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Fitch sees European bank fines likely below Deutsche's $14 bln

LONDON, Sept 21 European banks are likely to reach final U.S. settlements over alleged mis-selling of mortgage-backed securities well below the $14 billion claimed by the Department of Justice against Deutsche Bank, Fitch Ratings said on Wednesday.

The DoJ announced the unexpectedly high claim on Deutsche Bank last week, far exceeding the 3 billion euro ($3.3 billion) toll the bank expected.

Fitch Ratings on Wednesday echoed comments by Deutsche officials that they expect the final total paid by the German lender to be far lower, seeing the DoJ's claim as an opening position.

All U.S. banks have already settled with the DoJ and in many cases final settlements were far below initial reports, Fitch said.

Deutsche Bank is the first European lender whose potential settlement with the DoJ has been made public, sparking fears that other banks could face much bigger totals than had been expected.

RBS shares fell over 5 percent on Friday after the Deutsche announcement.

Barclays, Credit Suisse, HSBC, Royal Bank of Scotland Group and UBS, are among the banks waiting to reach settlements with the DoJ over claims they mis-sold mortgage-backed securities in the run up to the 2008 financial crisis.

($1 = 0.8973 euros) (Reporting by Lawrence White; Editing by Ruth Pitchford)

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