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Key Developments: Deutsche Bank AG (DBKGn.DE)

DBKGn.DE on Xetra

16.28EUR
27 May 2016
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Latest Key Developments (Source: Significant Developments)

Banco Popular adds 10 banks as underwriters for rights issue
Friday, 27 May 2016 11:22am EDT 

Spain's Banco Popular : Says has added 10 banks as underwriters for its 2.5 billion euros ($2.78 billion) rights issue .Popular picks up BBVA , Banco Santander , Barclays , Citigroup , Deutsche Bank , Morgan Stanley , HSBC , Credit Suisse , Sociéte Générale and Nomura <8604.T>..  Full Article

Moody's downgrades Deutsche Bank's ratings; outlook stable
Monday, 23 May 2016 05:00pm EDT 

Moody's On Deutsche Bank : Moody's downgrades Deutsche Bank's ratings; outlook stable . Outlook on ratings is stable, reflecting potential long-term benefits to creditors of five-year strategy plan through 2020 .Stable outlook reflects actions taken by management team to preserve capital and liquidity during restructuring process.  Full Article

U.S. appeals court revives antitrust claims in Libor litigation
Monday, 23 May 2016 11:04am EDT 

: U.S. appeals court revives antitrust claims in litigation accusing major banks of rigging libor -- ruling . 2nd U.S. circuit court of appeals says plaintiffs have plausibly alleged banks conspired to rig libor . 2nd circuit says horizontal price-fixing constitutes a "per se" antitrust violation . 2nd circuit says a plaintiff alleging a "per se" antitrust violation need not separately plead that competition was harmed . 2nd circuit says consumers who pay higher prices because of horizontal price-fixing suffer antitrust injury . 2nd circuit says lower court judge erred in dismissing antitrust claims on the ground they failed to allege harm to competition.  Full Article

Deutsche Asset Management to transfer primary listing of three funds to BATS exchange
Friday, 20 May 2016 05:00pm EDT 

Deutsche Asset Management : Deutsche Asset Management to transfer primary listing of three funds to BATS exchange .Will change primary listing venue for three x-trackers exchange-traded funds to bats exchange on or about June 9, 2016.  Full Article

U.S. appeals court revives FDIC lawsuit over Colonial BancGroup collapse
Thursday, 19 May 2016 09:33am EDT 

: U.S. appeals court revives fdic lawsuit against several banks tied to colonial bancgroup's 2009 collapse--court ruling . 2nd U.S. circuit court of appeals reverses lower court ruling, and concludes that fdic did not file its lawsuit too late . Banks were accused of violating U.S. securities law by selling colonial $388 million of toxic mortgage-backed securities . The fdic sued the banks in its capacity as colonial's receiver . Appeals court vote is 2-1; dissenting judge says congress never intended to let fdic bring its old "dead claims" back to life.  Full Article

Credit Suisse CFO says hopes Q2 sees a better result than Q1
Tuesday, 10 May 2016 05:10am EDT 

Credit Suisse Group Ag : CEO says very confident share price will recover as we deliver quarter by quarter -news conference . CEO says no plans for merger with Deutsche Bank -news conference . CEO says not yet willing to give up on pre-tax income target . CFO says expects final swiss too big to fail rules to be published in next few weeks . CFO says bank hopes q2 sees a better result than q1 Further company coverage: [CSGN.S] (Reporting by Zurich Newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

Deutsche Bank AG - FCA sees issues in Deutsche Bank controls over financial crimes, FT reports - Reuters News
Sunday, 1 May 2016 07:00pm EDT 

Deutsche Bank AG:Deutsche Bank has "serious" and "systemic" failings in its controls against money laundering, terrorist financing and sanctions, according to a confidential letter by the UK's financial regulatory agency, the FTreported.The watchdog agency, the Financial Conduct Authority (FCA), has now ordered a separate independent review, the FT reported the letter as saying.The FCA declined to comment. "Our overall conclusion was that Deutsche Bank UK had serious AML (anti-money laundering), terrorist financing and sanctions failings which were systemic in nature," the FT quoted the FCA letter, dated March 2, as saying."Effective senior management engagement and leadership on financial crime had been lacking for a considerable period of time.".Deutsche Bank said it is cooperating with regulators to fundamentally reform its anti-financial crime programme."We understand the importance of this issue and are committed to and engaged in fixing it", a company spokesman said in an emailed statement on Sunday. In late 2014, the FCA had put Deutsche Bank's London office under enhanced supervision owing to concern about the bank's governance and controls.Enhanced supervision procedures are normally kept private and can follow fines. Following its review, the FCA ordered a so-called skilled persons report - also called a Section 166 report - to assess remedial work Deutsche must now carry out, the FT reported.  Full Article

Deutsche Bank AG agrees to sale of Maher Terminals at Port Elizabeth
Thursday, 14 Apr 2016 04:08pm EDT 

Deutsche Bank AG:Agrees to sale of Maher Terminals at Port Elizabeth.Reached an agreement with Macquarie Infrastructure Partners III to sell Maher Terminals USA, LL.Terms of the transaction were not disclosed.Under the transaction, MIP III has agreed to acquire 100% of Maher Terminals USA, LLC.  Full Article

Deutsche Bank AG to settle U.S. silver price-fixing litigation - Reuters News
Wednesday, 13 Apr 2016 07:01pm EDT 

Deutsche Bank AG:Deutsche Bank AG has agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, a court filing on Wednesday showed - RTRS.Terms were not disclosed, but the accord will include a monetary payment by the German bank, a letter filed in Manhattan federal court by lawyers for the investors said.Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation.A Deutsche Bank spokeswoman declined to comment. Lawyers for the investors did not immediately respond to requests for comment.Investors accused Deutsche Bank, HSBC and ScotiaBank of abusing their power as three of the largest silver bullion banks to dictate the price of silver through a secret, once-a-day meeting known as the Silver Fix.According to the lawsuit, the defendants distorted prices on the roughly $30 billion of silver and silver financial instruments traded annually, violating U.S. antitrust law. UBS AG UBSG.S was also named as a defendant.Investors accused the Swiss bank of conspiring to exploit the Silver Fix, though it did not help set the benchmark.Spokesmen for HSBC and ScotiaBank declined to comment, saying they could not discuss pending litigation. A spokeswoman for UBS did not immediately respond to requests for comment.  Full Article

Deutsche Bank AG Cuts Ties to RCB, Cyprus Firm Named in Panama Leak - Bloomberg
Friday, 8 Apr 2016 05:55am EDT 

Deutsche Bank AG:Deutsche Bank AG is severing ties with the Cypriot lender partly owned by VTB Group that was identified in a media report as arranging as much as $2 billion in offshore transactions linked to associates of Russian President Vladimir Putin - Bloomberg.RCB Bank Ltd., the Cyprus-based lender 46 percent owned by Kremlin-backed VTB, said in an e-mailed statement Friday that Deutsche Bank informed it of the decision on March 21, and that the two firms are continuing their correspondent banking relationship during a transition period.An official for Deutsche Bank declined to comment.Deutsche Bank was moving to end its relationship with RCB before the Panama Papers report from the International Consortium of Investigative Journalists that mentioned RCB.but the leak led the bank to accelerate the process, according to a person with knowledge of the matter who asked not to be identified because the details are private.RCB said Friday it “categorically denies” any link between the exit and the so-called Panama Papers leak earlier this week.  Full Article

BRIEF-Moody's downgrades Deutsche Bank's ratings; outlook stable

* Outlook on ratings is stable, reflecting potential long-term benefits to creditors of five-year strategy plan through 2020