Deutsche Bank could receive record $14 billion fine in the United States
Deutsche Bank AG, the biggest German bank could receive a $14 billion fine from the US Justice Department in a dispute related to toxic real estate loans sold before the 2007-2008 economic crisis.
According to AFP, if the figure is maintained, it will be the highest fine ever given to a foreign bank in the United States, surpassing the previous record of 8.9 billion dollars, a penalty received by the French group BNP Paribas in 2014 for violation of US embargoes.
Deutsche Bank AG headquarter in Frankfurt am Main (© Raimond Spekking / CC BY-SA 4.0 (via Wikimedia Commons)
“We confirm market’s speculation that the US Department of Justice began negotiations with a request for an amount of $ 14 billion. In the next step, the Justice Department asked the bank to submit a counteroffer”.
However, according to various sources, the final fine could fall significantly below $14 billion.
According to Deutsche Bank, negotiations are just in their beginnings, and the final fine could be similar to those received by other large banks for similar charges.
If you discussing viagra free pill then you should include natural food in your diet to stay healthy and keep the reproductive organs in upbeat health. This is the main reason levitra brand why it has become popular amongst the learners. This product named Forzest is an excellent treating alternative for men who dislike gulping the tablets, go with 5mg cialis online this alternate of jelly. The average delivery of the product from popular sildenafil prescription Thepharmadrugstore.com is about 12 days.
As with other financial groups, Deutsche Bank is accused of selling real estate loans packaged into complex financial products, named RMBS, to investors, even though it knew the loans were toxic assets.
US bank Goldman Sachs got a $ 5.06 billion fine for similar offenses in April 2014.
After the announcement by the German bank, Deutsche Bank shares lost more than 8% in early trading at the Frankfurt Stock Exchange on Friday.
Several voices speculate the Deutsche Bank fine comes as a US retaliation for European Commission’s decision to make Apple Inc. pay up to 13 billion Euro in back taxes to Ireland.