US and British authorities investigating for years the German bank. This should have been involved in manipulation of the interbank interest rate Libor. An agreement apparently is imminent – for the German bank could be costly
The German bank is in the US and the UK, according to media reports the verge of a settlement. the allegations of manipulation of the Libor rate. The agreement covers the admission of guilt of a British subsidiary of fraud and the payment of more than $ 1.5 billion (1.4 billion euros), reported that “New York Times” and the Financial Services Bloomberg on Thursday, citing inaugurated circles.
Libor: indicative financial transactions of hundreds of trillions of dollars
Germany’s largest bank would then accept the highest fine imposed by a Libor-case so far. But they could the years-long conflict settle in one fell swoop with the US Department of Justice and the other investigating regulators in America and Great Britain. According to the reports that could happen later this month. The EU had already aufgebrummt the money home end of 2013, a fine of 725 million euros.
The German bank said, they keep working together with the US authorities, who examined the Libor affairs. The reference rate Libor is a specified average of banks, institutions mutually borrow money to. The interest rate, the dealer of several major banks have manipulated over the years for its own benefit, is a guide for financial transactions of hundreds of trillions of dollars – many loans are pegged
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