• Fed, New York regulator may announce deal as soon as next week
  • More than 10 other global banks have settled sanctions cases

Deutsche Bank AG is close to settling a regulatory probe into alleged violations of U.S. sanctions laws, probably paying about $200 million, according to a person briefed on the matter.

The New York Department of Financial Services and the Federal Reserve may announce the deal with Germany’s largest bank as soon as next week, the person said, asking not to be identified because the talks are confidential. The agreement wouldn’t resolve investigations opened by the Manhattan district attorney’s office and the U.S. attorney’s office in Manhattan, the person said.

Amy Chang, a spokeswoman for Deutsche Bank in Hong Kong, declined to comment. Spokesmen for the regulators also declined or didn’t respond to messages seeking comment. The Frankfurt-based bank previously said it’s cooperating with investigators. The New York Times reported the settlement talks earlier Wednesday.

More than 10 other global banks have resolved claims in recent years that they violated U.S. sanctions laws against Iran and other blacklisted nations -- in many cases, with penalties dwarfing the fines that Deutsche Bank is close to paying. Earlier this year, Commerzbank AG, Germany’s second-largest lender, paid $1.45 billion to settle claims it violated sanctions and money-laundering laws.

Deutsche Bank is scheduled to announce restructuring changes Thursday as co-Chief Executive Officer John Cryan seeks to improve capital levels, as well as profits that have been hurt by surging litigation costs and tougher regulations.

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