Deutsche Bank agreed in April 2015 to pay a then-record 2.5 billion dollars to U.S. and UK regulators to settle allegations that its traders manipulated the London Interbank Offered Rate (Libor) and other benchmark interest rates for years to benefit trading positions and make the bank appear more financially stable. The bank was also required to fire several employees and install an independent monitor, part of a wider Libor-rigging scandal that implicated more than a dozen major global banks.
Facts
Event TypeMarket manipulation scandal 1 Cross-Tradition Connections
Associated With
Deutsche Bank paid a record 2.5 billion dollar fine in 2015 for its role in manipulating the Libor benchmark interest rate, one of the largest penalties in the wider Libor manipulation scandal.
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