Deutsche Bank: a new fine and new losses

[nitpicker]

http://www.dw.com/en/deutsche-bank-a-new-fine-and-new-losses/a-42418662

Deutsche Bank: a new fine and new losses

Date 02.02.2018

Presenting its 2017 earnings report in Frankfurt on Friday, Deutsche Bank said it logged a net loss of €512 million ($639.7 million) for the full year. The figure marked the third consecutive year in negative territory, after losses of €6.8 billion in 2015 and €1.4 billion in 2016.

Deutsche said the 2017 loss was a result of the new US tax code, with the lender losing €1.4 billion in the final quarter. Without this one-off effect, Deutsche Bank would have logged a €900-million bottom-line profit, it said in a statement.
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Only hours earlier, Germany's largest lender agreed to pay $70 million to settle a claim by US regulators who had accused the bank of manipulating a benchmark for interest-rate derivatives. A statement by the US Commodity Futures Trading Commission (CFTC) said traders at Deutsche Bank Securities had sought to rig the ISDAfix benchmark and tried to steer the rate. It's a crucial benchmark in global financial markets that plays no small role in determining the values of trillions of dollars in interest-rate swaps and other financial instruments.

CFTC officials said abuses occurred between 2007 and 2012. "There is no room in our markets for manipulation," CFTC Director of Enforcement James McDonald said in a statement. "We will continue to work hard to stamp it out wherever we find it."
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