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HSBC Said to Pay at Least $1.9 Billion in U.S. Probe

HSBC Holdings Plc will pay at least $1.9 billion in a deferred prosecution agreement that settles U.S. probes of money laundering tied to Europe’s largest bank, a person familiar with the matter said, making it the largest such accord ever.

HSBC, whose top executives were accused of lax oversight by a U.S. Senate subcommittee in July, will forfeit $1.25 billion, the biggest forfeiture ever by a bank, said another person familiar with the matter. It will also pay an addition $665 million in civil penalties, the person said.