Barclays Plc, Citigroup Inc. and Deutsche Bank AG are among banks that could face “material and widespread” fines on misconduct such as alleged rigging of currency rates, Fitch Ratings said.
Goldman Sachs Group Inc., Credit Suisse Group AG, JPMorgan Chase & Co., Morgan Stanley, Bank of America Corp., UBS AG, HSBC Holdings Plc, BNP Paribas SA and Societe Generale SA are also among banks “exposed to litigation and other conduct risks, and further fines are inevitable,” the ratings company said in a statement today. Uncertainty over fines and possible restrictions is “one of the biggest risks” they face, it said.
