Deutsche Bank managers cleared in internal Libor probe - report

FRANKFURT Sat May 10, 2014 9:30am EDT

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FRANKFURT May 10 (Reuters) - Deutsche Bank has cleared its top management after an internal investigation into manipulation of the Libor benchmark interest rate, German magazine WirstschaftWoche reported.

The probe found no misconduct by senior managers, the magazine reported on Saturday, citing high-placed sources at the bank.

Led by co-chief executives Juergen Fitschen and Anshu Jain, Deutsche Bank is seeking to transform its corporate culture as it works through a long list of scandals, investigations and fines that came in the wake of the financial crisis.

Germany's biggest lender declined to comment on the report and reiterated it was cooperating with all investigations.

Regulators are looking into more than a dozen banks and brokerages over allegations they manipulated benchmark interest rates such as Libor and Euribor, which are used to price trillions of dollars of financial products from derivatives to mortgages and credit card loans. (Reporting by Harro ten Wolde and Thomas Atkins; Editing by Toby Chopra)

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