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UK regulator in talks with 6 banks over FX settlement -sources

Reuters - UK Focus

LONDON, Sept 26 (Reuters) - Britain's Financial Conduct Authority held talks this week with six banks over a coordinated settlement after its investigation into allegations of collusion and manipulation in the global currency market, banking sources told Reuters on Friday.

The settlement would see banks pay different sums, depending on the gravity of transgression, could total just under 2 billion pounds and would be confirmed simultaneously, the sources said.

This confirms a report earlier on Friday from Sky News.

The banks in the talks were Barclays (LSE: BARC.L - news) , HSBC , Royal Bank of Scotland (LSE: RBS.L - news) , UBS (NYSEArca: FBGX - news) , JP Morgan (Other OTC: MGHL - news) and Citi.

The FCA, Barclays, UBS, Citi and JP Morgan declined to comment. The other banks couldn't be reached immediately. (Reporting by Jamie McGeever and Steve Slater)