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German govt welcomes Deutsche Bank settlement
December 23, 2016 / 9:28 AM / 9 months ago

German govt welcomes Deutsche Bank settlement

BERLIN, Dec 23 (Reuters) - The German government has welcomed Deutsche Bank’s $7.2 billion settlement with the U.S. authorities over the lender’s sale and pooling of toxic mortgage securities, a Finance Ministry spokeswoman said on Friday.

“We welcome the fact an agreement could be reached. We will not comment on the details,” spokeswoman Nadine Kalwey said.

The agreement in principle, announced by Deutsche Bank’s Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was hit hard in September after it acknowledged the Justice Department had been seeking nearly twice as much. (Reporting by Rene Wagner; Writing by Michael Nienaber,)

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