Deutsche Bank Fined $2.5 bln for Interest Rate Benchmarks Manipulation
Victor Golovtchenko, 23 April 2015
Superintendent of Financial Services Benjamin M. Lawsky, announced today that Deutsche Bank will part with $2.5 billion to settle litigation costs related to manipulation of various interest rate benchmarks.
This is the biggest LIBOR investigations related fine to date, and surpasses Swiss bank’s Credit Suisse record. Besides installing an independent monitor for New York Banking Law violations, the largest German investment bank will also have to terminate and ban certain employees. Continue reading “Article: Deutsche Bank Fined $2.5 bln for Interest Rate Benchmarks Manipulation”
