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The article states that German bank Deutsche Bank AG was prepared to pay a settlement of over $2.15 billion to U.S. and British regulators following allegations that Deutsche Bank employees attempted to manipulate the London Interbank Offering Rate (LIBOR). According to the article, the settlement would end investigations by regulators representing the U.S. government, New York State, and the British Financial Conduct Authority (FCA).

The article reports that large banks in the U.S. and Europe are collectively reserving billions of dollars in anticipation of a possible settlement of charges that they manipulated foreign-exchange markets. Citigroup Inc. has set aside an additional $600 million, while Barclays PLC has added $800 million to its reserves for legal costs. Agencies trying to reach a quick settlement involving multiple banks include the U.S. Federal Reserve and British Financial Conduct Authority.

In this article the author discusses the decision by British bank Barclays, led by chief executive officer (CEO) Antony Jenkins, to opt out of a settlement discount offered by Great Britain's Financial Conduct Authority (FCA) related to its role in the manipulation of foreign-exchange markets.