The Bank of England held talks with senior foreign exchange traders about the way benchmark rates were set 18 months before the authorities launched an investigation into allegations of market manipulation. Minutes of the Bank of England’s foreign exchange standing committee meeting with the chief dealers of several major brokers, including Royal Bank of Scotland and Citigroup, show officials discussed the “extra levels of compliance” trading desks were subject to when setting key foreign exchange rates. Unnamed sources cited by Bloomberg and Reuters, said the April 2012 discussion centred on the admission by traders ... (full story)