This is part 257 of the ‘bankers behaving badly’ series.
Germany’s financial watchdog has expanded a probe of Deutsche Bank to include other banks, according to the WSJ.
“We have asked all German banks (significantly) active in currency trading to probe whether their staff has engaged in the manipulation of currency trading,” said Raimund Roeseler, head banking supervision at German financial regulator BaFin, on the sidelines of a conference Tuesday.
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The bank supervisor said BaFin had seen telephone transcripts and emails “that show traders were asking for higher or lower (currency) fixing prices, and counterparts that then dumped, for example, €400 million to move markets.”
Meanwhile, officials in Brussels have charged HSBC, JPMorgan and Credit Agricole with participating in a cartel to manipulate Euribor.
