|Bid||7.49 x 555100|
|Ask||7.49 x 230000|
|Day's range||7.39 - 7.57|
|52-week range||5.78 - 10.63|
|Beta (3Y monthly)||1.53|
|PE ratio (TTM)||N/A|
|Earnings date||30 Oct 2019|
|Forward dividend & yield||0.11 (1.48%)|
|1y target est||N/A|
, in a move that will lower costs at the German bank and give global heft to a system created to speed up cross-border payments. The JPMorgan Chase-led Interbank Information Network (IIN) will this week announce Deutsche as a new recruit to a network of 320 banks which have agreed to swap information on global payments over blockchain, the mutually distributed ledger technology behind cryptocurrencies. Most of IIN’s existing members are banks who use JPMorgan as a correspondent bank to process dollar payments on behalf of their clients.
Deutsche Bank AG will pay $15 million to resolve claims it conspired to rig prices of bonds issued by Fannie Mae and Freddie Mac , becoming the first of 16 financial services companies to settle litigation by investors. The German bank did not admit wrongdoing in agreeing to the settlement, which also requires that it bolster its antitrust compliance procedures and cooperate with the investors. The settlement was disclosed in filings late Wednesday in Manhattan federal court.
Deutsche Bank has become the first lender to settle civil claims of allegedly rigging US mortgage bond markets, resolving one of the lender’s many legal headaches for $15m. Deutsche was one of 16 financial institutions sued for breaking antitrust laws by allegedly using their dominant position to inflate prices and overcharge investors for mortgage bonds issued by the government-sponsored Fannie Mae and Freddie Mac. The Pennsylvania Treasurer, which brought the case against Deutsche along with other civil plaintiffs, said the bank’s speedy settlement “reflects Deutsche Bank’s early co-operation in this suit”.
The European Central Bank has announced its biggest package of rate cuts and economic stimulus in three years as President Mario Draghi warned governments that they needed to act quickly to revive flagging eurozone growth. The ECB cut interest rates further into negative territory and revived its contentious €2.6tn programme of buying bonds for an unlimited period, in the latest sign of concern over the health of the global economy. It also eased lending terms for eurozone banks and offered them tiered interest rates in a bid to ease the pressure on their lending margins.
Deutsche Bank's regulators are examining whether a new supervisory board member, former UBS manager Juerg Zeltner, is suitable for the job, according to two people familiar with the matter. Regulators are looking at whether Zeltner's position on Deutsche's board would be a conflict of interest because he is also the chief executive officer of KBL European Private Bankers (KBL epb), a business that overlaps with Deutsche's.
LONDON/NEW YORK (Reuters) - U.S. congressional investigators have identified possible failures in Deutsche Bank AG's money laundering controls in its dealings with Russian oligarchs, after the lender handed over a trove of transaction records, emails and other documents, three people familiar with the matter said. The congressional inquiry found instances where Deutsche Bank staff in the United States and elsewhere flagged concerns about new Russian clients and transactions involving existing ones, but were ignored by managers, two of the people said. Lawmakers are also examining whether Deutsche Bank facilitated the funneling of illegal funds into the United States as a correspondent bank, where it processes transactions for others, one of the sources said.
The chief executive of the body set up by the Bank of England to improve standards in fixed income trading resigned after an internal investigation recommended disciplinary proceedings against him. Gerry Harvey, a former head of compliance at interdealer broker ICAP, was appointed the first head of the FICC Markets Standards Board after it was set up in 2015 as part of measures intended to clean up trading in fixed income, currencies and commodities after the Libor scandal. The FMSB made no public announcement at the time and told its members that he was leaving to pursue other interests.
Apple led another bumper day for bond sales on Wednesday, returning to the market for the first time since 2017 and taking advantage of a dramatic decline in corporate borrowing costs. Simon Property Group sold $3.5bn, health insurer Anthem* issued nearly $2.5bn and Coca-Cola offered $2bn, according to Bloomberg data and people familiar with the deals.
The CEOs of Germany's two largest listed banks on Wednesday warned that a further cut in interest rates by the European Central Bank would deal a blow to savers and the financial system while having only minimal effect on the economy. The stern message comes a week before an ECB policy meeting at which decision makers are expected to lean towards a stimulus package that includes a rate cut. Deutsche Bank CEO Christian Sewing told a banking conference that his company's customers had said they would not invest more if credit were 0.10 percentage points cheaper.
A whistleblower has accused top executives at the body set up by the Bank of England to guide financial market behaviour of perverting the course of justice, alleging that they put pressure on him not to testify as an expert witness in a case against a member bank. The hearing against the FMSB -- the fixed income, currencies and commodities markets standard board -- could be a blow to the Bank of England and the Financial Conduct Authority, which recommended the establishment of the FMSB in 2015 to improve ethical standards in the sector after the Libor and foreign exchange rigging scandals rocked the City of London from 2011 onwards. Craig Beevers, former technical adviser at the FMSB, used an employment tribunal hearing on Tuesday, on grounds of unfair dismissal, to accuse senior executives of serious misconduct.
Deutsche Bank and BNP Paribas have become the first foreign banks to gain Beijing’s approval to lead underwriting for all kinds of onshore debt in China — the latest high-profile reform this year aimed at opening the financial sector of the world’s second-largest economy. China’s National Association of Financial Market Institutional Investors, which regulates the interbank bond market, said in an announcement dated Monday that the two banks had been granted type-A licences, allowing them to underwrite all varieties of renminbi-denominated debt for both local and foreign companies. The licences grant greater access to China’s Rmb93tn ($12.9tn) domestic bond market, the latest move by Beijing to counteract a trade war with the US and concerns locally over hidden risks in the Chinese banking system.
An Australian magistrate shifted hearings to a larger room as a long-awaited criminal cartel case against Australia and New Zealand Banking Group and the local units of Citigroup and Deutsche Bank inched ahead on Tuesday. Lawyers for each of the banks and individual executives packed out the Sydney courtroom for a short administrative hearing ahead of legal argument scheduled for later this month, giving a sense of the size and complexity of one of the country's biggest white collar crime prosecutions. Authorities last year charged the financial giants and six bankers over the 2015 sale of A$3 billion ($2 billion) ANZ shares and subsequent trading by underwriters, saying they colluded to keep from ordinary shareholders the fact that they had not found buyers for all the stock.
Deutsche Bank's chief executive Christian Sewing will spend 15% of his monthly net salary buying the German lender's shares starting in September, a regulatory filing showed on Monday. The filing makes official a pledge Sewing made in July, when he announced a major restructuring of the bank. Sewing said at the time he would invest a "substantial amount" of his fixed salary in the bank.
French lender BNP Paribas plans to bid for Deutsche Bank's equity derivatives book and is hopeful it can beat off rival bidders to secure a deal in the next few weeks, according to sources familiar with the matter. Deutsche Bank is selling the portfolio as part of a restructuring that will see it exit equities trading and other unwanted businesses and shed 18,000 staff globally. Chief Executive Officer Christian Sewing is hoping the plan will turn around the bank, whose shares hit a record low this month.
Financial records related to U.S. President Donald Trump and three of his children that congressional Democrats have requested from Deutsche Bank AG include tax returns, the bank disclosed in a court filing on Tuesday. Two committees in the U.S. House of Representatives subpoenaed Deutsche Bank in April to provide financial records belonging to the president and his children Donald Trump Jr., Ivanka Trump and Eric Trump.