The Deutsche Links Motherload

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I’m KooKoo For CoCo Bonds!

In the near term, much depends on the fate of Deutsche bank’s talks with the U.S. Justice Department over their $14 billion mortgage fine. Anything over $6.72 billion will cause real problems in regard to Deutsche’s ability to make coupon payments on the bank’s contingent convertible, or CoCo, bonds. But, even if the fine is watered down, the penalty will still increase Deutsche Bank’s need to tap investors for more cash.

CoCo bonds are hybrid instruments that convert to equity when a bank’s capital level falls below a certain threshold. By design, a missed CoCo coupon payment isn’t considered a default.
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Deutsche Bank shareholders in for more pain
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Deutsche Bank bailout would be political suicide for Merkel, analysts warn
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Deutsche Bank Shares Fall Below €10 First Time Ever; Commerzbank Down 6% (CNBC) 
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Gundlach: The Market Will Keep Pushing Deutsche Lower Till It’s Bailed Out (ZH)
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Fines, Withdrawals, Job Cuts. It Was an Ugly Day for Global Banks (BBG)
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U.S. Stocks Retreat as Deutsche Bank Woes Hit Financial Shares (BBG)
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Germany Under Pressure To Show It’s Ready To Rescue Deutsche Bank (CNBC)
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Deutsche Bank Exposes Europe’s Capital Shortfall (BBG)
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ING, Largest Dutch Lender, To Announce Thousands Of Job Cuts (BBG)
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Commerzbank To Axe Nearly 10,000 Jobs (R.)  
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This Is How Much Liquidity Deutsche Bank Has At This Moment, And What Happens Next
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Deutsche Bank CEO Writes Memo To Employees, Blames “Speculators”, Confirms Liquidity Flight
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Germany Says No Bailouts for Deutsche Bank or Any Other Struggling Lenders
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Barclays, Deutsche Bank and Credit Suisse face billions in fines before the US election
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The Deutsche domino

 

 

 

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