Bank of America (BAC) is nearing a possible deal with U.S. financial regulatory authorities to settle an investigation of believed foreign exchange currency market adjustment by the nation's biggest bank.

In the weeks considering that its 3rd-quarter earnings announcement in October, Bank of America announced Thursday it 'Has actually been taken part in separate advanced discussions with specific US banking regulatory agencies to fix issues connected with its foreign exchange business'.

The disclosure, issued after financial markets closed, said the bank elevated its legal reserves to fund the prospective settlement. As a result,'The company recorded a $400 million non-deductible fee and also adjusted its 3rd-quarter 2014 financial results to a net loss of $232 million,' comparable to a 4 cent loss on a per-share basis, the banking said.

While disclosing the agreements, the Charlotte, N.C., bank cautioned 'There can be no guarantee about the ultimate outcome of these matters'.

Bank of America shares were down fractionally at $17.26 in after-hours trading after shutting slightly higher at $17.36 in typical Thursday trading.

The statement represents the most up to date signal of a quickening pace to examinations of the $5.3 trillion-a-day foreign exchange currency trading market by authorities in the United State and Europe. The probes of the traditionally unregulated market focus on approximately a dozen global banks, several of which have fired or placed on leave traders associated with their foreign currency businesses.

Since mid-2013, investigators have been analyzing thought proof that bank traders manipulated rates for 160 world currencies that have actually been calculated & distributed by a joint venture of the WM Co. and Thomson Reuters.

U.S. investigators pursuing the case include the Division of Justice, the Federal Reserve, the Commodity Futures Trading Commission & the Office of the Comptroller of the Currency. Great Britain's Financial Conduct Authority & various other European authorities & regulators similarly are penetrating evidence of suspected foreign exchange currency trading abuses.

Bank of America did not name the U.S. regulators associated with the negotiations. Nevertheless, The New York Times identified the companies as the Federal Reserve & Office of the Comptroller of the Currency, citing info from people oriented on the investigation.