Five big banks are expected to face a combined bill of more than $5 billion on Wednesday in a settlement with U.S. and U.K. authorities over currency-market manipulation, Reuters reported Tuesday.

J.P. Morgan Chase & Co. (JPM), Citigroup Inc. (C), Barclays PLC (BCS, BARC.LN) and Royal Bank of Scotland Group PLC (RBS, RBS.LN) are expected to plead guilty to U.S. criminal charges related to foreign-exchange manipulation, Reuters reported, citing people familiar with the matter.

UBS AG is expected to avoid a criminal charge after receiving immunity for alerting on the issue, according to Reuters, but it faces a criminal charge over rigging benchmark interest rates, people familiar with the matter said.

Barclays is expected to settle with other British and U.S. regulators as well, meaning its penalties could top $2 billion, significantly higher than the other banks, Reuters said.

Full story at:

http://www.reuters.com/article/2015/05/19/us-banks-forex-settlement-idUSKBN0O42PJ20150519

Subscribe to WSJ: http://online.wsj.com?mod=djnwires