Deutsche Bank talking to 50 employees over Libor: paper

FRANKFURT Sun Oct 20, 2013 1:17pm EDT

Pedestrians are reflected in a window as they walk in front of the headquarters of Deutsche Bank AG in Frankfurt September 5, 2011. REUTERS/Alex Domanski

Pedestrians are reflected in a window as they walk in front of the headquarters of Deutsche Bank AG in Frankfurt September 5, 2011.

Credit: Reuters/Alex Domanski

FRANKFURT (Reuters) - Deutsche Bank has started talks with some 50 employees as part of its investigation into possible manipulation of the Libor benchmark interest rate, a German newspaper reported.

The talks follow a probe by auditor Ernst & Young, which has over the past couple of months been checking emails and conversation in electronic chatrooms for irregularities, Handelsblatt reported in a pre-release of its Monday edition.

The staff are being allowed to bring lawyers or witnesses to the talks, the paper reported.

Deutsche Bank declined to comment on the report.

Deutsche Bank has said it is talking to authorities in the United States and Europe investigating the setting of London and European interbank offered rates, interest rate benchmarks known as Libor and Euribor, between 2005 and 2011.

Libor is used as a reference benchmark to price billions of euros of financial contracts.

German financial markets regulator BaFin handed over a report of its findings on Deutsche in August, but said at the time that it would continue the investigation if new facts came to light.

(Reporting by Arno Schuetze; Editing by Alison Williams)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
Rich_F wrote:
Not sure being the one eyed king in the land of the blind is something to crow about.

Oct 20, 2013 5:58pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.