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Deutsche Bank Surges on Report U.S. Mortgage Settlement Is Near

  • Stock rises most in two months as fine would provide clarity
  • CEO Cryan has pledged to resolve major legal issues this year
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Photographer: Chris Rank/Bloomberg

Deutsche Bank AG shares jumped the most in two months after a media report that Germany’s largest lender is nearing a settlement deal with U.S. authorities on an investigation into the sale of residential mortgage-backed securities.

The Department of Justice will send a 100-page statement of facts to the bank at the beginning of next week, Manager Magazin reported, without saying where it got the information from. Deutsche Bank’s fine might be higher than Goldman Sachs Group Inc.’s penalty of $2.38 billion, the German magazine reported.