Deutsche Bank One of Sixteen Banks Sued for LIBOR Fraud

The US Federal Deposit Insurance Corporation (FDIC) is suing 16 prominent banks, including Deutsche Bank, for their involvement in an elaborate LIBOR (London Interbank Offered Rate) manipulation scheme. LIBOR rates refer to the average estimated interest rates used for lending purposes between banks calculated by interest rate submissions submitted by prominent banks in London. The FDIC claims that the 16 banks involved in the suit, including UBS, Barclays, Credit Suisse, and  Deutsche Bank, caused 38 banks to suffer significant financial losses.    ... →

Libor scandal: Rabobank pays €774 million fine

The Dutch Rabobank has agreed to pay a €774 million fine because of its involvement in the manipulation of the Libor. The bank is now the fifth institution to agree to a settlement in the course of the Libor scandal investigations. The Libor is a reference interest rate that indicates at which price banks can borrow money from each other.   ... →

Deutsche Bank faces law suit

n-tv (08.07.2012) The British interest rate scandal concerning allegedly flawed Libor rates keeps building up pressure on the Deutsche Bank: In the US investors – also German ones – take the financial institution to court because of a possible involvement. So far, the Deutsche Bank has been tight-lipped. First staff members, however, have already lost their jobs.   ... →