Deutsche Bank Hit With Record $2.5Bn Fine For Rate-Rigging – 23 April 2015

RT logoGermany’s biggest lender has been fined $2.5 billion by US and UK regulators for manipulating market key rates including Libor, the benchmark for interest rates on trillions of dollars of financial contracts.

The bank admitted in Thursday’s settlement that its employees rigged the yen Libor (London Interbank Offered Rate) and the Brussels and Tokyo equivalents, Euribor and Tibor, to benefit their trading book and those of traders at other banks.

This is the biggest fine in a Libor case to date.

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