March 13 (Reuters) - The U.S. Justice Department is seekingabout $1 billion each from global banks being investigated formanipulation of currency markets, Bloomberg reported on Friday,citing people familiar with the talks.
The figure is a starting point in settlement discussions,with some banks being asked for more and some less, Bloombergsaid. (http://bloom.bg/1EIa6Mi)
One bank that has cooperated from the beginning is expectedto pay far less and penalties of about $4 billion are on thetable, Bloomberg reported, adding that the number could changemarkedly.
With banks pushing back harder than in some previousnegotiations, including those for mortgage-backed securities,the final penalties could be lower, Bloomberg said.
The discussions, which have begun in earnest in recentweeks, could lead to settlements that would resolve U.S.accusations of criminal activity in the currency markets againstBarclays Plc, Citigroup Inc, JP Morgan Chase & Co, Royal Bank of Scotland Group Plc and UBS GroupAG, Bloomberg said.
Prosecutors are also pressing Barclays, Citi, JPMorgan Chaseand the Royal Bank of Scotland, to plead guilty, Bloombergreported.
Last year, regulators fined six major banks, including HSBCHoldings Plc, JPMorgan Chase and Bank of America Corp, a total of $4.3 billion for failing to stop tradersfrom trying to manipulate the foreign exchange market.
UBS, the first bank to notify U.S. authorities of possiblemisconduct, has been granted immunity from prosecution forantitrust violations, Bloomberg reported.
Barclays, JP Morgan Chase and UBS declined to comment. Citiand Royal Bank of Scotland could not be immediately reached forcomment. (Reporting by Neha Dimri in Bengaluru; Editing by SimonJennings)
Barclays (BARC)
HSBC Holdings (HSBA)
