DBPBC (DBP): Deutsche Bank agrees to joint settlement of all remaining investigations with US and UK regulators over interbank offered rates benchmarks - raport 3
UNI - EN REPORT No3/2015
Deutsche Bank has reached a joint settlement with the Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC) and New York State Department of Financial Services (NYDFS) in the US and Financial Conduct Authority (FCA) in the UK as part of an industry-wide investigation into past submissions for interbank offered rates benchmarks.
Deutsche Bank agreed to pay penalties of USD 2.175 billion to the DOJ, CFTC and NYDFS and GBP 226.8 million to the FCA.
Deutsche Bank will book an additional provision of approximately EUR 1.5 billion for IBOR and other matters in its first-quarter 2015 financial results.
No current or former member of the Management Board was found to have been involved in or aware of the trader misconduct.
The Bank has disciplined or dismissed individuals involved in the trader misconduct; has significantly strengthened its controls; and is conducting a thorough review of its actions in addressing this matter.
