d-1-2Deutsche Bank Sets Aside $1.3 Billion, Mostly for Subprime Probe


This is a bloomberg.com article.


Deutsche Bank AG set aside an additional 1.2 billion euros ($1.3 billion) in the fourth quarter as it prepares to resolve a series of long-running regulatory investigations, including whether it improperly sold mortgage-backed securities to investors.

“We’re working very hard on a number of cases where there are signs that we might be able to resolve them relatively soon,” Chief Executive Officer John Cryan told reporters at a press conference in Frankfurt. The next two years will “be burdened with, sadly, either direct costs or more provisions,” he said.

Continue reading article.

PiggyBankBlog Courtroom Bailiff: “All Rise! Gold Olympian Cindy Brown has entered the Courtroom of Public Opinion in recent PiggyBankBlog Court of Public Opinion Radio Interview!”.