Deutsche Bank is preparing to pay nearly $1.3 billion in fines for its role in the LIBOR manipulation scandal, which is still sending shockwaves throughout the world’s financial institutions.
According to two unnamed sources, the German lender could pay nearly $1.3 billion to US and UK authorities to settle allegations of conspiring to manipulate the LIBOR benchmark rate. One source said Deutsche Bank is looking to clear its slate clean of all LIBOR-related litigation by the end of the year.
Deutsche Bank declined to comment on the matter, say reports.
The bank has already spent more than $7.7 billion in the last two-and-a-half years in efforts to move past litigation and various investigations, but reports say Deutsche Bank considers the LIBOR case the most important. The bank has never revealed how much it has put aside for penalties related to the LIBOR scandal.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI