Deutsche Bank ends up in the crosshairs of Bafin, the German authority that supervises the financial markets. This is a "special investigation" (more severe than routine investigations) also involves three other banks and has to do with a suspect manipulation of the Euribor. The news was released by the Sueddeutsche Zeitung newspaper.
The measure follows the request for information made by the German Authority to all the banks in the country that participate in the fixing of the Euribor, ie the average interest rate on financial transactions in euro among the main European banks. Calculated daily, the Euribor is often used as the base rate for calculating variable interest, such as that on mortgages.
Among the other institutes under investigation there would also be Portigon, the institute born from the separation of WestLB. Deutsche Bank is already under special investigation by the BaFin for suspected manipulation of the Libor, the other reference rate of the interbank market.
