IMF Chief gives Deutsche Bank tough advice on reform, need for fine deal
IMF chief Christine Lagarde gave Deutsche Bank (DBKGn.DE) some tough advice on Thursday, saying Germany's biggest lender needed to reform its business model and reach a rapid deal with U.S. regulators over a potentially huge fine.
A senior European official tried to shore up confidence in the continent's banking system, saying it was working well overall, while sources said Germany's financial watchdog had found no evidence so far that Deutsche violated money laundering rules in Russia, possibly relieving one of its many headaches.
However, Lagarde did not mince her words about the problems... read more
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