Tag: Rabobank

Rabobank

Two Former Deutsche Traders Guilty in Libor Trial

Two former Deutsche Bank interest rate traders have been found guilty by a New York jury of a scheme to manipulate the London Interbank Offered Rate (Libor) benchmark fix.
The two men, New York-based Matthew Connolly and London-based Gavin Campbell Black remain on bail pending post-trial motions likely to be complete in the first quarter of 2019. Connolly was found guilty on three of six counts, while Black was found guilty of two counts. Lawyers for both men have publicly stated their intention to appeal.

Deutsche, JPM Move to Settle Libor Class Action

Deutsche Bank and JP Morgan have filed court documents seeking to settle a class action claim brought against them and other market participants over alleged Yen interest rate benchmark manipulation.
The documents were filed Friday in the US District Court of Southern New York and while the two banks do not admit liability or wrongdoing, Deutsche has agreed to pay $77 million and JP Morgan $71 million. These settlements are more than double those agreed by HSBC and Citi last year.