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Banks Set Aside $2.7 Billion for FX Probes as Settlements Near

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Banks began setting aside money for currency-rate rigging probes this week with as much as $2.7 billion provisioned, indicating settlements are drawing near.

Royal Bank of Scotland Group Plc yesterday set aside 400 million pounds ($639 million) for the foreign-exchange probes. HSBC Holdings Plc will set aside about the same amount when it releases third-quarter earnings on Nov. 3, a person with knowledge of the matter said, asking not to be identified as it hasn’t been announced.