Deutsche Bank

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European stocks fall as banking fears linger; Deutsche Bank and UBS shares slide ... This is CNBC's live blog covering European markets. European stock markets ...

[Read the full story here](https://www.cnbc.com/2023/03/24/deutsche-bank-shares-slide-8percent-after-a-sudden-spike-in-default-insurance-costs.html). stocks](https://www.cnbc.com/2023/03/23/stock-futures-are-up-slightly-as-investors-weigh-bank-troubles-fed-decision.html) dropped at the open. [Asia-Pacific markets](https://www.cnbc.com/2023/03/24/asia-markets-fall-over-yellen-remarks-on-banks-japan-core-inflation-slows-.html) were mixed on Friday, while [U.S. Federal Reserve [hiking](https://www.cnbc.com/2023/03/22/fed-rate-hike-decision-march-2023.html) by 25 basis points. dollar](/quotes/.DXY/) at $1.0732 at 1:10 p.m. [raised](https://www.cnbc.com/2023/03/23/swiss-central-bank-hikes-interest-rates-by-50-basis-points-despite-credit-suisse-turmoil.html) its own benchmark interest rate by 50 basis points. [Deutsche Bank](/quotes/DBK-FF/) dropped 10%, extending a 3.2% fall on Thursday after its credit default swaps, a form of insurance for bondholders, [pushed higher](https://www.cnbc.com/2023/03/24/deutsche-bank-shares-slide-8percent-after-a-sudden-spike-in-default-insurance-costs.html). "The strong actions we have taken ensure that Americans' deposits are safe," she added. Figures from the Insolvency Service show an uptick in redundancies in the coming months, while higher mortgage rates will begin to squeeze, Dickens added. [euro](/quotes/EUR=/) was down 0.9% against the [U.S. [said](https://www.cnbc.com/2023/03/23/yellen-says-treasury-is-ready-to-take-additional-actions-if-warranted-to-stabilize-banks.html) on Thursday that the emergency actions used to back up Silicon Valley Bank and Signature Bank customers could be deployed again amid concerns over U.S. Markets slightly trimmed losses after European Central Bank President Christine Lagarde told EU leaders the euro area banking sector was resilient due to strong capital, liquidity positions and post-2008 reforms.

Deutsche Bank stock tumbles amid continued turmoil in the banking sector. Meanwhile, Treasury Secretary Janet Yellen says emergency actions used to contain ...

U.S.-listed shares fell 7.5% in premarket trading. (ticker: DB) fell 12% in Frankfurt trading. Deutsche Bank

(Bloomberg) -- Deutsche Bank AG shares slumped and the German lender's credit-default swaps surged amid wider concerns about the stability of the banking ...

Deutsche Bank AG became the latest focus of the banking turmoil in Europe as ongoing concern about the industry sent its shares slumping the most in three ...

Deutsche Bank shares slumped on Friday, putting the health of another globally systemic important bank in the spotlight heading into the weekend.

Major central banks do have access to swap lines for dollar borrowing from the Fed, meaning that either it was an institution that does not have that capability, or it was one that wanted to do so anonymously. The Fed does not identify the counterparties. Analysts also noted that a foreign institution tapped a Fed facility for $60 billion, according to data released by the U.S. “It is doubtful that banks will be able to issue new AT1 anytime soon, increasing the likelihood of outstanding AT1 notes being extended. European and other banking regulators across the globe have insisted they will not follow Switzerland’s precedent, and first let bank equity fall to zero before wiping out the convertible securities in the event of a failure. It should be noted that Deutsche Bank’s 5-year credit-default swap, which was 215 on Friday, is nowhere near the peak for Credit Suisse, which was 1,194, according to S&P Global data.

European banks fell 4.5% and were set for their third week of declines, after the failure of U.S. midsized lenders and the turmoil at Credit Suisse ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). midsized lenders and the turmoil at Credit Suisse highlighted growing risks to banks in the wake of tightening financial conditions. Looks like the banking crisis hasn't been entirely put to bed," said Chris Beauchamp, chief market analyst at IG. The German heavyweight said that it would redeem $1.5 billion Tier 2 notes due in 2028. central bank signalled a pause in its hiking cycle. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) probe on Credit Suisse and UBS further souring the mood. The U.S. Department of Justice (DOJ) probe into whether financial professionals helped Russian oligarchs evade sanctions. benchmark S&P 500, meanwhile, is up 2.8% so far this year. Shares of UBS Group AG and Credit Suisse AG fell 6.3% and 6.7%, respectively, after Bloomberg News reported they are among the banks under scrutiny in a U.S. European banks fell 4.5% and were set for their third week of declines, after the failure of U.S.

A steep selloff in banking stocks hit European indices on Friday as worries about the stability of the financial sector intensified, with the news of a U.S. ...

The Deutsche Bank selloff comes despite the German lender having capital reserves well in excess of regulatory requirements and 10 straight quarters of profits.

banks](https://apnews.com/article/silicon-valley-bank-uk-bailout-hsbc-sale-4d2da0e9c6f39c0fd8faf321a2b295cf) and jitters about long-running troubles at Credit Suisse led shares of Switzerland's second-largest bank to tank and customers to pull out their money last week. International negotiators agreed to those rules following the 2008 global financial crisis triggered by the failure of U.S. The German lender has capital reserves well in excess of regulatory requirements and saw 10 straight quarters of profits. Deutsche Bank shares tumbled 10.9% in early afternoon trading on the German stock exchange. [aimed to stem the upheaval in the global financial system](https://apnews.com/article/credit-suisse-ubs-banking-collapse-svb-4eb7f8e70849072b13d067382230d448) after the [collapse of two U.S. [dragging down major European banks](https://apnews.com/article/shares-stocks-market-yellen-banks-e9bbcd70b85319fee36bab605bb34d03) and leading German Chancellor Olaf Scholz to express confidence in the solidity of the country's largest lender as fears about the global financial system sent fresh shudders through the markets.

Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) today announced its decision to redeem its US $1,500,000,000 Fixed to Fixed Reset Rate Subordinated Tier 2 Notes ...

These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

FTSE 100 also falls amid fears another bank could slip into trouble after UBS takeover of Credit Suisse.

It’s does the market have confidence in our liquidity?” “I can’t see it – yet,” they said, adding that the “worry of contagion may become contagion itself”. They helped to drag the FTSE 100 down by 1.6%. If this spikes upward it can be an indication that investors believe that the entity behind the CDS is more likely to default on its debts. Shares in the German bank fell as much as 14% before recovering some ground to end Friday down 8.6%. Europe’s Stoxx 600 banks index fell 4%, and the UK’s banking index fell more than 3%.

The German institution is “on everyone's minds” as the possible next “domino to fall,” according to one analyst.

About half of the outflows came in the weeks following Silicon Valley Bank’s collapse, according to J.P. banks lost about $1.1 trillion in deposits over the last year, according to a recent J.P. The unexpected failures of mid-sized American banks Silicon Valley Bank and Signature Bank earlier this month sent shockwaves throughout the global financial system, eventually leading to the last-second rescue of Credit Suisse. banks each slid more than 1%, while shares of First Republic, the American bank most often floated as the next institution at serious risk, fell 5%. Holders of $17 billion in risky Credit Suisse bonds were not a part of the rescue deal and were left empty-handed, contributing to the rise in Deutsche Bank credit default swap rates as investors hope to avoid similarly finding themselves out of luck. for its “irresponsible lending practices” in 2006 and 2007 that partially caused the Great Recession, managed to navigate through that controversy by dramatically cutting costs, cutting roughly 20% of its global workforce in a single day in 2018 and successfully turning a profit in its last 10 quarters.

A less discussed but better understood anomaly is the Friday Effect, which says that in times of crisis it's best to sell banks going into a weekend, just in ...

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Central banks and regulators had hoped that the Credit Suisse rescue deal would help calm investor jitters about the stability of Europe's banks.

and Europe, it is just how far regulators will always go to ensure depositors are protected," the note said. [underwent a multibillion-euro restructure](https://www.cnbc.com/2019/07/05/deutsche-bank-eyes-huge-multi-billion-euro-restructuring-drive.html) in recent years aimed at reducing costs and improving profitability. Credit Suisse's collapse boiled down to a combination of three causes, according to JPMorgan. relative value)," Autonomous strategists Stuart Graham and Leona Li said in a research note. These figures would not indicate that there is any cause for concern about the bank's solvency or liquidity position. Federal Reserve](https://www.cnbc.com/federal-reserve/) on Wednesday. JPMorgan was unable to determine whether the unprecedented depositor outflows suffered by the Swiss bank had been amassed by themselves in light of SVB's failure, or had been driven by a fear of those outflows and "lack of conviction in management's assurances." These were a "string of governance failures that had eroded confidence in management's abilities," a challenging market backdrop that hampered the bank's restructuring plan, and the market's "fresh and intense focus on liquidity risk" in the wake of the SVB collapse. At the time of SVB's collapse, Credit Suisse was already in the spotlight over its liquidity position and had suffered massive outflows in the fourth quarter of 2022 that had yet to reverse. The lender [recorded annual net income of 5 billion euros ($5.4 billion) in 2022](https://www.cnbc.com/2023/02/02/deutsche-bank-smashes-profit-expectations-in-fourth-quarter-as-higher-interest-rates-bolster-revenue.html), up 159% from the previous year. [emergency rescue](https://www.cnbc.com/2023/03/20/what-ubs-rescue-of-credit-suisse-cs-means-for-markets-and-banks.html) of [Credit Suisse](https://www.cnbc.com/quotes/CSG.N-CH/) by [UBS](https://www.cnbc.com/quotes/0R3T-GB/), in the wake of the collapse of [U.S.-based Silicon Valley Bank](https://www.cnbc.com/2023/03/13/hsbc-buys-silicon-valley-bank-uk-protecting-deposits-.html), has triggered contagion concern among investors, which was deepened by further monetary policy tightening from the [U.S. [wipe out 16 billion Swiss francs ($17.4 billion) of Credit Suisse's additional tier-one (AT1) bonds,](https://www.cnbc.com/2023/03/21/credit-suisse-bondholders-prepare-lawsuit-after-at1-bond-writedown-in-ubs-deal.html) left the market unconvinced that the deal would be sufficient to contain the stresses in the sector.

Deutsche Bank AG has settled a lawsuit in which it accused two offshore funds of reneging on an agreement to sell it $1.6 billion of claims in the ...

Madoff Investment Securities LLC to Deutsche Bank for 66 cents on the dollar in 2011. Lawyers for the Kingate funds did not immediately respond to requests for comment. Register for free to Reuters and know the full story [rejected](/business/deutsche-bank-can-sue-madoff-feeder-funds-over-16-billion-claims-sale-2021-03-26/) the Kingate funds' request to dismiss Deutsche Bank's case. Incorporated in the British Virgin Islands, the Kingate funds funneled client money to Madoff for many years before his Ponzi scheme collapsed in 2008. The settlement was revealed on Thursday by lawyers for the German bank and the Kingate Global Fund and Kingate Euro Fund in a letter filed in federal court in Manhattan.

Deutsche Bank AG is settling a US lawsuit it filed against a pair of offshore feeder funds that backed out of an alleged deal to sell the German lender $1.6 ...

DEUTSCHE Bank has settled a lawsuit in which it accused two offshore funds of reneging on an agreement to sell it US$1.6 billion of claims in the bankruptcy ...

Deutsche Bank AG narrowed but didn't eliminate claims that it turned a blind eye to a high-dollar Ponzi scheme and even aided and abetted it.

But otherwise the claims survive summary judgment and can head toward trial, Judge Beth Bloom said. The evidence in the case “supports that at least two bank employees had knowledge of the Ponzi scheme,” Bloom said. Some of the companies that brought the suit and two Deutsche Bank subsidiaries are out of the litigation, the US District Court for the Southern District of Florida said Thursday.

IGTV's Jeremy Naylor explains that shares in the German lender have lost 11% today and are down heavily this week on concerns that we are now on the next ...

All shares prices are delayed by at least 20 mins. All shares prices are delayed by at least 15 mins. Prices are indicative only. Other banks involved in the sector and indeed the bank concerned, then start to feel the pain. [Credit Suisse](/sg/shares/markets-shares/credit-suisse-group-adr-CS-US) by UBS last weekend after the collapse of Silicon Valley Bank in the States has triggered contagion concern among investors, which was exacerbated by the Fed's decision this week to raise interest rates and the path of contagion is when one bank starts to feel the difficulties. This is the third consecutive day we've seen a loss of more than a fifth of the value so far this month.

Europe's banking stocks tumbled Friday as investors acted on their lingering worries that the recent crises at some banks could spill over into the wider ...

The bond would have gradually lost its eligibility as a form of regulatory capital according to rules brought in after the 2008 financial crisis, the source said. Some analysts said investors had been rattled by Deutsche Bank’s announcement Friday that it would pay back one of its bonds five years before its maturity date. The cost of insuring against a possible default by Deutsche Bank on its debt has soared in recent days. [(DB)](https://money.cnn.com/quote/quote.html?symb=DB&source=story_quote_link), plunged as much as 14.5% before paring its losses to close 8.5% lower. Deutsche’s five-year credit default swaps (CDS) skyrocketed to 203 basis points Thursday, according to data from S&P Market Intelligence. The index is down 18% from its high in late February. [emergency takeover](https://edition.cnn.com/2023/03/20/investing/credit-suisse-at1-bond-write-down-explainer/index.html) brokered by the Swiss government. [hike interest rates](https://edition.cnn.com/2023/03/16/economy/european-central-bank-interest-rates/index.html) by half a percentage point, judging that inflation posed a bigger threat to the economy than recent turmoil in the banking sector. Shares in UBS [(UBS)](https://money.cnn.com/quote/quote.html?symb=UBS&source=story_quote_link) and Credit Suisse [(CS)](https://money.cnn.com/quote/quote.html?symb=CS&source=story_quote_link) were 3.6% and 5.2% down respectively. But — after two bank collapses in the United States and an emergency takeover of Credit Suisse this month — some investors may have interpreted the announcement as a sign that Deutsche Bank is nervous about the state of the banking sector and trying to overcompensate, Jonas Goltermann, deputy chief markets economist at Capital Economics, told CNN. [surprise spike in inflation](https://edition.cnn.com/2023/03/23/economy/uk-interest-rates-hike/index.html) last month. [crises at some banks ](https://edition.cnn.com/2023/03/15/economy/european-bank-rules-svb/index.html)could spill over into the wider sector.

Shares of Germany's largest bank Deutsche Bank slid on Friday as investors fretted that regulators and central banks have yet to contain the worst shock to ...

The index of top European bank shares [(.SX7P)](https://www.reuters.com/quote/.SX7P) ended down 3.8%. A spokesperson for UniCredit declined to comment. [(JPM.N)](https://www.reuters.com/companies/JPM.N) ended down 1.5%, while Bank of America [(BAC.N)](https://www.reuters.com/companies/BAC.N) climbed 0.6%. "It takes time. The meeting was chaired by U.S. regulators - agreed at a Friday meeting that the U.S. Treasury said the Financial Stability Oversight Council - which comprises the heads of various U.S. In the latest effort to reassure investors, the U.S. [(CRDI.MI)](https://www.reuters.com/companies/CRDI.MI) is leaning towards [repaying a perpetual bond](/markets/rates-bonds/unicredit-leaning-towards-repaying-at1-bond-june-source-2023-03-24/) at the earliest opportunity in June, a source close to the matter told Reuters. [(.SPLRCBNKS)](https://www.reuters.com/quote/.SPLRCBNKS) recovered 1.75%, with PacWest Bancorp rallying more than 3% and First Republic Bank [(FRC.N)](https://www.reuters.com/companies/FRC.N) falling 1.4%. [(DBKGn.DE)](https://www.reuters.com/companies/DBKGn.DE) was thrust into the investor spotlight and [slumped](/markets/deutsche-bank-shares-whipsaw-after-cds-blow-out-2023-03-24/) 8.5% alongside a sharp jump in the cost of [insuring](/markets/deutsche-bank-shares-whipsaw-after-cds-blow-out-2023-03-24/) its bonds against the risk of default. [(SBNY.O)](https://www.reuters.com/companies/SBNY.O) earlier this month.

Deutsche Bank AG shares fell and the cost of insuring its debt against default rose in sudden moves that some attributed to hedge funds seeking to profit ...

The German bank’s shares fell as much as 15% before paring losses to end the day down 8.5% in Frankfurt. Deutsche Bank AG shares fell and the cost of insuring its debt against default rose in sudden moves that some attributed to hedge funds seeking to profit from the broader turmoil roiling the financial industry. GE Goes From Bottom of Barrel to High-Flier

Tumbling stocks dragged down other major banks across Europe, fuelling fears about a banking sector crisis.

Deutsche Bank said on Friday that it would redeem $1.5bn in tier 2 bonds early. Efforts to strengthen banking regulation in recent years “puts us all in a position to say that European banking supervision and the financial system are robust and stable and that we have resilient capitalisation of European banks”, Scholz said. Last year, it booked its highest annual profit since 2007. The bank was hit by a string of problems linked to its attempts before the 2008 global financial crisis to compete with Wall Street investment banking giants. Speaking in Brussels after a summit of EU leaders, he also said the European banking system was “stable” with strict rules and regulations. Shares in Deutsche Bank have fallen sharply, dragging down other major European banks and reigniting fears about a widening banking sector crisis.

German Chancellor Olaf Scholz said there's no reason for concern about Deutsche Bank AG after worries about the broader European banking sector sent the ...

Deutsche shares fell as much as 15% in trading on Friday, prompting concerns it might be the next domino to fall after failed lender Credit Suisse.

[apparent contradiction](https://www.axios.com/2023/03/22/yellen-powell-fdic-large-bank-deposit) with comments from Federal Reserve Chair Jerome Powell, who said hours earlier that there is an implicit blanket guarantee was in place. Consequently analysts covering the bank urged investors not to assume Deutsche faces the same [problems that dogged Credit Suisse](https://fortune.com/2023/03/24/europe-banks-will-pay-for-wiping-out-credit-suisse-bondholders-tidjane-thiam/). [eerily similar](https://fortune.com/2023/03/21/svb-crisis-communication-banks-greg-becker-lessons/) to Greg Becker, CEO of [Silicon Valley Bank](https://fortune.com/company/svb-financial-group/), who told clients “ [not to panic](https://fortune.com/2023/03/09/silicon-valley-bank-panic-venture-investors-founders/)” amid a run on deposits. Cross-town rival Commerzbank, which celebrated a return to the DAX blue chip index last month after a five year period of expulsion, finished 5.5% lower. This may have been a reference to the confusion sown earlier this week by U.S. “They are the result of oversight and governance measures taken over the past years to regulate solvency and liquidity.” A global systemically important bank (G-SIB) like Deutsche then has additional requirements to meet. In addition, lenders have regulations governing stable and diversified funding to ensure they do not refinance themselves predominantly via the wholesale market. “As we witnessed with CS, the risk is if there is a knock-on impact from various media headlines on depositor psychologically, regardless of whether the initial reasoning behind this was correct or not.” Unfortunately for Becker, they did panic and the following day SVB was [seized by federal authorities](https://fortune.com/2023/03/10/svb-collapse-fdic-takeover-martin-gruenberg-620-billion-hole-banks-balance-sheet/), marking the second-largest banking failure in U.S. For one Germany is considered overbanked, with a multitude of thrifts and cooperatives competing for customers, thereby reducing structural profitability in its domestic market. His bank’s collapse on March 10 lit the fuse for the sector’s worst crisis since the 2008 demise of Lehman Brothers.

Deutsche Bank is a 'very profitable bank,' Olaf Scholz says - Anadolu Agency.

[Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Swiss lender Credit Suisse’s troubles and the bankruptcy of the US-based Silicon Valley Bank and Signature Bank raised concerns about the health of the global banking sector. “The European banking supervision and the finance system are robust and stable, European banks have robust capital resources, thanks to the work of the past years, and the efforts of the banks themselves,” Scholz stressed.

Germany's chancellor rejects Credit Suisse comparison as EU leaders seek to reassure markets after share slide.

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German lender's shares were hit by general loss of confidence, not by any specific failings.

None of which, though, explains why – other than its recently chequered record – Deutsche found itself in the spotlight. [At its worst point, Deutsche was down 14%](https://www.theguardian.com/business/2023/mar/24/european-bank-shares-fall-as-market-jitters-return-deutsche-bank-ubs-ftse-100). The ECB, the US Federal Reserve and the Bank of England raised interest rates this week. At Deutsche, the only minor news from Frankfurt was a decision to buy back a small slice of its debt, which regulators would not have permitted if they were worried about liquidity. Nor, as far as we know, is the European Central Bank in a flap about Deutsche in the way that Swiss authorities were when they advanced a 50bn Swiss franc borrowing facility to Credit Suisse in the days before There is no evidence of a flight of depositors at Deutsche, the factor that really sealed Credit Suisse’s fate.

A STEEP sell-off in banking stocks hit European indexes on Friday (Mar 24) as worries about the stability of the financial sector intensified, with Deutsche ...