Wednesday, July 30, 2014
According to Reuters, Barclays says DOJ requested extension to non-prosecution agreement to investigate F/X trading. The existing agreement was for $450M. According to the article, "Barclays said the U.S. Department of Justice had requested an extension to a non-prosecution agreement (NPA) that was due to expire last month, to allow it to continue to investigate possible misconduct in foreign exchange trading. The NPA was put in place after the bank was fined $450 million for the alleged rigging of Libor interest rates, and means if the DOJ finds any wrongdoing in FX activities it could come down harder on the bank."