Deutsche Bank sets aside E1.5 billion as Libor settlement looms

Section:

By James Shotter
Financial Times, London
Wednesday, April 22, 2015

Deutsche Bank will take a litigation charge of "approximately E1.5 billion," it said on Wednesday as the German lender nears settlement of claims that it tried to manipulate interbank lending rates.

A resolution of the long-running saga could come as early as Thursday, and the bank’s total fine is likely to be more than E2 billion, according to people familiar with the situation.

That total would represent the largest penalty meted out so far in connection with the scandal over the manipulation of the London interbank offered rate (Libor) and other interbank borrowing rates. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/e453ee58-e910-11e4-a71a-00144feab7de.html



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