President Donald Trump has ordered a sweeping review of the US laws brought in to regulate banks after the 2008 financial crisis.
Rome (Italy) - Shares in Italy’s Monte dei Paschi suffered further steep falls on Monday as it makes a last-ditch attempt to raise five billion euros by year-end to avoid a state bailout.
Loan writedowns and bad debts, plus a lasting hangover from the financial crisis mean Italy’s banks are on the edge of a precipice. Provisions to cover liabilities on “unlikely to pay” and past due debt are less than half of those set aside for bad debt, limiting the freedom of the banks to get fresh credit on the markets.
Friday saw torrid trading for Deutsche Bank’s shares; they fell close to nine percent early on Friday and ended the day up 6.4 percent.
They were circling the wagons at Deutsche Bank on Friday as it shares continued their gyrations – down nearly nine percent at one stage before turning positive in the afternoon.
The German government has denied it has been working on a rescue plan for Deutsche Bank in case it cannot raise the money needed to pay a massive fine from the US Justice Department.
Grilled by German lawmakers, European Central Bank President Mario Draghi has been defending its ultra low interest rates and other stimulus measures, which he said were a necessity.
A small co-operative bank in the picturesque town of Gmund in Bavaria is turning financial norms upside down. It has decided to charge clients a fee for depositing money with them.