Bundesbank concerned by US penalties for European banks

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"The United States' penalising of European banks is a considerable strain for those financial institutions," Bundesbank's banking supervision chief Andreas Dombret told Spiegel. "We are watching the situation very closely."

A New York court fined French bank BNP Paribas $9 billion last month for doing business in Sudan, Iran and Cuba.

Commerzbank and Deutsche Bank are also under investigation by U.S. authorities over trade with Iran. Commerzbank faces a fine for $600-800 million, sources have told Reuters.

Deutsche Bank could face a penalty of 600 million euros ($818.4 million), Spiegel said, without citing sources.

Deutsche Bank declined to comment on Sunday and pointed to a statement in its 2013 annual report, which said that it was co-operating with investigators. ($1 = 0.7331 Euros) (Reporting by Alexandra Hudson in Berlin and Harro ten Wolden in Frankfurt; Editing by David Goodman)

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