Libor Scandal: Deutsche Bank 'Braces Itself' For $1bn US And UK Fine

Deutsche Bank is allegedly bracing itself for a $1bn fine from U.S. and U.K. authorities after it was accused of manipulating two of the world's most important interbank lending rates, Libor and Euribor. According to sources, cited by Reuters, Germany's largest lender is on the cusp of striking the deal with the U.S. Department of Justice and the Financial Conduct Authority, after already spending $7.7 billion on litigation to deal with the allegations over the past two years.