(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.
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.