Deutsche Bank to pay $2.5B for Libor rate violations

For years, employees at Deutsche Bank illegally manipulated interest rates around the globe – including LIBORs for U.S. Dollar, Yen, Swiss Franc and Pound Sterling, as well as EURIBOR – in the hopes of fraudulently moving the market to generate profits for their traders at the expense of the bank’s counterparties,” said U.S. Assistant Attorney General Leslie Caldwell.

via Deutsche Bank to pay $2.5B for Libor rate violations.

Well done Hans Schnitzelface, the Germans are no 1 in Europe as always.

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