The US authorities condemn the RBS with $ 4.9 billion to increase the purses

ASHINGTON / LONDON – According to the US Department of Justice, the Royal Bank of Scotland (RBS) pays nearly $ 5 billion, the highest penalty ever paid by a bank for misconduct in the run-up to the financial crisis. According to data released on Tuesday, the ministry and the bank finally agreed on settlement payments of 4.9 billion dollars (4.30 billion euros).

This is to settle the dispute over US mortgage transactions. Already in May, RBS had communicated that it had agreed in principle to the settlement. But the continuing uncertainty surrounding the expected sentence slowed the institute. Now it announced it would pay its owners a dividend for the first time since its billion dollar rescue by the state in 2008.

The dispute involved the settlement of civil claims in connection with the issuance of mortgage-backed securities between 2005 and 2007. The Dax Corporation was accused of contributing to the collapse of the US housing market in 2008 with such deals. The original claim would be the highest penalty for a foreign bank ever imposed by US authorities.

For the bank, the uncertainty about the costs of numerous lawsuits is one of the biggest drag factors. They stopped the renovation again and again. In recent years, Deutsche Bank has already had to pay more than € 12 billion in penalties, including for its interest in interest rate manipulation (Libor), controversial mortgage transactions and breaches of trade sanctions.

Bank of America had to pay $ 16.65 billion

According to its own statements, Deutsche Bank expects a negotiated result, “which lies within the range of its competitors, who have already agreed with the US Department of Justice on significantly lower amounts.” However, other banks have already accepted high penalties in such cases in the context of settling with the US judiciary. The highest ever 2014 was Bank of America in 2014 with 16.65 billion dollars income.

So far, however, it had not been assumed in financial circles that Deutsche Bank would have to pay the same amount. Leading US investment bank Goldman Sachs approved about $ 5 billion in April. According to the newspaper, Deutsche Bank lawyers have quietly hinted that a sum of $ 2-3 billion would be appropriate to quickly settle the conflict.

Banks also have to defend themselves on a second front: the prosecutors of the 50 US states and numerous financial market regulators are investigating thousands of bad home pledges. Again, the Deutsche Bank is pilloried, although it has not lent itself loans to homeowners. Moreover, the people of Frankfurt have to defend themselves against allegations of having cheated on government loan programs. In all cases, Deutsche Bank denies any wrongdoing.