Deutsche Bank said to face regulatory fines over currency trades

Deutsche Bank was said to be facing fines by the Federal Reserve and New York's Department of Financial Services for its currency trades.

Although DB said on Monday that the US DoJ had closed a criminal inquiry into its conduct in the foreign exchange market without action, Bloomberg cited a person familiar with the matter as saying that US regulators are in the final stages of their reviews of that conduct to determine what fines, if any, the bank should pay.

The Federal Reserve has finished its investigation, the person said, and the New York bank regulator is set to wrap up its own probe.

In the last two years, DB has reached settlements with the Justice Department over allegations of interest-rate manipulation and its sale of toxic mortgage securities.

It also struck settlements with the Department of Financial Services over sanctions violations and 'mirror trades'.

At 1000 GMT, the shares were down 8.7% to €15.70 as the stock went ex-rights.