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Barclays, HSBC, Royal Bank of Scotland 'at risk of further penalties' 

November 17, 2015

Jill Treanor, The Guardian

Major banks have now set aside $219bn (£144bn) to pay fines and legal costs since the financial crisis.

Ratings agency Moody’s, which calculated the vast provisions, ranked Barclays, HSBC and Royal Bank of Scotland at high risk from on-going investigations.

The agency also sounded an alert over the risk of criminal proceedings against banks which could threaten their future profitability.

Despite the huge sums set aside by 15 major investment banks between 2008 and 2014, Moody’s warned that scrutiny of the activities of bankers was not receding. “Regulatory investigations into the business practices and potential criminal activities of financial institutions have been proceeding rapidly both in the US and abroad,” said Moody’s.

“These probes of legacy conduct issues show no sign of abating and present significant risk for bondholders of large diversified global banks with significant capital markets business.” Read more

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