Deutsche Bank in raid on banks suspected of lending fixing

The European Commission (EC) has raided European banks as part of a probe into suspected fixing of interbank lending rates, including Deutsche Bank.

The European Commission carried out the searches due to concerns some of the companies involved could have broken anti trust rules, reports Reuters.

Deutsche bank is one of the banks which has been raided as part of the investigation into suspected fixing of the benchmark Euribor - the rate banks refer to when fixing a price on interbank euro loans.

It marks the third major banking probe this year after separate investigations into credit default swaps.

Euribor-EBF, which compiles the benchmark, challenged the suggestion prices have been fixed, added Reuters.