Deutsche Bank announced on April 23 that it reached joint settlements with U.K. and U.S. regulators as part of an industry-wide investigation into manipulation of interest rate benchmarks.
The bank agreed to pay penalties of £226.8 million ($341.43 million) to the U.K.'s Financial Conduct Authority and $2.175 billion to the U.S. authorities. The U.S. fines include $800 million paid to the Commodity Futures Trading Commission, the largest ever imposed by that agency.
The bank also agreed to enter into a “deferred prosecution agreement” with the U.S. Justice Department to resolve wire fraud and antitrust charges related to the investigation into manipulation of the Libor benchmarks for U.S. dollar and Japanese yen interest rates. In addition, one of the bank's subsidiaries agreed to plead guilty to wire fraud for its role in manipulating Libor.
