HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » EXCLUSIVE-Deutsche Bank's...
Introducing Discussionist: A new forum by the creators of DU

Tue Jul 24, 2012, 10:44 AM

EXCLUSIVE-Deutsche Bank's own Libor probe clears board-sources

Source: Reuters

(Reuters) - A Deutsche Bank (DBKGn.DE) internal probe has found that two of its former traders may have been involved in colluding to manipulate global benchmark interest rates but there was no indication of failure at the top of the organisation, three people close to the investigation said.

The preliminary conclusion contrasts with Barclays (BARC.L), which last month reached a $450 million settlement with U.S. and UK regulators over its involvement in alleged manipulation of the London interbank offered rate (Libor).

Failings at the British bank cost the chairman, the chief executive and the chief operating officer their jobs and the bank has instigated a wholesale review of its organisation.

Deutsche Bank declined to comment on the status of its internal probe. This is separate from a special probe of Deutsche Bank initiated by German markets regulator Bafin.

Read more: http://in.reuters.com/article/2012/07/24/idINWEA752120120724



once again, just a few bad apples...

3 replies, 1098 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 3 replies Author Time Post
Reply EXCLUSIVE-Deutsche Bank's own Libor probe clears board-sources (Original post)
kpete Jul 2012 OP
Fresh_Start Jul 2012 #1
PoliticAverse Jul 2012 #2
docgee Jul 2012 #3

Response to kpete (Original post)

Tue Jul 24, 2012, 10:49 AM

1. yes, there was fraud but of course there was no failure of leadership

because after all, we don't really expect anything of leadership except to accept the money

Reply to this post

Back to top Alert abuse Link here Permalink


Response to kpete (Original post)

Tue Jul 24, 2012, 10:59 AM

2. Good work internal-probe staff, you'll be getting a nice bonus this year... n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to kpete (Original post)

Tue Jul 24, 2012, 12:35 PM

3. How convenient. nt

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread