- The German government is preparing a rescue plan for Deutsche Bank (NYSE:DB) in case the lender would be unable to raise capital itself to pay for costly litigation, Die Zeit reports.
- According to the draft plan, Deutsche would be enabled to sell assets to other lenders at prices that would not put an additional burden on the bank. In an extreme emergency, the German government would even offer to take a direct stake of 25%.
- But conflicting reports seem to say otherwise. A state aid request is "out of the question for us," Deutsche Bank CEO John Cryan declared, while German financial regulator Bafin said it wasn't working on an emergency plan.
- DB +1.8% premarket