Day of Reckoning: Banks to Pay $3.3B Over Rate-Rigging

The transcript discusses the CFTC's decision to fine five major banks over $1.4 billion for FX market manipulation. It highlights the banks involved, including Citibank, HSBC, JP Morgan, RBS, and UBS, and notes the absence of Barclays in the current fines. The discussion extends to the roles of other regulators like the FCA and FINMA, and the provisions banks have made for these fines. The transcript also compares the current situation to the Libor scandal, emphasizing the quicker and more coordinated regulatory response. It concludes with insights into the global impact and future implications of these regulatory actions.

How much did FINMA fine UBS in relation to the FX manipulation?

What is the total amount from US and UK regulators regarding the FX probe?

How did the penalties for the FX probe compare to those for the Libor scandal?