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(Updates with background on litigation.)
By Nate Raymond
NEW YORK, Aug 14 (Reuters) - BNP Paribas SA hasagreed to pay $115 million to settle U.S. investor lawsuitsaccusing 16 major banks of rigging prices in the $5.3trillion-a-day foreign exchange market, a person familiar withthe matter said on Friday.
The Paris-based bank is among nine that lawyers for theplaintiffs disclosed on Thursday had reached agreements totalingmore than $2 billion in class action litigation pending in NewYork.
Of those banks, the plaintiffs have announced the terms foronly four of their settlements, leaving unconfirmed how much BNPParibas, HSBC Holdings Plc, Barclays Plc,Goldman Sachs Group Inc and Royal Bank of Scotland GroupPlc will pay.
The Wall Street Journal in June reported that HSBC would pay$285 million, while Barclays would pay $375 million. Thosenumbers remain unconfirmed and representatives for the banksdeclined to comment.
Goldman Sachs will pay $129.5 million, a person familiarwith the matter said on Thursday. An RBS spokesman on Fridaydeclined to say how much it will pay, but said it was covered byexisting provisions.
In the litigation, investors including hedge funds andpension funds, accused the banks of impeding competition byconspiring to manipulate the WM/Reuters Closing Spot Rates inchat rooms, instant messages and emails.
According to the plaintiffs, traders at the banks used chatrooms with names such as "The Cartel," "The Bandits' Club," and"The Mafia" to communicate with each other.
They said traders manipulated prices through tactics such as"front running," "banging the close" and "painting the screen,"using disguised names to swap confidential orders.
The settlements announced Thursday came after four banks -Citigroup Inc, JPMorgan Chase & Co, Barclays and RBS- pleaded guilty in May in related criminal cases.
In total, U.S. and European regulators have extracted morethan $10 billion in settlements with seven banks over thealleged manipulation schemes.
In the class action, previously announced settlementsinclude $99.5 million from JPMorgan, $394 million fromCitigroup, $180 million from Bank of America Corp and$135 million from UBS AG..
Claims remain pending against Credit Suisse GroupAG, Deutsche Bank AG, Morgan Stanley,Bank of Tokyo-Mitsubishi UFJ Ltd, Royal Bank ofCanada, Societe Generale, and Standard Charteredplc.
The case is In re: Foreign Exchange Benchmark RatesAntitrust Litigation, U.S. District Court, Southern District ofNew York, No. 13-07789. (Reporting by Nate Raymond; additional reporting by StevenSlater in London; Editing by Alan Crosby)
