Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector newsTweets 

UBS nears deal with United States, UK over Libor

share with twitter share with LinkedIn share with facebook
share via e-mail
12/03/2012 | 09:14pm CEST

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

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on DEUTSCHE BANK AG
05:00p DGAP-DD : Deutsche Bank AG english
04:59p DGAP-DD : Deutsche Bank AG deutsch
12:17p Russia`s Gazprom to Issue Over $1Bln in Sterling Eurobonds Amid Brexit
03/29 European shares rise in 'relaxed' reaction to Brexit day
03/29 DEUTSCHE BANK : InvestaBank was not used for money laundering - regulator
03/28 DEUTSCHE BANK : London Subsidiary Sentenced for Manipulation of LIBOR
03/28 German benchmark DAX index gains 135.56 points
03/27 DEUTSCHE BANK : Van Hollen Calls on Sessions to Recuse Himself if Trump-Deutsche..
03/27 DGAP-DD : Deutsche Bank AG deutsch
03/27 DGAP-DD : Deutsche Bank AG english
More news
Sector news : Banks - NEC
08:19p CANADIAN IMPERIAL BANK OF COMMERCE : CIBC raises offer for PrivateBancorp to $4...
05:01p China's Creat makes 1.2 billion euro bid for German blood plasma firm
03:32p H&M invests in supply chain as fashion rivalry intensifies
01:53pDJChinese Bank Profits Improve, But Interest Is Fading
More sector news : Banks - NEC
News from SeekingAlpha
03/29 Not enough bad mortgages out there for Deutsche
03/29 Deutsche Bank AG (DB) Presents At Berenberg SRI Conference - Slideshow
03/24 WALL STREET BREAKFAST : Art Of The Healthcare Deal
03/24 Deutsche Bank picks new London office
03/23 IPO of Detusche Asset Management could come this year - Handelsblatt
Financials (€)
Sales 2017 29 691 M
EBIT 2017 3 262 M
Net income 2017 1 010 M
Debt 2017 -
Yield 2017 0,61%
P/E ratio 2017 25,72
P/E ratio 2018 11,44
Capi. / Sales 2017 1,13x
Capi. / Sales 2018 1,14x
Capitalization 33 409 M
More Financials
Duration : Period :
Deutsche Bank AG Technical Analysis Chart | DBK | DE0005140008 | 4-Traders
Full-screen chart
Technical analysis trends DEUTSCHE BANK AG
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus UNDERPERFORM
Number of Analysts 27
Average target price 14,2 €
Spread / Average Target -12%
Consensus details
EPS Revisions
More Estimates Revisions
John Cryan Chief Executive Officer
Paul Achleitner Chairman-Supervisory Board
Kimberly L. Hammonds Chief Operating Officer
Marcus Schenck Chief Financial Officer
Pascal Boillat Chief Information Officer & Head-Operations
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DEUTSCHE BANK AG-6.29%35 933
JPMORGAN CHASE & CO.2.29%315 297
WELLS FARGO & CO1.02%278 566
More Results