Deutsche Bank will take a litigation charge of “approximately €1.5bn” in its first-quarter results, the German lender said yesterday as it neared a settlement of allegations that it tried to manipulate benchmark interbank lending rates.

A resolution of the long-running saga could come as early as today. The bank’s total fine is likely to be above €2bn, according to people familiar with the situation. That would represent the largest total penalty so far in connection with the scandal over the manipulation of Libor and other interbank borrowing rates. Deutsche Bank’s fine is expected to be pushed up by the involvement of New York’s Department of Financial Services, which has not taken part in such settlements with other banks.

Previously, the largest fine had been imposed on UBS, the Swiss bank, which paid $1.5bn to US, UK and Swiss authorities in 2012. Deutsche Bank is also seeking to settle with the US Department of Justice, the Commodity Futures Trading Commission and the UK’s Financial Conduct Authority, the people said.