Deutsche Bank may pay record fine

Deutsche Bank - Foyer Bridge

A long-running investigation into Wall Street’s manipulation of interest rates is heading into a stark final chapter as authorities around the globe push Deutsche Bank to pay a record penalty and accept a criminal guilty plea for the unit at the center of the case.

The New York Times reports that Deutsche Bank, one of several banks linked to the gaming of interest rates, is in talks to resolve the case as soon as this month, according to people briefed on the matter.

A deal — which involves federal prosecutors as well as New York State’s financial regulator and regulators in London and Washington — would be one of the last cases to arise from the sweeping investigation into the London interbank offered rate, or Libor.

The contours of Deutsche Bank’s planned settlement, described by the people briefed on the matter who were not authorized to speak publicly, show the perils of going last. Collectively, the authorities are expected to collect more than $1.5bn from Deutsche Bank, eclipsing all past settlements with banks accused of Libor manipulations. 

To access the complete New York Times article hit the link below:

Deutsche Bank Nears Plea Deal Over Libor Manipulation

Citigroup’s Top Risk Executive, Brian Leach, to Depart

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts