As it published its third quarter financial results, Barclays disclosed that it has received official requests for information about its foreign exchange activities.
In the United States, both the criminal and antitrust divisions of the Justice Department are investigating the banks' foreign exchange activities, a hopeful sign that the department may be bringing more depth and creativity to its investigations of major banks.
The Global Treasury & Markets segment engages in foreign exchange activities, money market operations, fixed income and derivatives trading, and offers structured treasury products and financial solutions.
National securities commissions and independent financial regulators maintain oversight of their industries' foreign exchange market activities.
The foreign exchange market's activity generally follows the fixed income markets.
The Treasury and Investment Banking engages in the bank's own securities portfolio, trading on its own account in securities, and foreign exchange and treasury activities.
The company offers its corporate customers a wide range of products and services including financial and investment advisory services, deposit accounts, loans, foreign exchange and trade service activities.
Global Markets was primarily focused on sales and trading activities, foreign exchange dealing; derivatives trading and structuring, risk management and other market related functions.
Black-market activity in foreign exchange is prevalent in countries in which convertible foreign exchange is scarce and strict control of foreign exchange exists.
With no indication of how long the embargo on bank and foreign exchange transactions will last, economic activity was at a virtual standstill today, as even the stock market decided that there was no point in opening for business.
