So I think that a bad settlement is always better than a good trial," the International Monetary Fund’s managing director told Bloomberg Television. "We’re not in a trial mode clearly in the case of Deutsche Bank," she said. "Deutsche Bank had put aside 5.5 billion euros ($6.1 billion) for its pending legal costs. The main one is US charges that it knowingly sold high-risk housing loan securities as low-risk investments before the 2008 financial crisis.The bank was shocked by the Justice Department’s $14 billion initial proposal, and strongly rejected it. Last week sources close to the matter told AFP that discussions were focused around a $5.4 billion figure.Lagarde was speaking during the annual meetings of the IMF and the World Bank in Washington.- AFP

Source: The Nation Bangkok October 06, 2016 18:33 UTC