(28 February 2018 – Global) Court papers show Deutsche Bank AG has agreed to pay US$240m to end its Libor rigging lawsuit in the US.
The bank has denied any wrongdoing but agreed to settle to avoid the risks, costs and distraction of litigation, making it the third bank to resolve claims related to accusations around manipulating Libor.
Banks have paid roughly US$9 billion to settle Libor-rigging probes worldwide. The UK Financial Conduct Authority has said it will phase out Libor by the end of 2021.