Deutsche suspends two in Libor probe

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The Independent Online

Deutsche Bank suspended two traders after it brought in external auditors to look at whether its staff were involved in manipulating Libor interbank lending rates.

The German banking giant, which has extensive investment bank operations in London, admitted it had received subpoenas and requests for information about Libor since 2005 from US and European regulators. It declined to comment further after the German magazine Der Spiegel reported it had suspended two employees earlier this year.

Investigators worldwide are examining more than a dozen big banks over allegations that the Libor rates were manipulated. Traders have been suspended, fired or placed on leave at banks including JP Morgan Chase, Royal Bank of Scotland and Citigroup as well as Deutsche.