icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

US regulators fine Deutsche Bank $70mn for trying ‘to rig benchmark rate’

US regulators have fined Deutsche Bank, Germany’s largest lender, $70 million for attempted manipulation of a global benchmark for interest-rate derivatives and other financial instruments, AFP reports. The Commodity Futures Trading Commission (CFTC) said late on Thursday that the German bank’s subsidiary, Deutsche Bank Securities, “made false reports and through the acts of multiple traders attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix.” The attempted manipulation took place between January 2007 and May 2012, the CFTC said, adding that traders “knew their conduct was illegal.”