FRANKFURT (dpa-AFX) - Deutsche Bank AG's (DB) negotiations with the U.S. Justice Department to resolve a years-long investigation into the lender's handling of mortgage-backed securities are continuing, according to report citing people familiar with the matter.
Germany's Bild newspaper reported that Chief Executive Officer John Cryan wasn't able to reach an agreement with the Justice Department during a meeting in Washington. He was there to help negotiate potential multibillion-dollar penalties.
The report noted that German lender and U.S. authorities haven't broken off their talks. Concerns about the bank's ability to pay a $14 billion opening settlement bid from the Justice Department sent the company's stock to a record low last month. Cryan has reportedly said he expects U.S. authorities to scale back the initial request.
Copyright RTT News/dpa-AFX