Deutsche Bank to pay $7.2 billion in bond settlement

  23 December 2016    Read: 1294
Deutsche Bank to pay $7.2 billion in bond settlement
Deutsche Bank says it has agreed on a $7.2 billion settlement with the U.S. Justice Department to end civil claims over its dealings in mortgage-backed securities.
The fine is around half the amount Deutsche Bank had warned it might have to pay earlier this year — a possibility that weighed heavily on the share price of Germany`s largest bank.

Deutsche Bank said the deal is not yet final.

The settlement, which isn`t final, would address the bank`s issuance of bonds backed by home mortgages in 2005-2007.

Such bonds helped start a global financial crisis when the mortgages went into default and the bonds went sour.

Credit Suisse also said Friday it had agreed on a $5.3 billion mortgage-bond settlement.

More about:


News Line