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Deutsche Bank, JPMorgan to pay $148 mn to end cases

The preliminary settlements is of $77 million for Deutsche Bank and $71 million for JPMorgan

Reuters 

Deutsche Bank warns of tough times ahead as braces for US fine

and have agreed to pay a combined $148 million to end private US antitrust litigation claiming they conspired with other banks to manipulate the yen and benchmark interest rates.

The preliminary settlements, totalling $77 million for and $71 million for JPMorgan, were detailed in filings late Friday in the US District Court in Manhattan, and require a judge’s approval. They followed similar settlements last year with Citigroup and HSBC Holdings totalling $23 million and $35 million, respectively.

Investors including the and J Kyle Bass’ hedge fund Hayman Capital Management had accused more than 20 banks of conspiring to rig yen Libor, and futures contracts to benefit their own positions from 2006 through at least 2010.

First Published: Sun, July 23 2017. 01:04 IST
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