Violation Tracker Individual Record

Company: 
Deutsche Bank
Current Parent Company: 
Deutsche Bank
Penalty: 
$600,000,000
Year: 
2015
Date: 
April 23, 2015
Offense Group: 
competition-related offenses
Primary Offense: 
interest rate benchmark manipulation
Violation Description: 

Deutsche Bank agreed to pay $600 million to the Department of Financial Services, terminate certain employees and install an independent monitor to resolve allegations that it engaged in the manipulation of the benchmark interest rates, including the London Interbank Offered Bank (LIBOR), the Euro Interbank Offered Rate (EURIBOR) and the Euroyen Tokyo Interbank Offered Rate. At the same time, Deutsche Bank resolved a criminal case with the U.S. Justice Department and a civil case with the Commodity Futures Trading Commission.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
Germany
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.