S&P Cuts Rating, Questions Strategy of Deutsche Bank

Deutsche Bank lands on federal list of ‘troubled’ banks

Deutsche Bank lands on federal list of ‘troubled’ banks

More notable recent Deutsche Bank Aktiengesellschaft (NYSE:DB) news were published by: Seekingalpha.com which released: "Deutsche Bank: Truly Dreadful" on May 07, 2018, also Seekingalpha.com with their article: "Deutsche Bank on FDIC problem bank list - FT; shares down nearly 5%" published on May 31, 2018, 247Wallst.com published: "International Employee Moral Day as Deutsche Bank Cuts 7000 Jobs" on May 25, 2018.

S&P said that "relative to peers, Deutsche Bank will remain a negative outlier for some time".

Deutsche's newly appointed chief executive Christian Sewing, who unexpectedly replaced John Cryan in early April, last week sought to reassure investors that the bank is ready to do what it takes to return to profitability.

The downgrade by S&P followed reports that the Federal Reserve had labeled the bank's USA business "troubled", news that sent its shares tumbling Thursday to a record low.

In Australia, federal prosecutors are preparing criminal cartel charges against Deutsche, ANZ and Citigroup, over a A$2.3bn (£1.3bn) share issue.

The string of bad news has raised troubling questions about the long-term viability of what has traditionally been seen as the too-big-to-fail bank of Europe's top economy. DZ Bank restated a "buy" rating on shares of Deutsche Bank in a research report on Thursday, May 24th.

Sewing said Deutsche Bank's credit and market risk levels had rarely been so low, speculation it was exposed to political uncertainty in Italy was unfounded, and funding plans for this year were well advanced.

Deutsche's woes stem back largely to its bold attempt to compete with the major Wall Street investment banks in the giddy years leading up to the financial crisis. Its stake in Philip Morris (Put) (NYSE:PM) was reduced by 42,345 shares to 400 shares valued at $12.60M in 2018Q1, according to the filing.

Deutsche Bank was well positioned to react to excessive moves in debt markets, Sewing said, adding that a series of enforcement actions by the U.S. Federal Reserve were principally related to weaknesses in internal controls and infrastructure.

Deutsche Bank declined to comment to CNNMoney about "specific regulatory feedback". We're not yet where we want to be, but we're steadily getting there.

European banking regulators said that Deutsche had made "good progress" in its efforts to address regulatory concerns.

S&P had rated Deutsche's long-term credit at A- on negative credit watch.

The Journal cited sources that said a subsidiary of the bank, Deutsche Bank Trust Company Americas, was given a "problem bank" rating by the Federal Deposit Insurance Corporation, the government body that provides it with insurance.

Recommended News

  • Google will not seek follow up Artificial Intelligence for military drone contracts

    This would all be analyzed by Google AI software, allowing analysis of a city's data in "near-real time ", according to Gizmodo . Maven was Google's first military contract, and the move was immediately met with resistance by Google's employees.
    Russian Federation  gifts North Korea's Kim Jong-un a ‘box for secrets’

    Russian Federation gifts North Korea's Kim Jong-un a ‘box for secrets’

    Trump's announcement comes after top North Korean official Kim Yong Chol visited the White House Friday to deliver the letter . Kim's right hand man General Kim Yong Chol flew into NY on Wednesday to discuss preparations for the assembly.
    Islamic State 'kills four Russian soldiers in Syria'

    Islamic State 'kills four Russian soldiers in Syria'

    Five Russian soldiers were also injured and were promptly taken to the Russian military hospital, it said. The incident happened after Daesh terrorists attacked an artillery battery belonging to the Syrian army.
  • Lingard to start for England in Nigeria friendly

    Lingard to start for England in Nigeria friendly

    Ian Wright admitted England's performance against Nigeria was "worrying" despite the fact the Three Lions came away with a win. The fact he feels no real affinity for his father is reflected in his decision to his forename on the back of his shirt.
    United States  metals tariffs won't 'break' Canada's economy: Economist

    United States metals tariffs won't 'break' Canada's economy: Economist

    The interbank rate dropped 0.93% to 19.91 pesos to the dollar, while banks were selling pesos for as much as 20.35 to the dollar. Getting rid of the exemptions for Canada and Mexico , meanwhile, could complicate ongoing negotiations on NAFTA.
    Serena keeps 'Black Panther' catsuit despite questions

    Serena keeps 'Black Panther' catsuit despite questions

    The 24th seed teetered on the brink of a humbling straight-sets exit before saving a match point with a 2-6 7-5 6-3 Houdini act. Fighting spirit: Maria Sharapova celebrates after victory against Netherland's Richel Hogenkamp .
  • Fallout 76 No Mods: Will There Be Mods in Fallout 76?

    Fallout 76 No Mods: Will There Be Mods in Fallout 76?

    So what is Vault 76? Bethesda threw everyone a curve ball when they teased their next in the Fallout line, Fallout 76 . Having only just learnt about Bethesda's next big game, there's still a lot about it that remains shrouded in mystery.
    Smith missed wide-open teammate LeBron James during his late-game blunder

    Smith missed wide-open teammate LeBron James during his late-game blunder

    Game 2 goes Sunday in Oakland. "We were told they were reviewing if I had my feet outside the line", James said. "That's my view. Durant said he had seen that play reviewed before and was confident he would get the call once officials looked at the replay.
    Five best innings from previous World XI matches

    Five best innings from previous World XI matches

    Brathwaite reiterated the significance of the match, while also expressing the importance of the money to be raised. Kesrick Williams finished with 3-42 and Andre Russell claimed 2-24.
  • Khloe Kardashian's BF Tristan Thompson Gets Into a Fight During NBA Finals

    Khloe Kardashian's BF Tristan Thompson Gets Into a Fight During NBA Finals

    During an altercation, all players not participating in the game must remain in the immediate vicinity of their bench. If a suspension is enforced on Thompson, it will be announced later on Friday, a league source tells ESPN .
    'Ingraham Angle' Highlights Passages From Starbucks' Racial Bias Handbook

    'Ingraham Angle' Highlights Passages From Starbucks' Racial Bias Handbook

    Roughly 8,000 Starbucks stores are closing at about 2 p.m. on Tuesday and reopening with normal hours on Wednesday. Starbucks corporate officials said it will share the racial-bias curriculum with the licensed stores.
    Serena favourite if she survives three rounds - Courier

    Serena favourite if she survives three rounds - Courier

    Though she is back on the court, Williams said her emphasis is looking after her daughter: "No matter what, that's my priority". But her attire was the main focus at Roland Garros as Williams took to the court in an all-black Nike "catsuit".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.