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Jain Says Davos Bankers Discussed Global Libor Settlement

Deutsche Bank AG co-Chief Executive Officer Anshu Jain said he discussed a possible global settlement of alleged rigging of interbank lending rates with fellow CEOs at the World Economic Forum in Davos this month.

“This came up in Davos, a number of bank CEOs were there and we openly discussed whether this made sense for there to be a process,” Jain said at a news conference in Frankfurt today. “There were unofficial discussions, where we felt that if you went back and looked at other industries that have gone through an industry-wide settlement process, whether there is something to be gained.”