Deutsche Bank to pay $220 mn to settle US rate rigging probe
Deutsche Bank has agreed to pay 45 US states a combined $220 million to settle a probe into interest-rate manipulation. The states' investigation found that the German bank made false London Interbank Offered Rate (Libor) submissions between 2005 and 2010 and inflated borrowing costs. UK's Barclays bank paid $100 million last year to settle the same probe.