{"id":5547,"date":"2013-12-24T00:00:00","date_gmt":"2013-12-24T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/12\/deutsche_bank_royal_bank_of_sc"},"modified":"2022-05-05T08:51:59","modified_gmt":"2022-05-05T13:51:59","slug":"deutsche-bank-royal-bank-of-sc","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-royal-bank-of-sc\/","title":{"rendered":"Deutsche Bank, Royal Bank of Scotland Settle & Others for More than $2.3B with European Union Over Interbank Offered Rates"},"content":{"rendered":"

Deutsche Bank (DB) has announced that as part of a collective settlement, it will pay $992,329,000 to settle investigations involving interbank offered rates, including probes into the trading of Euro interest rate derivatives and interest rate derivatives for the Yen.<\/p>\n

Also paying fines as part of the collective settlement are Royal Bank of Scotland Group Plc (RBS) which will pay $535,173,000 and Society General SA (SLE), which will pay $610,454,000, and three others. In total, the financial firms will pay a record $2.3 billion.<\/p>\n

The fines are for manipulating the Euribor and the Yen London interbank offered rate. EU Competition Commissioner Joaquin Almunia said that regulators would continue to look into other cases linked to currency trading and Libor. Also related to these probes, Citigroup (C) <\/a>has been fined $95,811,100, while JPMorgan (JPM) <\/a>is paying $108M. Because of Citigroup\u2019s cooperation into this matter, it avoided paying an additional $74.6 million. The two firms reportedly admitted that they were part of the Yen Libor financial derivatives cartel.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Deutsche Bank (DB) has announced that as part of a collective settlement, it will pay $992,329,000 to settle investigations involving interbank offered rates, including probes into the trading of Euro interest rate derivatives and interest rate derivatives for the Yen. Also paying fines as part of the collective settlement are Royal Bank of Scotland Group […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3818,3752,3958,4027,3999],"tags":[],"class_list":["post-5547","post","type-post","status-publish","format-standard","hentry","category-deutsche-bank","category-financial-firms","category-jp-morgan-chase","category-libor-scandal","category-rbs-securities"],"yoast_head":"\nDeutsche Bank, Royal Bank of Scotland Settle & Others for More than $2.3B with European Union Over Interbank Offered Rates — Investor Lawyers Blog — December 24, 2013<\/title>\n<meta name=\"description\" content=\"Deutsche Bank (DB) has announced that as part of a collective settlement, it will pay $992,329,000 to settle investigations involving interbank offered — December 24, 2013\" \/>\n<meta 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