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Deutsche Bank says U.S. DoJ asks it to pay $14 billion to settle mortgages case [View all]
Source: Reuters
U.S. | Thu Sep 15, 2016 6:34pm EDT
Deutsche Bank says U.S. DoJ asks it to pay $14 billion to settle mortgages case
The U.S. Department of Justice is asking Deutsche Bank (DBKGn.DE) to pay $14 billion to settle an investigation into its selling of mortgage-backed securities, Germany's flagship lender said on Friday.
The claim against Deutsche, which is likely to be negotiated in several months of talks, far outstrips the bank's and investors' expectations for such costs.
"Deutsche Bank has no intention to settle these potential civil claims anywhere near the figure cited. The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts", Deutsche Bank said.
(Reporting by Arno Schuetze, editing by G Crosse)
Deutsche Bank says U.S. DoJ asks it to pay $14 billion to settle mortgages case
The U.S. Department of Justice is asking Deutsche Bank (DBKGn.DE) to pay $14 billion to settle an investigation into its selling of mortgage-backed securities, Germany's flagship lender said on Friday.
The claim against Deutsche, which is likely to be negotiated in several months of talks, far outstrips the bank's and investors' expectations for such costs.
"Deutsche Bank has no intention to settle these potential civil claims anywhere near the figure cited. The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts", Deutsche Bank said.
(Reporting by Arno Schuetze, editing by G Crosse)
http://www.reuters.com/article/us-deutsche-bank-mortgages-idUSKCN11L2VQ
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