With a fine against Deutsche Bank in the U.S. imminent, the bank is looking to cut its loan securitization business further starting with repackaged U.S. mortgages, two people familiar with the matter told Reuters.

A final decision about this core business is set to come early next year, the people said, and securitization cutbacks could become a central part of an expected strategic overhaul at the bank, once U.S. authorities have settled on a penalty.

"We have already shrunk the business over the last two to three years," a person with direct knowledge of the bank's plans said. "It could shrink a lot more. Not only sales and trading, but also in origination."

If the move plays out as reported, it would signal a departure from a core business that helped Deutsche Bank become one of the most dominant investment banks in the world before the financial crash.

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