KfW executives Detlef Leinberger and Peter Fleischer have been suspended on full salary following the German state bank's transfer of €350 million ($511 million) last week in a failed swap deal with Lehman Brothers.

The transfer occured after Lehman announced that it faced bankruptcy.

In a statement, the bank said that it has hired a law firm to examine whether the events that have been identified call for appropriate legal consequences against its two board members who failed to prevent the transfer.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.