Deutsche Bank conducts internal inquiry

By Marc Castro

Oct 21, 2013 06:33 PM EDT

The largest European investment bank in terms of revenues, Deutsche Bank AG, is conducting its own internal inquiry through the interview of nearly fifty employees. The internal inquiry is related to the allegations of benchmark interest rate rigging, according to an individual with personal knowledge on the inquiry.

The said interviews are part of an investigation which had included conversations with staff. Also included in the probe is a review of their electronic communications after the bank's executives were informed that in 2011, there was an attempt to manipulate the market. This was confirmed by an anonymous source.

Regulators throughout the world are also conducting inquiries as to the participation of nearly twelve lenders, including Deutsche Bank AG in the said rigging scandal. Other banks identified include Barclays Plc, UBS AG and the Royal Bank of Scotland Plc, who were already fined USD2.6 billion for rigging the LIbOR, which is the benchmark for about USD300 trillion of securities worldwide.

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