Regulators in the U.S., Britain and Switzerland ordered five banks to pay about $3.3 billion in the first wave of penalties since authorities began a global probe into the rigging of key foreign-exchange benchmarks last year.
The euro fell to a two-year low as European Central Bank President Mario Draghi deepened his commitment to a stimulus program and signaled policy makers are ready to implement additional measures if needed.
Staff at the ECB’s new overseer are preparing to monitor capital issuance by banks, and processing the results of a year-long asset review that revealed a stash of soured loans in the bloc now amounts to almost 900 billion euros ($1.1 trillion).
Barclays Plc, the U.K.’s second-largest bank by assets, said third-quarter pretax profit at its investment bank dropped 39%, trailing European peers, as fees for managing securities sales and trading stocks plummeted.
Foreign-exchange traders’ messages on Facebook Inc. are being sought by European Union antitrust regulators as they expand a probe into alleged collusion between banks beyond work e-mails and instant messages, two people with knowledge of the case said.
Twenty-five lenders in the European Central Bank’s euro-area bank health check are set to fail the regulator’s Comprehensive Assessment, according to a draft communique of the final results, seen by Bloomberg News.
Lira weakness since the Federal Reserve signaled U.S. interest rates could rise faster than anticipated is exposing Turkey’s economic vulnerability amid concern the central bank may need to cut borrowing costs further to spur growth.