Deutsche Bank close to US$1.5b deal in Libor case: sources

New York

DEUTSCHE Bank is close to resolving a multi-year probe by US and UK authorities into interest rate manipulation, with a UK subsidiary expected to plead guilty, according to two people.

Germany's biggest bank will probably finalise a settlement this month, the people said. The unit expected to plead is Deutsche Bank Group Services, one of the people said.

The bank is also expected to pay penalties of more than US$1.5 billion to wrap up probes by the US Justice Department, the Commodity Futures Trading Commission, New York's Department of Financial Services and the UK's Financial Cond…