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Banks

Leucadia to give FXCM $300 million to continue operations

(Reuters) - Leucadia National Corp LUK.N will give $300 million to retail foreign exchange broker FXCM Inc FXCM.N to meet regulatory capital requirements, the two companies said on Friday.

The move comes after FXCM lost $225 million due to the surging Swiss franc, caused by the scrapping of a three-year-old cap on the value of the franc against the euro by the Swiss National Bank on Thursday.

The investment is in the form of a $300 million senior secured term loan, the companies said.

Leucadia owns investment bank Jefferies.

Reporting by Avik Das in Bengaluru; Editing by Sriraj Kalluvila

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