$ 16 billion in compensation for 16 banks



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According to news in the German economic newspaper Handelsblatt, the number submitted in the case filed on November 7 in Manhattan District Court in New York City against 16 international banks exceeded one billion dollars.

Large fund managers such as BlackRock and Allianz, Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, MUFG Bank Japan, Royal Bank of Canada, Royal Bank Scotland, Societe Generale is located in Standard Chartered and UBS.

Plaintiff investors accused the bank of manipulating exchange rates and violating US antitrust laws, secretly sharing trade orders and their position with foreign exchange transactions between 2003 and 2013.

Banks are forced to pay billions of dollars in criminality and reconciliation costs because of the conciliation agreements they made as a result of investigations and lawsuits filed in the past for the same reason.

In addition, some authorities that conduct bank foreign exchange purchase transactions are sentenced to prison or are prohibited from the profession.

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