Five world banks fined 5,7 billions of dollars for manipulation

Five of the world's largest banks, including JPMorgan Chase & Co and Citigroup Inc, have been fined approximately $ 5,7 billion. Four of them pleaded guilty to criminal charges of manipulating exchange rates.

The fifth bank, UBS AG, will be found guilty of falsifying key interest rates, the US Department of Justice said.

US banks JPMorgan Chase and Citigroup will pay 550 million and 925 million dollars criminal penalties, respectively, as an admission of their guilt. British banks Barclays Plc and Royal Bank of Scotland Plc will pay 650 million and 395 million dollars, respectively. Each of them pleads guilty to a criminal offense and collusion in order to fix prices and fraud with dollars and euros in the market for foreign currency cash.

The total amount of 5,7 billions of dollars includes 1,6 billion in fines imposed separately by the US Federal Reserve on five banks. Separately, the Fed fined Bank Of America Corp 205 million dollars for the inappropriate handling of foreign currency.