Deutsche Bank is seeking to recover internal electronic chat transcripts that were left out of disclosures to regulators during a probe into interest-rate rigging, according to people briefed on the matter.
Bloomberg News reports that the bank told regulators in May that a software glitch caused one of its chat systems to fail to archive files as far back as 2005, according to the people, who asked not to be identified because the recovery process isn’t complete.
The New York Department of Financial Services, the state’s banking regulator, is investigating the matter, one of the people said.
Deutsche Bank in April agreed to $2.5bn in penalties to settle U.S. and U.K. investigations into its role in rigging the London interbank offered rate. The missing chats have the potential to reopen the settlement, said one of the people. Still, in the chats recovered so far, the bank hasn’t found any new material information related to the Libor case, said another of the people.
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