HSBC expands FX probe arsenal to $1.3 billion
Bank increases provision for litigation costs
HSBC has increased its provision for litigation costs in the ongoing foreign exchange manipulation investigations by $491 million, bringing the total it has set aside for potential FX fines and litigation-related costs to $1.3 billion.
The provisions relate to criminal investigations by the US Department of Justice (DoJ) and the Federal Reserve Board, and several other civil probes by regulators in the European Union, Brazil and South Korea.
'Conspired to manipulate'In addition, HSBC has been
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