Some banks tried to renege on deals after SNB's policy U-turn-Bloomberg

April 19, 2015 11:45 PM

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April 20 (Reuters) - After the Swiss National Bank abandoned its price cap on the franc in January, some dealers such as Bank of America Corp, Barclays Plc and Goldman Sachs Group Inc approached customers about changing some trades, Bloomberg reported, citing people familiar with the discussions.

The banks sought to reduce their losses by trying to renege on transactions by contacting customers after the SNB decision, asking to discuss the rates they'd traded on, Bloomberg said. (

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