Deutsche Bank said to suspend Euribor traders

Feb 06, 2013, 12:18 PM EST

Deutsche Bank has suspended five traders as part of its internal inquiry into whether staff were involved in manipulating benchmark interest rates, the Financial Times reports. The quintet were cash traders on the bank’s Frankfurt-based money market desk and were said to have been suspended on Tuesday. At issue is the alleged manipulation of the Euro Interbank Offered Rate, or Euribor, a rate similar to Libor used as a benchmark for euro trades. Deutsche previously fired two traders in connection with its investigation into whether Libor was manipulated.