Tags: Federal Reserve | Bank Conduct | Forex | Currency Markets

Federal Reserve Investigating Bank Conduct in Foreign Exchange Markets

Wednesday, 12 November 2014 08:13 AM EST

The U.S. Federal Reserve is investigating possible improper conduct in foreign exchange markets by large banking institutions, a spokesman said on Wednesday.

"The Federal Reserve is continuing to investigate in the foreign exchange markets in coordination with other authorities, including the Department of Justice,” the spokesman said in a statement.

The Fed also is working closely with authorities overseas, according to the statement.

The announcement was made as global regulators fined five major banks, including UBS, HSBC and Citigroup, $3.4 billion for failing to stop their traders from trying to manipulate the foreign exchange market.

© 2024 Thomson/Reuters. All rights reserved.


Finance
The U.S. Federal Reserve is investigation possible improper conduct in foreign exchange markets by large banking institutions, a spokesman said on Wednesday.
Federal Reserve, Bank Conduct, Forex, Currency Markets
95
2014-13-12
Wednesday, 12 November 2014 08:13 AM
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