1 Aug 2012

Libor involvement confirmed by Deutsche Bank

1:16 pm on 1 August 2012

Deutsche Bank has confirmed a limited number of employees were involved in the Libor rate-rigging scandal.

However, the bank says an internal inquiry has cleared senior management of taking part in attempts to manipulate the rate at which banks lend to each other.

Deutsche Bank also says it will shed 1900 personnel , mostly outside Germany, due to the European economic downturn.

Some 1500 positions will go from Deutsche's investment bank.