Deutsche Bank asked to pay $14 billion to resolve US mortgage securities probe

The Justice Department has suggested that Deutsche Bank pay $14 billion to settle a number of investigations related to mortgage securities, the bank confirmed on Thursday.

The bank’s Frankfurt-listed shares were the worst-performing stocks on the Stoxx600 Friday morning, down 6.8 percent.

The company previously thought that a settlement between $2 billion and $3 billion would be fair, as it had already paid $1.9 billion in 2013 to resolve similar claims, the Journal said.

Reuters reported that, in January, Goldman Sachs said it would pay more than $5 billion to settle claims it misled mortgage bond investors during the financial crisis. The following month, Reuters reported that Wells Fargo reached a $1.2 billion settlement over mortgage fraud allegations. The news service also reported that Bank of America came to a $16.65 billion settlement in 2014 and that JPMorgan settled for $13 billion in 2013.

Deutsche and the Justice Department did not immediately respond to CNBC’s request for comment.

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