Currency Chiefs Tell New York Fed Probes May Change Practices

Foreign exchange dealers from the world’s biggest banks told the Federal Reserve Bank of New York the global probe into manipulation of currency rates could prompt an overhaul of the way they handle customer orders, minutes released by the central bank show.

Currency chiefs from banks including JPMorgan Chase & Co., Barclays Plc and Citigroup Inc. met with six officials from the New York Fed at a Nov. 13 meeting of the Foreign Exchange Committee -- an industry group sponsored by the New York Fed -- according to minutes released by the group.