Deutsche Bank Suspends Two Employees Over Allegations Of Libor Manipulation
Published Sunday, 08 July 2012 15:15 | Written by Amwal Al Ghad
The bank said it has received subpoenas and requests for information from U.S. and European authorities in connection with setting interbank rates, German magazine Der Spiegel reported.
Germany's markets regulator has launched a special probe into Deutsche Bank over suspected manipulation of interbank lending rates.
Investigators in the United States, Europe and Japan are examining more than a dozen big banks over suspected rigging of the London Interbank Offered Rate (Libor).
Britain's Barclays (BARC.L) has been the only bank to admit wrongdoing, agreeing last week to pay a fine of more than $450 million.
Related newsThe Libor rates, compiled from estimates by large banks of how much they believe they have to pay to borrow from each other, are used to determine interest rates on trillions of dollars worth of contracts around the world.
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