Tough challenges:Deutsche Bank co-CEO misled Bundesbank, says German Regulator

Deutsche Bank’s co-CEO Anshu Jain may have “knowingly made inaccurate statements” to Germany’s Bundesbank amid probe into manipulation of the inter-bank rate setting process, the Financial Times reported online, refering to a confidential report from German regulator BaFin.

According to media sources,the German controller has been investigating Deutsche Bank and the role it played amid the financial crisis when a global inter-bank lending rate mechanism was being manipulated.

According to the report of Financial Times, BaFin recommends that Deutsche Bank ought to face “special banking supervisory measures” as a result.

The report said, Jain, who resigned his position as CEO effective June 30, is accused for having “knowingly made inaccurate statements” in a 2012 interview with the German central bank.

Deutsche Bank AG is a German global banking and financial services company, which offers a range of products and services in investment, corporate and retail banking, as well as in asset and wealth management.