Deutsche Bank

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.

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.

La peur ressurgit sur les marchés financiers où le secteur bancaire continue à perdre des plumes vendredi malgré les déclarations rassurantes de ...

Imitant les actions, le marché obligataire a retrouvé ses esprits en cours de séance, et après avoir plongé, les taux des bons du Trésor ont rebondi. Louis (Missouri) de la banque centrale américaine, James Bullard, a estimé à 80 % « la probabilité que les tensions sur le système financier diminuent », lors d’une intervention, jeudi. « De nombreuses questions sont encore en suspens concernant le système bancaire », a ajouté Adam Sarhan. Mais à Francfort, le titre du plus grand établissement allemand par la taille des actifs s’est redressé en fin de séance, ce qui a quelque peu apaisé les nerfs des opérateurs. « L’incertitude qui se propage sur les marchés » a conduit « le secteur bancaire à abandonner tous ses gains depuis le début de l’année en l’espace de trois semaines », indique Michael Hewson, analyste de CMC Markets. De son côté, la Bourse de New York a terminé en petite hausse vendredi, plutôt satisfaite de finir la semaine sans nouveau développement majeur sur le front des banques, même si le marché reste prudent et attentiste.

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.

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

CEO Christian Sewing, who took over in 2018, even explored a deal with German rival Commerzbank in 2019 at the urging of the government, before deciding against it. “We don’t see this and the associated share price decline as a reflection of the fundamentals.” Deutsche Bank’s announcement Friday to repurchase a subordinated bond came on the very first day that the lender had the right to announce it. That indicates a spike in demand for purchasing the protection, which has been driven particularly by hedge funds, according to a person with knowledge of the matter. “Deutsche Bank’s recent CDS widening is in our view related to one way trades of de-risking across all market participants,” wrote analysts at JPMorgan Chase & Co. The losses continued this week even after Treasury Secretary Janet Yellen said US regulators would be prepared for further steps to protect deposits if needed.

Paris — Les banques replongent en Bourse vendredi après une accalmie, l'incendie venant cette fois de l'allemande Deutsche Bank (DBK), qui voit grimper la ...

Le cours des CDS reflète le degré de confiance du marché par rapport à Deutsche Bank. «Pour être clair, Deutsche Bank n’est PAS le prochain Credit Suisse», conclut-il. L’acheteur de CDS verse généralement chaque année une prime («spread») à l’émetteur de ce CDS.

(Bloomberg) -- German Chancellor Olaf Scholz said there's no reason for concern about Deutsche Bank AG after worries about the broader European banking ...

in Frankfurt, after earlier declining as much as 15%. Deutsche Bank fell 6.7% as of 4:59 p.m. “Deutsche Bank has fundamentally modernized and reorganized its business model and is a very profitable bank,” Scholz said Friday at a news conference in Brussels when asked about the lender’s situation.

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

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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.

Après SVB et Credit Suisse, c'est la première banque allemande, Deutsche Bank, qui est attaquée sur les marchés. Son titre plongeait de plus de 13 % à la ...

[Depuis le début d’année, des dizaines de milliers d’Israéliens manifestent dans les rues, en opposition à la réforme judiciaire que le gouvernement tente de mettre en place. A Paris, le CAC 40 a perdu jusqu'à 2,60 % dans la matinée, avant de clôturer à 7.015 points, en recul de 1,74 % sur la journée. La chute brutale du cours de la première banque allemande réverbérait sur l'ensemble des places européennes.

La première banque allemande a tremblée sur fond de montée de la défiance dans le secteur. Selon le marché, Deutsche Bank à plus d'une à plus d'une chance ...

Le compartiment bancaire en Europe (-3,78%) a accusé la plus forte baisse sectorielle et un troisième repli hebdomadaire consécutif (-1,58%) avec notamment Deutsche Bank qui a dévissé de 8,53%. Le chancelier allemand [Olaf Scholz](https://www.challenges.fr/tag_personnalite/olaf-scholz_34965/) et le président [ Emmanuel Macron,](https://www.challenges.fr/tag_personnalite/emmanuel-macron_2144/) réunis à Bruxelles à l'occasion d'un sommet des dirigeants de l'Union européenne, ont abondé dans le même sens. Le remontée des taux d'intérêts, piloté par les banques centrales au nom de la lutte contre l'inflation, est en train déstabiliser le secteur. Le coût de l’assurance en cas de défaut de paiement de la dette a augmenté pour la plupart des banques européennes, mais moins que pour Deutsche Bank. [Christine Lagarde](https://www.challenges.fr/tag_personnalite/christine-lagarde_4194/), a assuré dans la journée que les banques dans la zone euro étaient robustes et disposaient de positions solides en termes de capital et de liquidités. L'action a clôturé en baisse de 8,53% à 8,54 euros, après avoir plongé jusqu'à 14% dans la journée, enchaînant une troisième séance de baisse d'affilée à la Bourse de Francfort.

ANALYSE - La banque allemande a plongé en Bourse vendredi, entraînant les autres valeurs bancaires en Europe.

[États-Unis](https://www.lefigaro.fr/conjoncture/faillite-de-svb-les-autorites-americaines-pensent-que-la-crise-bancaire-peut-etre-contenue-20230320) et la [Suisse](https://www.lefigaro.fr/societes/licenciements-massifs-en-vue-apres-le-rachat-de-credit-suisse-par-ubs-20230323), c’est désormais au tour de la zone euro d’inquiéter les marchés financiers. Une performance qu’elle n’avait plus réalisée depuis quinze ans et qui lui permet de ne plus être considérée comme un maillon faible du système bancaire. Dans un contexte d’extrême nervosité entourant les banques, [Deutsche Bank](https://www.lefigaro.fr/conjoncture/deutsche-bank-perd-plus-de-10-en-bourse-20230324) a tangué en Bourse vendredi (-8,5 % à la clôture, après -15 % en séance), entraînant dans sa chute ses concurrentes du Vieux Continent.

Shares in Deutsche Bank, Germany's largest lender, have fallen sharply and dragged down major European banks as fears about weaknesses in the global ...

International negotiators agreed to those rules following the 2008 global financial crisis triggered by the failure of U.S. failures focused less-friendly attention on banks and a key Credit Suisse investor refused to put up more money. That followed a steep rise in the cost to insure bondholders against the bank defaulting on its debts, known as credit default swaps. banks and jitters about Credit Suisse's long-running troubles led its shares to tank and customers to pull out their money. 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 capitalization of European banks,” Scholz said. authorities for misleading buyers of complex mortgage-backed securities that later went sour. U.S. Rising costs on insuring debt were also a prelude to Swiss lender Credit Suisse's government-backed rescue by rival UBS. Its holdings of derivatives — often complex investments whose price is tied to other assets — are “well known” and “just not very scary, in our view,” Graham and Li said. However, the selloff of European bank shares “continues to appear more related to lack of confidence than fundamentals.” The selloff “might also be more emotionally driven, so to speak, rather than based on facts, but this is something that had to be expected" based on its history and performance after the global financial crisis, he said. “Deutsche Bank has thoroughly modernized and reorganized its business and is a very profitable bank,” Scholz said after a European Union summit in Brussels.

Après SVB et Crédit Suisse, la première banque allemande, Deutsche Bank décroche en bourse, entraînant dans son sillage l'ensemble des indices boursiers ...

Cela "augmente la pression" sur les banques, selon Jochen Stanzl, analyste de CMC Markets. "Comme je l'ai dit à plusieurs reprises au cours des deux dernières semaines, la crise ne s'arrêtera que lorsque les investisseurs cesseront de se demander qui sera le prochain", assène l'expert. [la faillite de la banque américaine SVB](https://www.challenges.fr/entreprise/apres-svb-et-le-credit-suisse-le-systeme-bancaire-subit-un-test-de-confiance_849521) et le rachat par UBS de Crédit Suisse.

How serious are the difficulties facing the German lender? | Finance & economics.

Yet the main reason for the sell-off is not a dreaded skeleton in Deutsche Bank’s closet. The market for Deutsche Bank’s credit-default swaps is illiquid, meaning a few trades can move prices fast. Deutsche Bank’s net profits of €5.7bn ($6.1bn) in 2022 were double those of the year before. And at1s count for a higher share of Deutsche Bank’s risk-weighted assets than at other banks. Deutsche Bank may have a large book of derivatives, which are dangerous instruments in volatile markets, but these are traded openly and often enough to make it unlikely they are severely mispriced. By contrast, after a prolonged and painful restructuring, Deutsche Bank is profitable.

Comme chaque jour, le JT du 23h fait un tour de l'actualité diffusée par les chaînes européennes de télévision. C'est l'Eurozapping du vendredi 24 mars.

Malgré les propos rassurants des dirigeants réunis à Bruxelles : "La Deutsche Bank a réorganisé et modernisé son fonctionnement. La Deutsche Bank donne des sueurs froides. Le président français est sur la même longueur d'onde, les deux dirigeants envisagent des coopérations bilatérales