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Barclays "set to face another forex rigging fine"

The British bank is reported to be poised to agree to pay at least £65.7mln

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Barclays may do a deal with New York financial watchdogs by next month

Barclays (LON:BARC) is set to face another fine linked to alleged foreign exchange market rigging, it emerged on Wednesday.

The British bank is reported to be poised to agree to pay at least £65.7mln in a deal with the New York financial regulator to resolve claims that it fixed foreign exchange markets.

The British bank could settle with the New York Department of Financial Services by next month, reports cited an unidentified source as saying.

Neither Barclays nor the DFS would comment, according to news agency reports.

The latest fine would be smaller than the £427.4mln penalty Barclays agreed in May to pay on charges related to US dollar and euro trading in the forex spot market, the Financial Times claimed.

That was because there was a lower volume of trades at issue, the FT cited unidentified sources as saying.

Last month, Barclays said it had faced legal costs of £2.3bn in the first nine months of the year after making provisions of £270mln linked to the US sub-prime mortgage crisis.

Shares in Barclays fell 0.5p to 226.95p in the first hour of London trading.

Quick facts: Barclays

Price: 164.26 GBX

LSE:BARC
Market: LSE
Market Cap: £28.37 billion
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