Deutsche Bank

Deutsche Denial Tsunami Begins: Draghi "Not ECB Fault", IMF "Solid Base"

It is becoming very clear that the Deutsche Bank debacle is getting very serious. How do we know? Simple - everyone is denying everything. Overnight DB CEO Cryan denied any need to raise capital or need a bailout; this morning ECB's Draghi denied low rates were responsible, and denied The IMF's statement the bank is systemically important; and now IMF's Lagarde is denying any need for government intervention.

"Russian Roulette" - Credit Suisse CEO Admits "EU Banks Not Really Investable"

European banks are in a “very fragile situation” and are “not really investable as a sector" according to Credit Suisse chief executive Tidjane Thiam. Speaking at a conference in London this morning, The FT reports, the CEO of Europe's 'other Deutsche Bank' said "only a fool would try to make a five-year prediction in a world that is so random," wishing John Cryan (DB CEO) well, "I hope that they come out of their current predicament."

Turkey Contemplates Buying Deutsche Bank

Yigit Bulut, chief adviser to Turkish President Recep Erdogan, Turkey should consider "using a new wealth fund or a group of state-owned banks to buy" the embattled Deutsche Bank. Bulut made the proposal on Tuesday via his Twitter account, saying Germany’s largest lender should be made into a Turkish bank.

Frontrunning: September 28

  • Stocks Rally as Deutsche Bank Slump Ends, Oil Gains Before Talks (BBG)
  • German government prepare Deutsche Bank rescue plan (Reuters)
  • German financial watchdog not working on emergency plan for Deutsche Bank (Reuters)
  • Saudi Arabia Signals Openness to Future Oil Compromise With Iran (BBG)
  • Will Congressional Face-off Over Flint Lead to a Government Shutdown? (NBC)
  • Shimon Peres, Israel's last founding father, dies at 93 (Reuters)

Futures Fail To Rebound As Deutsche Bank Tries To Comfort Markets That It Is "Fine"

After yesterday's "Hillary rally" in the US, the overnight's session has seen more risk-on sentiment as European stocks advanced, ignoring weakness in Asia as investors followed every twist of shares of beleaguered lender Deutsche Bank, whose CEO last night assured Bill readers that the bank is not seeking a bailout, which however was contradicted by a Zeit article this morning reporting that Germany may seek as much as s 25% "bailout" stake in a worst case scenario.

Germany Working On Deutsche Bank Rescue Plan As Lender Sells Unit To Shore Up Liquidity

It's all about Deutsche Bank this morning again, where after last night's vigorous denial by CEO John Cryan, who told Bild that the troubled German lender is not seeking a government bailout and that it's balance sheet is solid, earlier this morning Germany's Zeit reported that the German government is working on a contingency plan for Deutsche Bank. The German outlet writes that possible scenarios apply in case Deutsche Bank AG needed capital injection to cover litigation costs and include the option of German government taking a stake.