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German regulator to intensify Deutsche Bank libor probe - sources

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(Globalpost/GlobalPost)

FRANKFURT/BERLIN (Reuters) - German regulator Bafin has raised doubts about Deutsche Bank's <DBKGn.DE> internal probe of its role in setting inter-bank lending rates and will intensify its probe of Germany's biggest lender, two sources familiar with Bafin's report said.

Bafin, which has been investigating Deutsche Bank's involvement in setting the London Inter-Bank Offered Rate, or Libor, has reviewed Deutsche Bank's internal findings as part of its own probe, the sources said on Thursday.

It is too early to draw any conclusions about the possible consequences of the intensified probe, one of the two people said.

Deutsche Bank, Bafin and the Bundesbank, which is also responsible for banking supervision, declined to comment.

Deutsche Bank previously confirmed it was cooperating with authorities after it received subpoenas and requests for information from various regulatory and law enforcement agencies that were probing suspected manipulation of inter-bank rates.

(Reporting By Matthias Sobolewski, Edward Taylor and Arno Schuetze; Editing by Maria Sheahan)

http://www.globalpost.com/dispatch/news/thomson-reuters/130418/german-regulator-intensify-deutsche-bank-libor-probe-sources