The European Central Bank is examining whether to open a formal investigation in...
FRANKFURT - The European Central Bank is examining whether to open a formal investigation into Deutsche Bank for allegedly buying some of its own securities without authorization, two people familiar with the matter said on Wednesday.
The alleged offense, which could result in a fine if the bank is found to have broken rules, comes as Germany’s biggest lender tries to improve its reputation with investors and relationship with regulators after years of misdeeds.The securities at issue are known as AT1 and AT2 bonds. But it may defeat the purpose if the bank holds the bonds, which is why the ECB requires a bank to seek its authorization to do so.
The ECB eventually authorized Deutsche Bank to buy the bonds in 2017, but the ruling wasn’t retroactive.
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