WASHINGTON (MarketWatch) – There is no evidence the U.S. Justice Department is signaling out foreign banks for punishment for their roles in the financial crisis, the International Monetary Fund said Wednesday. “If you look at the magnitude of those fines, you’ll find that U.S. institutions have actually suffered more fines relative to other countries,” said Matthew Jones, assistant director of the IMF’s monetary and capital markets department, at a press conference Wednesday. Investor concern about the underlying profit model of banks and their ability to survive in the current environment of low interest rates has had a bigger impact on bank share prices than any concern about Justice Department fines, he added. The comment comes amid intense discussion over the size of the penalty that may be meted out to Deutsche Bank over faulty mortgages.
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