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Report: Deutsche Bank near US deal to pay $5.4B over RMBS

DeutscheBank AG is closing in on an agreement for a $5.4 billion to resolve U.S.litigation over its sales of RMBS, Agence France-Presse reported Sept. 30, citing"a person familiar with the talks."

A $5.4 billion payment would be a much lower fine thanthe $14 billion thatthe U.S. Department of Justice was reported to have demanded to settle thelitigation. Deutsche Bank had said it had no intention of settling for anywherenear the amount mooted by the DOJ, but concerns that the fine could leave it needing to raisefresh capital prompted media reports that plans were underway for astate-backed rescue.

Shares in the bank leapt after the AFP report. Theyclosed up 6.39% in Frankfurt trading at €11.57, and were trading up more than14% at $13.10 in New York as of 12:45 p.m. local time.

AFP's source said the settlement could be announcedwithin a couple of days, with the final amount still subject to slightvariation.