The US Federal Reserve fined the largest German bank for USD 156 million, Correspondent.net reports.
The US Federal Reserve System (FRS) fined Deutsche Bank for 156.6 million dollars, according to the message of US regulator. In particular, the largest German bank was fined for “dangerous practices on foreign currency markets”.
This is the first fine, which Deutsche Bank receives in the USA. In late March 2017, the State Court Connecticut ruled that Deutsche Bank Group Service, headquartered in London, must pay 150 million dollar of the fine due to manipulations with interest rates. Previously, the loan organization was fined for USD 425 mln for the scheme of “mirror deals” with Russian shares.
Deutsche Bank ended 2016 with the losses, amounting to 1.4 billion euros. The losses were caused, in particular, by the accusations of illegal machinations with mortgage securities in the USA, as the result of which Deutsche Bank agreed to pay 7.2 billion euros as fines and compensations.
It should be reminded that Deutsche Bank will pay the fine, amounting to 630 million dollars for the illegal scheme of withdrawal of 10 billion dollars from Russia.
