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
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [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
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- Xiaomi Redmi 1S vs. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Three Dual SIM Samsung Galaxy Note 4 Duos Variants Comes To China
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- ‘Lone Wolf’ Attack on Canada Parliament Hill Could be ISIS-Related
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’