DOJ Asks for $14 Billion From Deutsche Bank in Preliminary Talks; We Expect Lower Final Figure
The U.S. Department of Justice has proposed that Deutsche Bank pay $14 billion to settle claims of mis-selling mortgage securities. We consider this an extravagant request and certainly an opening negotiating tactic. Deutsche Bank said it has no intent of settling at anywhere close to that figure. For now, we plan to maintain our $18/EUR 16 fair value estimate and no-moat rating, which includes a EUR 5.2 billion capital raise. The bank currently has EUR 5.5 billion in reserves, and we model anot...Deutsche Bank is a holding company acting as an international financial service provider. Co. offers a wide variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Co. has operations or dealings with existing or potential customers in most countries in the world. Co. is organized into the following six corporate divisions: Global Markets (GM); Corporate & Investment Banking (CIB); Private, Wealth & Commercial Clients (PW&CC); Deutsche Asset Management (Deutsche AM); Postbank (PB); and Non-core Operations Unit (NCOU).
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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