German Finance Watchdog Fines Deutsche Bank for EURIBOR Controls

The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside an office building of the BaFin in Bonn, Germany, on April 15, 2019. Wolfgang Rattay/Reuters

FRANKFURT—The German financial regulator BaFin on Wednesday said it had fined Deutsche Bank $10 million for controls related to the Euro Interbank Offered Rate (EURIBOR), a setback for the nation’s largest lender as it seeks to restore its reputation.

The fine of 8.66 million euros ($9.77 million) is the first imposed by BaFin under a 2018 regulation that seeks to prevent manipulation of the rate, a benchmark used in the financial industry.