Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Deutsche Bank    DBK   DE0005140008

DEUTSCHE BANK (DBK)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

UBS nears deal with United States, UK over Libor

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/03/2012 | 09:14pm CEST
Signs are seen on the outside of Swiss bank UBS in central London

ZURICH/LONDON (Reuters) - Swiss bank UBS AG is nearing a deal to settle claims some of its staff manipulated interest rates and could reach agreement with U.S. and British authorities by the end of the year, a person familiar with the matter said on Monday.

UBS is expected to pay more than $450 million to settle claims some of its employees submitted false Libor rates, the New York Times reported earlier.

Britain's Barclays Plc was fined $453 million in June for manipulating Libor benchmark interest rates, and remains the only bank to settle in the investigation, which led to the resignation of the bank's chairman and chief executive.

U.S. and UK regulators, which released their settlements with Barclays at the same time, are working together on the UBS investigation and could release an agreement by the end of the year, although the timing could slip into next year, the person familiar with the matter told Reuters.

The reliability of the London Interbank Offered Rate, or Libor, has been cast into doubt by the rate manipulation accusations. Libor is intended to measure the rate at which banks lend to one another and is used as a benchmark for $300 trillion of contracts and loans across the world.

UBS was the first bank globally to report suspected rate rigging, and has said it has received conditional immunity from some authorities for cooperating in their probes.

A UBS spokeswoman told Reuters that the bank was in the midst of discussions with authorities in the United States and Britain in connection with Libor investigations and has been cooperating fully with the regulatory and enforcement authorities, but gave no further details.

Britain's Financial Services Authority declined to comment beyond confirming the already established fact that the FSA is investigating UBS.

The Commodity Futures Trading Commission and the U.S. Justice Department, investigating the Libor matter in the United States, declined to comment.

Other banks are also anxious to draw a line under the probe, which is well into its second year. British bank Royal Bank of Scotland said last month it hoped to reach a settlement on its part in the rate-rigging scandal - likely to result in fines for the bank - and expected to start talks soon.

Morgan Stanley has estimated that 11 global banks linked to the Libor scandal could face $14 billion in regulatory and legal settlement costs through 2014.

Switzerland is also investigating 12 U.S., European and Japanese banks suspected of conspiring to manipulate interbank lending rates. They include Credit Suisse, Deutsche Bank, HSBC Holdings and RBS.

"In Switzerland we are still investigating the case. We are in contact with other authorities," said Competition Commission official Olivier Schaller, but provided no further details.

Tobias Lux, spokesman for Swiss regulator FINMA, said the regulator was making efforts to clarify the issue, but declined to comment further.

Reuters parent company Thomson Reuters Corp collects information from banks and uses it to calculate Libor rates according to specifications drawn up by the British Bankers Association (BBA).

(Additional reporting by Sakthi Prasad in Bangalore; Editing by Mike Nesbit and Jane Merriman)

By Martin de Sa'Pinto and Steve Slater

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS 1.68% 193.36 Delayed Quote.-4.63%
CREDIT SUISSE GROUP 2.58% 15.325 Delayed Quote.-12.47%
DEUTSCHE BANK 1.30% 9.485 Delayed Quote.-39.60%
ROYAL BANK OF SCOTLAND GROUP 1.83% 261.5 Delayed Quote.-7.23%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DEUTSCHE BANK
10:47aCartel charges may mean share sales will become more difficult in Australia
RE
08:48aDEUTSCHE BANK : Breaks Up Strategy Team -- WSJ
DJ
06/21DB USA CORPORATION : Results of the Federal Reserve’s 2018 Dodd-Frank Act ..
PU
06/21DEUTSCHE BANK : Breaks Up Its Global Corporate-Strategy Group
DJ
06/21DEUTSCHE BANK : IMPORTANT DEADLINE NOTICE: The Schall Law Firm Announces it is I..
AC
06/21DEUTSCHE BANK : DFS Fines Deutsche Bank AG $205 Million for Unlawful, Unsafe and..
AQ
06/21Today's Free Research Reports Coverage on Itau Unibanco Holding and Three Mor..
AC
06/21DEUTSCHE BANK AG : Release according to Article 40, Section 1 of the WpHG [the G..
EQ
06/21DEUTSCHE BANK : Moves Reconciliation Services to SmartStream to Further Improve ..
AQ
06/21DEUTSCHE BANK : moves reconciliation to SmartStream Technologies
AQ
More news
News from SeekingAlpha
07:38aOPEC Showdown After Oil Output (Wall Street Breakfast Podcast) 
07:01aWALL STREET BREAKFAST : OPEC Showdown Over Oil Output 
06:04aFitch downgrades Deutsche Bank outlook 
02:17aTAKE THAT : (The U.S.) Rule The World 
06/21U.S.'S LARGEST BANKS WOULD BE ABLE T : Fed 
Financials (€)
Sales 2018 26 280 M
EBIT 2018 2 318 M
Net income 2018 812 M
Debt 2018 -
Yield 2018 2,05%
P/E ratio 2018 19,64
P/E ratio 2019 9,90
Capi. / Sales 2018 0,75x
Capi. / Sales 2019 0,75x
Capitalization 19 818 M
Chart DEUTSCHE BANK
Duration : Period :
Deutsche Bank Technical Analysis Chart | DBK | DE0005140008 | 4-Traders
Technical analysis trends DEUTSCHE BANK
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 28
Average target price 10,8 €
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Christian Sewing Chief Executive Officer
Karl von Rohr Co-President & Chief Administrative Officer
Garth Ritchie Co-President & Co-Head-Corporate & Investment Bank
Paul Achleitner Chairman-Supervisory Board
Frank Kuhnke Chief Operations Officer
Sector and Competitors
1st jan.Capitalization (M$)
DEUTSCHE BANK-39.60%23 045
JP MORGAN CHASE & COMPANY0.56%366 150
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-8.23%303 181
BANK OF AMERICA-0.88%296 475
WELLS FARGO-10.20%265 474
CHINA CONSTRUCTION BANK CORPORATION-8.07%255 193