US regulators have fined Deutsche Bank, Germany’s largest lender, $70 million for attempted manipulation of a global benchmark for interest-rate derivatives and other financial instruments, AFP reports. The Commodity Futures Trading Commission (CFTC) said late on Thursday that the German bank’s subsidiary, Deutsche Bank Securities, “made false reports and through the acts of multiple traders attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix.” The attempted manipulation took place between January 2007 and May 2012, the CFTC said, adding that traders “knew their conduct was illegal.”

… and who was CEO in this time at Deutsche Bank?

https://en.wikipedia.org/wiki/Josef_Ackermann

According to the Financial Times Deutschland Ackerman earned €9.4 million in 2009 and €8.8 million in 2010.[6] His included bonus in 2009 was €8.2 million and €7.1 million in 2010. He is a member of the Steering Committee of the Bilderberg Group.[7]

Employer Deutsche Bank (CEO, 2002-2012)

what is also interesting to know… Goldman Sachs might have some influence at Deutsche Bank.

Morning Coffee: Goldman Sachs’ stealth takeover of Deutsche Bank could soon be complete. ‘Banker neck’ a recognized thing

… while Bank of America hired in plenty of ex-Goldman staff to its markets business …, it’s never actually been run by someone from Goldman Sachs (John Thain was ejected three weeks after the Merrill Lynch merger).
Deutsche may yet have this pleasure by the end of 2018.

https://news.efinancialcareers.com/de-en/304972/marcus-schenck-goldman-sachs-deutsche-bank/

1 Comment


  1. US regulators fine Deutsche Bank $70mn for trying ‘to rig benchmark rate’ https://gnusocial.de/url/4978909

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