In Brief: Deutsche and Russian Bank Settle Dispute

Deutsche Bank AG, Germany's largest bank, and Eurobank, a subsidiary of the Russian Central Bank, have settled a $30 million legal dispute over a series of collapsed currency contracts.

The disagreement, settled for an undisclosed amount, came from five contracts signed in 1997 in which Eurobank agreed to deliver dollars to Deutsche Bank for rubles at specific exchange rates. The contracts had a total notional value of $52 million and were set at rates of about 6.2 rubles per U.S. dollar. Between Aug. 17, when the Russian government gave up its defense of its currency, and October, when the suit was filed, the ruble plunged about 60% against the dollar.