The Business Times
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HSBC makes US$378m provision for likely forex penalty

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Published Mon, Nov 3, 2014 · 09:50 PM

London

HSBC Bank on Monday took a US$378 million charge linked to allegations of foreign exchange market rigging, and posted mixed earnings for the third quarter.

The Asia-focused lender added in a results statement that talks were ongoing with Britain's Financial Conduct Authority (FCA) regulator over the allegations and warned that a "significant" fine was likely.

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