Deutsche Bank has confirmed that the US Department of Justice (DoJ) has proposed a settlement of $14bn for its handling of residential mortgage-backed securities and related transactions.

However, the German banking giant said it has no intent to settle the claims near the proposed figure.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

“Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited. The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts,” the bank said in a statement.

Deutsche Bank is among many banks probed over sale of residential mortgage-backed securities, which played a major role in the 2008 financial crisis.

The banks were accused of misleading investors about the quality of their loans by the US government.

Major US lenders including JPMorgan, Bank of America and Citigroup have already reached settlements with US authorities to settle these charges.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.