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Lagarde: The sooner the U.S. can settle with Deutsche Bank, the better

Reuters

IMF Managing Director Christine Lagarde takes questions from the press at the annual meetings of the IMF and World Bank Group in Washington

The U.S. Justice Department should settle its ongoing probe into Deutsche Bank as quickly as possible to deliver some certainty to financial markets, said Christine Lagarde, the managing director of the International Monetary Fund, on Thursday.

Reports last month that the Justice Department was seeking a $14 billion penalty over faulty mortgages roiled the bank’s stock DB, -1.47% although subsequent stories have raised some doubts about size of that figure.

“A settlement would certainly be welcomed because it would deliver some certainty as to what weight the bank will have to carry and whether it matches with its provision or not.

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