'Mr. Jain disputes as baseless the allegation that he misled the Bundesbank in his 2012 interview', Michael Golden, a Deutsche Bank spokesman, said Friday in an e-mailed statement. 'He understood Bundesbank’s question about when he first learned of rumors of possible IBOR rigging to mean rigging at Deutsche Bank itself which he learned of in 2011, not rigging in the marketplace which was publicly reported on in 2008', Golden said, referring the interbank offered rate.
Bloomberg News reports that German financial regulator Bafin, which last month completed its review of Libor rigging, found Deutsche Bank senior managers acted 'negligently' and that Jain may have misled the central bank, the Financial Times reported Friday.
Deutsche Bank may be vulnerable to additional action by authorities and the Bafin report concludes that special 'banking supervisory measures' should be considered for the firm, according to the newspaper.
To access the complete Bloomberg News article hit the link below: