The dubious distinction of drawing the largest fine for manipulating Libor goes to Deutsche Bank. Their total tab is now $3.5B. That leaves UBS in a distant second place at $1.6B.
Check out two articles on April 22:
- Wall Street Journal – Deutsche Bank to Pay $2.5 Billion to Settle Libor Investigation With U.S., U.K. Authorities
- New York Times – Deutsche Bank to Pay $2.5 Billion Fine to Settle Rate-Rigging Case
Deutsche Bank will pay slightly over $2.5 billion to settle up for manipulating Libor, Eurbor, and Tibor (Tokyo interbank). Several specific Directors and VPs will be fired.
A subsidiary company in Britain will plead guilty to violating American criminal laws.