HSBC sets aside $378m for watchdog investigation

HSBC Holdings has set aside some $378m (€302m) for a potential settlement with Britain’s financial watchdog for alleged manipulation of currency markets.

It comes as the bank reported a 12% decline in underlying profit in the third quarter.

Europe’s largest bank by market value provided $1.8bn in total in the quarter for fines, settlements, and compensation costs related to mis-selling loan insurance.