US Federal Reserve fined the largest German bank to 156 million. This time the reason was "unsafe practices in the currency markets."
The US Federal Reserve (Fed) has fined Deutsche Bank to 156,6 million. This is stated in a statement the Fed published on Thursday, April 20. In particular, Germany's largest bank was fined for "unsafe practices in the foreign exchange markets."
This is not the first penalty that Deutsche Bank received in the United States. In late March 2017, the Connecticut state court ruled that Deutsche Bank Group Service, whose headquarters is in London, is obliged to pay 150 million dollar fine because of the manipulation of interest rates. Previously, the credit organization was fined 425 million for the scheme "mirrored transactions" in Russian shares.
2016 year, Deutsche Bank completed with a loss of 1,4 billion euros. The losses, in particular, the charges became illegal fraudulent mortgage-backed securities in the United States, resulting in Deutsche Bank agreed to pay 7,2 billion euros in fines and compensation.