After a somewhat encouraging development through the trading day in Europe, have left Deutsche Bank shareholders received due to the hard time.
Bankaksjen is also listed in New York. Here falls the new 8,57 per cent in today’s trade, and seems to drag with itself the entire financial sector.
After a relatively flat start, the S&P 500 index now down to 1,17 per cent.
hedge fund withdraw
the Downturn seems to be driven by the messages that some of Deutsche Bank’s customers have gotten cold feet and pull out their money of the pressed the financial institution.
Documents Bloomberg has gained access to shows that approximately ten hedge funds have reduced their exposure. These have availed themselves of the so-called clearing services for the derivatives in the bank’s investment banks.
In brief has this business gone out that Deutsche against the commission has served as mellomaktør in various transactions and issues of various derivative products.
DNB is worth more than Deutsche Bank
the Deutsche Bank has according to the news over 200 customers of this type. Millennium Partners, Capula Investment Management and Rokos Capital Management shall be among those who say goodbye, informs a source.
Chairs on the customers
Deutsche Bank has commented on the information in an e-mail to Bloomberg:
“Our handelskunder is among the world’s most sophisticated investors,” writes a spokesperson for the bank, Michael Golden.
“We are confident that the large majority of them have a full understanding of our stable financial position, the current macroeconomic situation, the legal process in the united STATES and the progress we have to stake out our strategy”.
None of the above-mentioned funds have so far commented on the case.
Lose confidence
analysis supervisor Karl-Johan Molnes in the Norne believe the situation in the Deutsche Bank has similarities with what happened in the Bear Sterns, the bank that got in trouble at the start of the financial crisis.
– the Customers leave the bank and it is never good when they get a sharp fall. When they lose confidence and lose other customers – no one will be left with the repository of his in a bank that goes bankrupt, ” says Molnes.
He emphasizes, however, that he believes it will go well with Deutsche Bank.
Optimally seen, he believes that Deutsche could be found together with either of the Commerzbank on the home, or Wells Fargo globally. These, however, have their own problems for the moment.
9.600 must go in Germany’s second largest bank
– A way to get out of this is to get new capital, but an even easier way is warranty, he says.
With this aim he to the German authorities, by Angela Merkel and finance minister Wolfgang Schäuble.
This is going to resolve itself. There is no spread, because you are very good at solving this type of problems. I think Deutsche will get the help of the German government in the morning or in the course of the weekend, ” says Molnes.
Have nødplan?
The last round of problems for the Deutsche Bank started when it was known that the bank is required for the entire 14 billion dollars by the u.s. government in the wake of the financial crisis.
Since were concerns exacerbated by the fact that the German authorities were not ready with some helping hand.
Messages in the wake of the latter, however, indicates that a “nødplan” may be in the works. Yesterday wrote Die Zeit that the German government should be prepared to take 25 per cent of the storbanken in a “worst case scenario”.
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