After Crashing, Deutsche Bank Is Forced To Issue Statement Defending Its Liquidity

https://i1.wp.com/www.zerohedge.com/sites/default/files/images/user5/imageroot/2016/02/03/DB%20liquidity%20update.jpg

 

The echoes of both Bear and Lehman are growing louder with every passing day.

Just hours after Deutsche Bank stock crashed by 10% to levels not seen since the financial crisis, the German behemoth with over $50 trillion in gross notional derivative found itself in the very deja vuish, not to mention unpleasant, situation of having to defend its liquidity and specifically assuring investors that it has enough cash (about €1 billion in 2016 payment capacity), to pay the €350 million in maturing Tier 1 coupons due in April, which among many other reasons have seen billions in value wiped out from both DB’s stock price and its contingent convertible bonds which are looking increasingly more like equity with every passing day. Continue reading