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The Office of the Comptroller of the Currency
said Bank of America Corp agreed to pay $250 million, and
JPMorgan Chase & Co and Citigroup Inc <C.N> would each pay $350
million.
Regulators said traders from the three banks used online chat
rooms to discuss ways to manipulate rates to benefit themselves
and share confidential information such as customer orders.
Earlier on Wednesday, a separate group of U.S. and foreign
regulators announced $3.4 billion in fines against five banks,
including JPMorgan and Citi, over attempts to manipulate the
same rate, which is used by asset managers and corporate
treasurers to value their holdings.
"Several large banks permitted an environment to develop in
which unscrupulous traders discussed manipulating foreign
exchange markets," Comptroller of the Currency Thomas Curry said
in a statement.
"Our action today... sends a very strong signal that such
misconduct will not be tolerated," he said.
Bank of America, JPMorgan and Citi neither admitted or denied
wrongdoing, according to consent orders with the OCC. The
Federal Reserve and the Department of Justice are still
investigating banks' foreign exchange trading activity.
(Reporting by Emily Stephenson)
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