FRANKFURT, Sep 16 (Reuters) - The US Justice Department is charging Deutsche Bank's US $ 14 billion to close an investigation on the sale of mortgage-backed securities, he said the German bank on Friday (16).
The collection, which will probably be negotiated for several months, goes far beyond estimates of bank and investors on such costs.
"Deutsche Bank has no intention to close the case in any region near this number quoted. The negotiations are just beginning. The bank expects that they will lead to a similar result to that obtained by other banks resolved disputes materially lower values," he said the institution.
The case involves civil proceedings on the issue and subscription of securities
backed by residential mortgages and known as RMBS, related to securitization activities between 2005 and 2007.
In late June, Deutsche Bank had a total of 5.5 billion euros ($ 6.2 billion) in legal reserves to cover lawsuits.
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