RBS Braces Itself for Libor Deal. RBS. Libor scandal: Deutsche Bank admits some staff involved. 31 July 2012Last updated at 10:53 ET Deutsche is to shed 1,900 staff and review staff pay after reporting a 63% fall in second quarter profit Deutsche Bank has confirmed that a "limited number" of staff were involved in the Libor rate-rigging scandal.
However, it said an internal inquiry had cleared senior management of taking part in attempts to manipulate the rate at which banks lend to each other. Deutsche Bank also announced it is to shed 1,900 staff, mostly outside Germany, due to the European economic downturn. Most of the posts - 1,500 - will go from Deutsche's investment bank. Deutsche Bank. CFTC Orders Barclays to pay $200 Million Penalty for Attempted Manipulation of and False Reporting concerning LIBOR and Euribor. Barclays Found To Engage In Massive Libor Manipulation, Gets Wrist-slapped By Coopted Regulators. We can finally close the case on the massive Libor manipulation issue that we first brough to the world's attention back in January 2009 when we penned: "This Makes No Sense: Libor By Bank.
" As of minutes ago, Barclays is the first bank to admit it has engaged in gross manipulation of the key benchmark rate that sets the cost of capital for $350 trillion in interest-rate sensitive products. As the CFTC notes, as it produly announces an epic wristslap of $200 million for Barclays Bank: "The Order finds that Barclays attempted to manipulate and made false reports concerning two global benchmark interest rates, LIBOR and Euribor, on numerous occasions and sometimes on a daily basis over a four-year period, commencing as early as 2005.
" Surely this massive fine will teach them to never do it again, until tomorrow at least, when the British Banker Association once again finds 3 month USD liEbor to be... unchanged. Barclays. FSA findings on Barclays Libor manipulation. Barclays statement of facts from the Justice Department. The Li(e)bor Rigging Scandal Infographic For Dummies.