October 8, 2016 / 6:37 PM / in 9 months

Germany's Schaeuble says too much talk on Deutsche Bank

2 Min Read

A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt, Germany September 30, 2016.Kai Pfaffenbach/File Photo

WASHINGTON (Reuters) - German Finance Minister Wolfgang Schaeuble said on Saturday that there has been too much talk about the fortunes of Deutsche Bank (DBKGn.DE) after the U.S. government said it would levy a $14 billion (11 billion pounds) fine on the bank.

The penalty, lodged against Germany's largest lender by the U.S. Justice Department to settle charges it missold mortgage-backed securities, has raised questions about the bank's health.

Deutsche Bank has been struggling to overhaul its business model that is built around trading activities that have become much less lucrative under new regulation enacted since the 2008-2009 financial crisis.

Schaeuble has refused to comment on Deutsche Bank but other European officials attending meetings of the International Monetary Fund and World Bank in Washington this week have said the bank is solvent, while acknowledging broader problems in Europe's banking sector.

"There is far too much talk about Deutsche Bank," Schaeuble told reporters.

He also said that global growth was not so bad at all, and noted that demands for more fiscal stimulus by countries did not stand at the centre of discussions at the meetings this week.

Reporting by Gernot Heller; Editing by Bernard Orr

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below