Deutsche Bank will settle with US regulators for $7.2 billion over financial crisis-era residential mortgage-backed securities.
The $7.2 billion figure was announced in December by the bank, and confirmed on Tuesday by the Department of Justice.
The settlement comes after months of wrangling between the bank and regulators. The original settlement was reported to be around $14 billion, which sent Deutsche Bank’s stock into a tail spin in September 2015.
After talk of a possible bailout from the German government, the bank eventually brought the settlement lower.
Following the announcement, shares of Deutsch Bank’s US tracking stock bounced slightly. The stock is still trading down by 2.55% for the day, however, as of 2:50 p.m. ET.
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