BaFin probes Deutsche Bank over Euribor as well as Libor: paper
January 28, 2013 4:35 PM EST
The German banking regulator BaFin has launched a special probe against four lenders including Deutsche Bank AG
A special probe is the most severe kind of investigation the regulator can launch against a bank.
The German regulator is also investigating Portigon AG
Officials at Deutsche Bank and BaFin were not available for comment. Portigon officials were also not available for comment.
The special probes were launched after BaFin had asked for information from all German banks involved in setting Euribor rates, Sueddeutsche said.
Euribor and its larger counterpart, Libor, or the London Interbank Offered Rate, are Europe's key gauges of how much banks pay to borrow from their peers and are used to set the prices of swathes of financial products, from Spanish home mortgages to more complex derivatives.
Deutsche Bank is already being subjected to a BaFin special probe in connection with Libor.
Deutsche Bank has said it is cooperating with investigations in the United States and Europe in connection with setting rates between 2005 and 2011.
Earlier this month German landesbank BayernLB
More than 40 banks still contribute to the Euribor inter-bank lending rate, but the Euribor-EBF group running it warned recently that more could leave following recent bad publicity.
(Reporting By Edward Taylor; Editing by Matt Driskill)
Most Popular Slideshows
- Prince Harry & Camilla Thurlow Getting Serious, St. Tropez Holiday Before The Prince’s 30th Birthday [PHOTOS]
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Chris Martin Getting Serious With Jennifer Lawrence, Actress Joining Coldplay Tour [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Apple iPhone 6 Actual Release Date after September 9 Confirmed 128GB Variant with New Resolution
- Pricey iPhone 6 on Release Date Likely but with 3X Retina Resolution & Mobile Payment Service – Reports
- Moto G2 Release Roundup: Specs, Pricing, and Release Date Details
- PlayStation 4 Killing Xbox One Costing Microsoft Millions But It's Fine
- Google Chrome 64-bit for Windows 8 and Window 7 with Mac Beta Available
- Apple iOS 8 vs Android 5.0 L: OS Wars Puts Android to Lower while Apple to Higher
- Nexus 6 on Release Date Confirmed with Phablet-Size Display as FCC Filing Hints of 5.9-Inch Screen