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.    ... →

Deutsche Bank: Manipulation at the expense of retirees?

After the unveiling of the manipulation of the reference rate Libor, another scandal now seems to be unfurling: The Deutsche Bank (and other Wall Street banks) is being accused of manipulation of ISDAfix, a reference rate for interest rate swaps. The ISDAfix calculates prices for derivatives and therefore simplifies the private trade of derivatives. It is utilized by pension fonds, companies or even bond fonds, in order to hedge against losses or speculate on interest rate fluctuation.   ... →

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.   ... →