German banking regulators worried about attempts of foreign-exchange manipulation at large domestic banks and expects investigation by next year.
Raimund Roeseler, the head of bank regulation at BaFin: "We haven't concluded our investigation so I can't predict."
Deutsche Bank AG and Commerzbank AG fired individual traders attempted to manipulate rates. The banks are cooperating with authorities.
By the way, Deutsche Bank is still waiting BaFin's final verdict over Libor but Mr. Roeseler declined to comment on whether his authority will push for further consequences. Mr. Roeseler rejected the idea of any witch hunt telling that his authority "doesn't accuse Deutsche Bank of witchcraft."
BaFin has the "impression that banks started probes with the goal to prove their innocence" and too late focused on conducting an unbiased investigation into their role in market manipulation. "They didn't do themselves a favor with that," Mr. Roeseler told.
Credit: mql5.com
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