Deutsche Bank reaches $170 million Euribor-rigging settlement

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Deutsche Bank reaches $170 million Euribor-rigging settlement

Deutsche Bank reaches $170 million Euribor-rigging settlement

Reuters-

Deutsche Bank AG (DBKGn.DE) will pay $170 million to settle an investor lawsuit claiming it conspired with other banks to manipulate the benchmark European Interbank Offered Rate and related derivatives.

A preliminary settlement was filed on Monday with the U.S. District Court in Manhattan, and requires a judge’s approval.

It follows similar settlements with Barclays Plc (BARC.L) and HSBC Holdings Plc (HSBA.L) for a respective $94 million and $45 million, which have won preliminary court approval.

Euribor is the euro-denominated equivalent of Libor, a benchmark for setting rates on hundreds of trillions of dollars of credit cards, student loans, mortgages and other debt.

[REUTERS]

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