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Deutsche Bank rates swap emails refer to customer being ‘screwed’

Deutsche Bank rates swap emails refer to customer being ‘screwed’

(Reuters) – A Deutsche Bank (DBKGn.DE) employee referred to a client not liking to know they were being “screwed” in a 2007 email concerning the sale of an interest rate swap which is now at the centre of a landmark UK court case.

The comments were disclosed in papers submitted to the Court of Appeal on the first day of a three-day hearing into cases involving Deutsche and Barclays (BARC.L), which could set a precedent for whether attempted manipulation of the benchmark interest rate Libor can invalidate bank loans and other deals.

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