Deutsche Bank and JP Morgan to Pay $148 million for Libor Rigging
According to Reuters, Deutsche Bank AG and JP Morgan Chase & Co have agreed to pay a combined $148 million to end private U.S. antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates.
” $77 million for Deutsche Bank and $71 million for JP Morgan “
The preliminary settlements, totaling $77 million for Deutsche Bank and $71 million for JP Morgan, were detailed in filings late Friday in the U.S. District Court in Manhattan, and require a judge’s approval. Deutsche Bank and JP Morgan did not admit wrongdoing or liability in agreeing to settle, court papers show.
About JP Morgan
JP Morgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States. With a history dating back over 200 years, here’s where we stand today:
- We are a leading global financial services firm with assets of $2.4 trillion.
- We operate in more than 100 countries.
- We have over 235,000 employees.
- We serve millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients.
- We are a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.
- Our stock is a component of the Dow Jones Industrial Average.
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
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