Deutsche Bank said poised for Libor settlement

Deutsche Bank - Foyer Bridge

Deutsche Bank is poised to settle as soon as Thursday U.S. and U.K. investigations into alleged attempts to manipulate benchmark interest rates, a person with knowledge of the matter said.

Bloomberg News reports that the bank could face a total fine of more than $1.5bn, a person familiar with the matter said earlier this month. The penalty would be larger than those paid by any of the other seven banks that have settled with the U.S. and U.K. over rigging the London interbank offered rate.

A settlement would remove a key legal threat that has haunted Deutsche Bank co-Chief Executive Officer Anshu Jain since 2012. The Libor scandal has forced at least one CEO, Barclays’ Bob Diamond, to resign and cost banks billions of dollars in penalties.

To access the complete Bloomberg News article hit the link below:

Deutsche Bank Said Poised to Settle Libor Claims Within Days

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