Deutsche lost $1.6B on muni bond investment made in 2007: WSJ [Seeking Alpha]
Deutsche Bank AG (DB)
US:NYSE Investor Relations:
db.com/ir/index_en.htm
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Source: Seeking Alpha
Deutsche lost $1.6B on muni bond investment made in 2007: WSJ - Deutsche Bank AG (NYSE:DB) | Seeking Alpha Financials Deutsche lost $1.6B on muni bond investment made in 2007: WSJ Feb. 20, 2019 3:23 PM ET | Deutsche Bank AG (DB) Liz Kiesche Deutsche Bank ( +1.6% Wall Street Journal "This transaction was unwound in 2016 as part of the closure of our Non-Core Operations" unit, a bank spokeswoman said in an email to the Deutsche Bank bought in 2007 about a $7.8B portfolio of 500 municipal bonds, which were insured by specialized monoline insurers to protect the bank against defaults by the issuers. In March of 2008, the bank bought additional default protection from Berkshire Hathaway for $140M. By the end of 2011, the bank had a little over $115M of reserves set aside to cover potential losses on the trade. That figure rose to over $1B at the start of 2016. By May the bank calculated an additional loss of $728M-$768M to sell the portfolio and unwind the loss protection from Berkshire.
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News
- J.B. Hunt's long-term intermodal growth plan weighs on Q1 result [Yahoo! Finance]Yahoo! Finance
- Deutsche Bank Aktiengesellschaft (NYSE: DB) was upgraded by analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating.MarketBeat
- Deutsche Bank Aktiengesellschaft (NYSE: DB) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Deutsche Bank Aktiengesellschaft (NYSE: DB) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Deutsche Bank Aktiengesellschaft (NYSE: DB) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
DB
Earnings
- 2/2/24 - Beat
DB
Sec Filings
- 4/22/24 - Form 424B2
- 4/17/24 - Form 424B2
- 4/16/24 - Form 424B2
- DB's page on the SEC website