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US seeks billions from tellurian banks in banking investigation

(Reuters) – The U.S. Justice Department is seeking about $1 billion any from tellurian banks being investigated for strategy of banking markets, Bloomberg reported on Friday, citing people informed with a talks.

The figure is a starting indicate in allotment discussions, with some banks being asked for some-more and some less, Bloomberg said.

One bank that has cooperated from a commencement is approaching to compensate distant reduction and penalties of about $4 billion are on a table, Bloomberg reported, adding that a series could change markedly.

With banks pulling behind harder than in some prior negotiations, including those for mortgage-backed securities, a final penalties could be lower, Bloomberg said.

The discussions, that have begun in aspiring in new weeks, could lead to settlements that would solve U.S. accusations of rapist activity in a banking markets opposite Barclays, Citigroup, JP Morgan Chase,Royal Bank of Scotland and UBS Group, Bloomberg said.

Prosecutors are also dire Barclays, Citi, JPMorgan Chase and a Royal Bank of Scotland, to beg guilty, Bloomberg reported.

Last year, regulators fined 6 vital banks, including HSBC Holdings, JPMorgan Chase and Bank of America, a sum of $4.3 billion for unwell to stop traders from perplexing to manipulate a unfamiliar sell market.

UBS, a initial bank to forewarn U.S. authorities of probable misconduct, has been postulated shield from charge for antitrust violations, Bloomberg reported.

Barclays, JP Morgan Chase and UBS declined to comment. Citi and Royal Bank of Scotland could not be immediately reached for comment.


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