Tag: BTM UFJ

BTM UFJ

Five More Banks Settle Benchmark Claims

Five banks have filed to settle a class action lawsuit brought against them over FX benchmark manipulation claims.
According to papers filed in New York, the settlement agreements resulted from “arm’s-length negotiations between highly experienced counsel and fall within the range of possible approval”.
Morgan Stanley has agreed to pay $50 million; Societe Generale $18 million; Standard Chartered Bank $17.2 million; Royal Bank of Canada $15.5 million; and Bank of Tokyo-Mitsubishi UFJ $10.2 million. All five banks continue to deny wrongdoing.