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Deutsche Bank settles derivatives case in US

It will pay US$55 million penalty for its inadequate internal accounting controls during the financial crisis

The settlement closes the door on a five-year investigation into claims that the bank mispriced assets held in a large portfolio of derivatives to hide potential trading losses in the credit markets during the financial crisis.

New York

DEUTSCHE Bank "overstated" the value of a multibillion-dollar portfolio of sophisticated derivatives during the height of the financial crisis, leading it to file inaccurate financial statements for at least a six-month stretch, securities regulators in the United States said...

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