Barclays (LON:BARC), HSBC (LON:HSBA), Royal Bank of Scotland (LON:RBS) and two other banks have agreed to pay around US$1.2bn in the latest high-profile settlement over foreign-exchange rigging.
The UK banks are stumping up US$924mln, with Barclays charged the most of the three, at US$384.
HSBC and RBS have agreed to pay US$285mln and US$255mln respectively.
The other two banks involved, BNP Paribas and Goldman Sachs, will pay US$135mln and US$115mln.
The settlements, which need approval from a federal court, could open the door to a number of other lawsuits in the UK and across Europe and the US.
It takes the total paid out by banks so far to just over US$2bn, after four other banks settled earlier this year.
Previously, Citi agreed to pay US$402mln, BoA Merrill Lynch was charged US$187mln, UBS put up US$141mln and JPMorgan set aside US$105mln.
US law firm Scott & Scott, which has previously represented victims of the BP oil spill in the Gulf of Mexico, brought the class action against the banks.
The law firm indicated it could get the go-ahead for a further action in London by the end of the year.
Managing partner, David R Scott, said: “Our work is far from done. Given our in-depth knowledge based on our success against [four other] banks in the US, Scott & Scott is gearing up to bring the action to Europe.”
There are still seven banks listed in the action which have yet to settle, including Standard Chartered (LON:STAN), Deutsche Bank, Morgan Stanley and Credit Suisse.