Deutsche Bank’s fine might be higher than Goldman Sachs Group Inc.’s penalty of $2.38 billion

Deutsche Bank AG is nearing an agreement with the U.S. Department of Justice to settle a long-running investigation into the sale of residential mortgage-backed securities, Manager Magazin reported.

U.S. authorities will send a 100-page statement of facts to Germany’s largest lender at the beginning of next week, the German magazine reported, without saying how it obtained the information. Deutsche Bank’s fine might be higher than Goldman Sachs Group Inc.’s penalty of $2.38 billion, the magazine reported.

Settling the U.S. case would clear a major legal hurdle for the lender that has paid more than $9 billion in fines and settlements worldwide since the start of 2008, according to data compiled by Bloomberg. Chief Executive Officer John Cryan has pledged to resolve the largest of the firm’s outstanding cases this year.

A Deutsche Bank spokeswoman declined to comment when contacted by Bloomberg.

Deutsche Bank shares rose as much as 4.9 percent to 13.75 euros as of 11:05 a.m. in Frankfurt.

Deutsche Bank, which had 5.5 billion euros set aside for settlements and fines at the end of June, will probably face “material” litigation charges in the second half, Chief Financial Officer Marcus Schenck told analysts in July.

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