Deutsche Bank ends bond dispute by million-payment

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Logo of the Deutsche Bank

The institute pays 15 million euros in the USA.

(Photo: AFP)

new York The German bank has settled another litigation in the US with a multi-million dollar settlement. The Group is accepting a $ 15 million (€ 13.6 million) payment to file a lawsuit for alleged manipulation of the bond market. That came out on Thursday from court documents. Investors had accused the bank of year-long price fixing on mortgage securities issued by US real estate financiers Fannie Mae and Freddie Mac had been issued.

The lawsuit was also directed against a number of other major financial institutions. Deutsche Bank is the first institute to make a comparison. "We are glad to have solved the matter," said a company spokesman in New York. Deutsche Bank does not take any culpable action with the compromise, but had to commit to improving its internal controls. The settlement agreed with the plaintiffs must be finally approved by the competent federal court in Manhattan.

More: Deutsche Bank suffers from its own investment banking – the balance sheet for the second quarter of 2019

Finance briefing

(t) Investment (t) Property (t) Mortgage (t) Loan (t) Mortgage lending (t) Deutsche Bank (t) Fannie Mae (t) Freddie Mac (t) Banks & Credit Institutions (t) Mortgage lenders

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