Keeping track of exactly which banks have been fined how much and for what and where is no mean feat. The latest batch of penalties from US and UK regulators – totalling $5.6 billion – for FX and other benchmark-rigging offences arrived on Wednesday. JP Morgan, Barclays, Royal Bank of Scotland, Citigroup and UBS were the recipients this time but stories of big banks landing huge fines for market malpractice have become all too familiar in recent years. Here's a recap of where the interbank and FX fines have landed to date.
This chart includes fines dating back to the summer of 2012 that have been levied by US, UK and European regulators related to banks' conduct in the foreign exchange and interbank offered rate markets (including Libor and Euribor). They do not include yesterday's $115 million fine levied on Barclays by the Commodity Futures Trading Commission regarding the Isdafix benchmark, for which no other banks have yet been fined.