Deutsche Bank, JPMorgan to pay $148 mn to end cases

The preliminary settlements is of $77 million for Deutsche Bank and $71 million for JPMorgan

Deutsche Bank and JPMorgan Chase & Co have agreed to pay a combined $148 million to end private US antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates.

The preliminary settlements, totalling $77 million for Deutsche Bank and $71 million for JPMorgan, were detailed in filings late Friday in the US District Court in Manhattan, and require a judge’s approval. They followed similar settlements last year with Citigroup and HSBC Holdings totalling $23 million and $35 million, respectively.

Investors including the California State Teachers’ Retirement System and J Kyle Bass’ hedge fund