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Deutsche Bank To Pay $220 Million In U.S. Libor Probe

Published: October 26, 2017
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Source: Reuters

Deutsche Bank AG (DBKGn.DE) has agreed to pay $220 million to settle U.S. regulatory charges that it defrauded government and nonprofit entities by manipulating Libor and other benchmark interest rates.

The settlement between the German bank and attorneys general of 44 U.S. states and Washington, D.C. was announced on Wednesday by New York Attorney General Eric Schneiderman.

Deutsche Bank is the second bank to settle, joining Britain’s Barclays Plc (BARC.L), which reached a $100 million settlement in August 2016. Both agreed to cooperate in the multistate probe into several banks, which is continuing.

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