Deutsche Bank, Bank of America to Settle Charges Over Bond Rigging

[kreslik.news]

US authorities have settled with Deutsche Bank AG (NYSE:DB) and Bank of America Corp (NYSE:BAC) on a preliminary basis, following allegations of rigging the government agency bond market. Consequently, both banks agreed to a collective $65.5 million preliminary settlement with the U.S. District Court in Manhattan.

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Lost in the turmoil of LIBOR and forex exchange (FX) rigging scandals has been the $9 trillion agency bond market. The preliminary settlements constituted $48.5 million for Deutsche Bank and $17 million for Bank of America, according ... (read more)