The German bank agreed to pay out $7.2bn as part of the deal, far lower than the $14bn demanded by US authorities in September.
Confirmation of the settlement was warmly received by markets, pushing Deutsche Bank’s share price up 2.6% to €18.22.
Shares in the bank have all since recovered from hitting their low point in September after German chancellor Angela Merkel announced the government would not bail out the bank, making investors increasingly nervous about the strength of its balance sheet.
Credit Suisse was fined $5.28bn by the DoJ, comprising a civil penalty of $2.48bn and $2.8bn in consumer relief, which it will pay over a five-year period.
Its shares were trading 2.4% higher at 15.66 CHF (Swiss Francs) after the initial news broke but slumped down to 15.26 CHF at the time of writing.
