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.

  

BCS ChartBCS data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer’s multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

More from Markets

Baidu Stock Plummets After COO Qi Lu Resignation

Baidu Stock Plummets After COO Qi Lu Resignation

Wondering What Blockchain Technology Really Is? This Expert Explains It All

Wondering What Blockchain Technology Really Is? This Expert Explains It All

Dow Rises Sharply as U.S.-China Trade Tensions Thaw

Dow Rises Sharply as U.S.-China Trade Tensions Thaw

GE Confirms $11.1 Billion Transportation Merger With Wabtec

GE Confirms $11.1 Billion Transportation Merger With Wabtec

Gold Prices Look 'Rich' at Current Levels - Here's What Could Change That

Gold Prices Look 'Rich' at Current Levels - Here's What Could Change That