4 Financial Stock Stories To Close the Trading Week
Deutsche Bank (NYSE:DB): Current price $39.39
Both the Bundesbank and financial watchdog Bafin are conducting an in-depth inquiry of Deutsche Bank’s accounts in regards to claims that it failed to correctly value a derivatives portfolio, said knowledgeable sources. On Thursday, two sources said that the central bank — Bundesbank — was reacting to allegations that Deutsche Bank had incorrectly valued credit derivatives from 2007 through 2010, allowing it to conceal up to $12 billion in losses. However, one source told Reuters that ”this is a routine investigation. There is no prejudgement,” saying that the regulators were beginning with the assumption that Deutsche Bank’s accounts were in order.
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