Deutsche Bank says it will cooperate in rate probe
Deutsche Bank may escape with a lighter penalty than other banks in Europe if investigators impose fines in the wake of an interest rate-rigging scandal, two sources familiar with the bank told Reuters on Sunday.
They said Deutsche Bank has applied to cooperate with authorities in their investigation under the leniency programmes of the European Union and in Switzerland, but that it did not mean the bank was admitting any guilt.
"The bank last year obtained the status of being a witness for the prosecution in the EU and in Switzerland," one source said.
"As a result of that, the bank could get a lighter penalty if a punishment is imposed," another said.
Deutsche Bank's application under the leniency programme has been approved.
A global investigation into manipulation of interbank lending rates widened two weeks ago with Britain's fraud squad taking up the case.
The Daily Star/Bangladesh/ 16th July 2012