Report - Deutsche Bank criticised by FCA

Deutsche Bank - Foyer Bridge

Britain's financial regulator has harshly criticized Deutsche Bank's top management for failing to cooperate in its probe of the rigging of benchmark interest rate Libor, German magazine Der Spiegel said on Saturday.

Reuters reports that the Financial Conduct Authority (FCA) wrote a letter saying that Deutsche Bank's behaviour was unacceptable, the magazine said, adding that Deutsche Bank's board discussed the letter.

The penalties expected to be imposed on the bank by U.S. and UK authorities are likely to exceed $1.5bn, the amount UBS paid in 2012, two sources told Reuters earlier in April.

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FCA criticizes Deutsche Bank over Libor

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