Saturday, August 19, 2017

Tag: Deutsche Bank

Dutch Regulator Accidentally Posts Soros’s Short Positions

Some of hedge fund billionaire George Soros's short positions dating back to 2012 were published on the Dutch financial market regulator’s website this week due to “human error,” according to the regulator AFM. The short positions, bets on a stock declining, were “between 0.2 percent and 0.5 percent,” of shares...

Deutsche Bank Mismarked 37 Deals Like Paschi’s, Audit Says

Deutsche Bank AG, indicted for colluding with Banca Monte dei Paschi di Siena SpA to conceal the Italian lender’s losses, mismarked the transaction and dozens of others on its own books, according to an audit commissioned by Germany’s regulator. Executives at Deutsche Bank arranged 103 similar deals with a total...

Understanding Deutsche Bank’s $47 Trillion Derivatives Book

Size of figure can be misleading, but some of those assets are hard to value, stoking concern among investors. Shares in Deutsche Bank AG have fallen by more than 48% this year amid concerns that the lender faces a hefty fine from the Justice Department and as its core lending...

Some Deutsche Bank Clients Unable To Access Cash Due To IT Outage

While it now seems that Friday's rumor of a substantially reduced Deutsche Bank settlement with the DOJ, which sent the stock price soaring from all time lows, was false following a FAZ report that CEO John Cryan has not yet begun the renegotiation process, and in the "next few...

According To JPMorgan, This Is The Biggest Risk Facing Deutsche Bank At This Point

Deutsche Bank uncertainties were added to concerns about BoJ tapering spooking global equity markets over the past week. Widespread press reports about Deutsche Bank clients and counterparties reducing their financial exposure to the bank, including their derivatives exposures, alarmed market participants. At the same time, JPMorgan warns, the amount borrowed...

Deutsche Bank Charged Over Paschi Accounts as Legal Hits Mount

Deutsche Bank AG was dealt a fresh blow on Saturday when an Italian court charged the company, an employee and five former executives for colluding with Banca Monte dei Paschi di Siena SpA to falsify the Italian lender’s accounts in 2008. Michele Faissola, who oversaw global rates at the time,...

Why is Deutsche Bank now the biggest worry in the financial world?

What’s going on with the banking industry? Since the credit crunch in 2008, banks have been struggling to adapt to their new environment. Low interest rates coupled with meagre yields in the financial markets mean banks can generate fewer profits from the deposits they collect, the loans they dole out,...

The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash

Deutsche Bank concerns just went to '11' as Bloomberg reports a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn some excess cash and positions held at the lender, a sign of counterparties’ mounting concerns about doing business with Europe’s largest investment bank. While the vast...

The Deutsche Bank crisis could take Angela Merkel down – and the Euro

There are some words that make such an unlikely pairing that we find it hard to put them together. Italy and efficiency, for example. Or Bake Off and Channel 4. And 'Germany' and 'banking crisis' is another one. Our image of German banks, and the German economy, as completely rock...

Deutsche Bank’s Monumental Mess – Merkel Says No State Aid, Depositor Bail-In Coming Up?

The €72 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. It’s market cap is $17.43 billion. It has no earnings and pays no dividend. On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation. On...

Merkel Rules out Assistance for Deutsche Bank, Focus Reports

Chancellor Angela Merkel has ruled out any state assistance for Deutsche Bank AG in the year heading into the national election in September 2017, Focus magazine reported, citing unidentified government officials. The German leader also declined to step into the Frankfurt-based bank’s legal imbroglio with the U.S. Justice Department, which...

Deutsche Bank: The US May Now Be In A Recession

Three months ago, we presented an analysis which showed something disturbing: according to Deutsche, the "current business cycle is already the fourth longest in the post- WWII period, and the corporate debt-to-GDP ratio suggests that imbalances are building", and that worse, as a result of soaring corporate debt and...

It’s Gone – Why Foreign Demand For US Treasuries Has Disappeared

Last week's TIC data confirmed something the Fed's Treasury custody account has indicated for the past several months: foreign demand for US government bonds has not only tumbled, but there has been aggressive selling. So much so, in fact, that in the past 12 months foreign central banks have sold...

Europe’s Future Will Be Decided at a Quaint Renaissance Italian Bank

Italy's third largest bank needs a bailout. What happens next could mean a revolution in Rome – or in Brussels. Italy's Banca Monte dei Paschi di Siena would seem to be the archetype of a good, locally based, non-exploitative financial institution. The oldest bank in the world, with headquarters located...

Global QE running at record $180 bln per month, and rising

Eight years after the global financial crisis and years after the U.S. and British central banks stopped their quantitative easing bond-buying programmes, the amount of QE stimulus being pumped into the world financial system has never been higher. The European Central Bank and Bank of Japan are buying around $180...

Chaos at Europe’s big banks: Italy begs for bad loans bailout and IMF warns...

Europe's banking sector is braced for chaos, with Italian giants desperate for a bailout and Germany’s biggest lender deemed a threat to the world economy. In Italy, politicians begged the European Union for permission to bail out troubled lenders sitting on more than £300bn of bad loans. Meanwhile, Portugal – long...

Italy Said to Seek Opening to Fund Lenders With $44 Billion

Italy, which failed to gain European Union approval for a bad bank just months ago, is considering ways to inject funds into some of its lenders after the U.K.’s vote to leave the trade bloc sparked a fresh selloff, according to people with knowledge of the talks. The government is...

This is Brexit: London and European stocks get crushed

Stocks in London and Europe plunged headlong into some of their biggest falls in years after the U.K. voted to leave the European Union. As the day progressed, the market panic calmed down a bit and London's main FTSE 100 index recovered, closing with a loss of 3.2%. Earlier in...

Saudi Arabia said to weigh bond sale of up to US$15b

Saudi Arabia is considering selling as much as US$15 billion of bonds this year in what would be the country's first foray into international capital markets, people with knowledge of a matter said. Encouraged by Qatar's record issue last week, Saudi Arabia is weighing a sale of at least...

Deutsche Bank: The Fed is probably screwed

The Federal Reserve wants to do two things right now: Prepare markets for future interest rates hikes Raise interest rates But the problem, according to Deutsche Bank's global economics team, is that by preparing markets for future interest rate hikes the Fed potentially hampers its ability to actually carry out those hikes in...

Chinese Bank Buys Huge London Gold Vault Expanding Influence on World Gold Market

China is serious about gold and continues to expand its influence on the world gold market. On Monday, China’s largest bank announced the purchase of one of Europe’s biggest gold vaults. Reuters reported the sale: ICBC Standard Bank is buying Barclays’ London precious metals vault, giving the Chinese bank the capacity...

U.S. Secretary of State John Kerry Meets With European Bankers in Iran-Business Push

Move meant to ensure that Tehran sees the relief that the U.S. and others pledged it in January. LONDON—U.S. Secretary of State John Kerry met with heads of some of Europe's biggest banks in London on Thursday to address their concerns about doing business in Iran, in a controversial push...

Seven big banks settle U.S. rate-rigging lawsuit for $324 million

Seven of the world's biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market. The settlement made public on Tuesday, which requires court approval, resolves antitrust claims against Bank of America...

U.S. Commodity Regulator Was Unaware About Deutsche Bank’s Gold-Rigging Until Ten Days Later

Almost two weeks ago, On April 14, we reported the striking news that Deutsche Bank has decided to "turn" against the precious metals manipulation cartel by first settling long-running silver and gold price fixing lawsuits which in addition to "valuable monetary consideration" would expose the other banks' rigging after...

Deutsche Bank Turns on the Gold-fix Cartel

Deutsche Bank, Germany’s once-respected giant bank, has admitted being a party–together with a cartel of major Wall Street and select other international banks–in deliberately manipulating the price of gold over a period of years. As well, the German bank, in a court settlement with litigants in a US court,...

Investigating Deutsche Bank’s €21 Trillion Derivative Casino In Wake Of Admission It Rigged Gold...

Deutsche Bank Admits Rigging, Will Expose Other Riggers Deutsche Bank has admitted it rigged both the Gold market and the Silver market. ZeroHedge has the details in his report Deutsche Bank Agrees To Expose Other Manipulators. Many asked me to comment. I am shocked? No. In the wake of admissions of...

When Donald Trump Needs a Loan, He Chooses Deutsche Bank

Despite some clashes, the Republican front-runner has been a regular client of the German lender. One of Donald Trump's closest allies on Wall Street is a now-struggling German bank. While many big banks have shunned him, Deutsche Bank AG has been a steadfast financial backer of the Republican presidential candidate’s business...

ECB cuts rates to new low and expands QE

The European Central Bank cut its benchmark interest rates to a new low and expanded its quantitative easing package, in a bolder-than-expected package aimed at boosting the eurozone’s flagging economy. However, Mario Draghi, ECB president, played down the prospects of further rate cuts, swiftly reversing a sharp slide in the...

JPMorgan, Goldman Said to Discuss Buying Deutsche Bank Swaps

Deutsche Bank AG, the lender exiting some trading operations, is in talks with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. to sell the last batches of about 1 trillion euros ($1.1 trillion) in complex financial instruments, people with knowledge of the matter said. Deutsche Bank, based...

Wall Street Is in Charge in Argentina (Again)

Hours after Argentina cut a deal with New York hedge funds to end a nasty, 15-year-old debt dispute, the government’s top economic officials took to the podium in Buenos Aires to bask in the moment. First to speak that February evening was the finance minister, Alfonso Prat-Gay. He’s an old...

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