Citigroup sets aside $600 million more to cover legal costs

By David Henry and Ankur Banerjee (Reuters) - Citigroup Inc said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes. Citigroup is one of six major banks that are expected to settle with Britain's Financial Conduct Authority by mid-November over allegations that the banks manipulated foreign exchange markets. The banks are aiming to settle for a total of around 1.5 billion pounds sterling, or $2.42 billion, sources have told Reuters. ...

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