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TheStreet Open House

How Will Barclays (BCS) Stock React To Possible $2 Billion In Costs For Wrongful Conduct?

NEW YORK (TheStreet) -- Shares of Barclays (BCS) are slightly higher after it was reported that the London-based bank faces costs of as much as 1.2 billion pounds ($2 billion) for its alleged rigging of currency markets, lying to clients about its U.S. dark pool and mis-selling interest-rate swaps, according to Sanford C. Bernstein, Bloomberg reports.

The U.K. lender may incur a 700 million pound charge to settle a foreign-exchange investigation with regulators and a further 200 million pounds relating to a U.S. investigation into its private-trading venue, Chirantan Barua, an analyst at Bernstein in London said today in a note.

The bank could reach settlements by the end of the year, he added.

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