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Mistaken for Bundesbank, Deutsche Bank saved on funding costs
"Mistaken"?
* * *
By Nicholas Comfort
Bloomberg News
Wednesday, September 23, 2015
Deutsche Bank AG has benefited from lower funding costs in part because investors confused it with Germany's central bank, said Stefan Krause, a member of the company's management board.
"It's not Deutsche Bank's wish, but you could almost say that because of our name, a large part of the capital market thinks we're the Bundesbank," Krause said during a panel discussion in Dusseldorf, Germany, on Wednesday. "Global refinancing markets always offered Deutsche Bank good conditions because in the heads of the people there was always an implicit state guarantee."
Krause was responding to a comment by fellow panel member Clemens Fuest, the president of the ZEW Center for European Economic Research, who said several studies show that banks considered too big to fail get cheaper financing. Krause, agreeing with Fuest, said Deutsche Bank also benefited from a case of mistaken identity. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2015-09-23/deutsche-bank-mistaken...
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