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Zions Enters Into CDO Swap Deal With Deutsche Bank

DOW JONES NEWSWIRES Zions Bancorporation (ZION) said late Wednesday that it entered into a total-return swap and related interest-rate swaps with Deutsche Bank AG (DB) on $1.16 billion worth of bank and insurance trust preferred collateralized debt obligations. As part of the deal, Deutsche Bank will assume all of the credit risk of this CDO portfolio and pay all interest and principal due to the company. The transfer of credit risk to Deutsche Bank reduces the regulatory capital risk weighting for these investments to 20% compared to the weighted average risk-weighting of 455% on June 30, according to Zions. "As a result, the transaction is expected to reduce regulatory risk-weighted assets by approximately $4 billion, or approximately 8.4% of the estimated June 30, 2010 balance," said Zions. -Sue Chang; 415-439-6400; AskNewswires@dowjones.com

Stock News for Zions Bancorporation (ZION)
DateTimeHeadline
05/06/201607:39:59Statement of Changes in Beneficial Ownership (4)
05/04/201612:26:00Zions Bancorporation Announces Annual Meeting Of Shareholders...
05/02/201607:02:26Statement of Changes in Beneficial Ownership (4)
05/02/201607:02:00Statement of Changes in Beneficial Ownership (4)
05/02/201607:01:33Statement of Changes in Beneficial Ownership (4)
05/02/201607:01:06Statement of Changes in Beneficial Ownership (4)
05/02/201607:00:39Statement of Changes in Beneficial Ownership (4)
04/29/201613:25:00Zions Bancorporation Board Declares Dividends For Common And...
04/25/201616:42:46Current Report Filing (8-k)
04/25/201616:24:31Tender Offer Statement by Issuer (sc To-i)
04/25/201616:11:00Zions Bancorporation Commences Tender Offers to Purchase Up to...
04/25/201616:10:00Zions Bancorporation Reports First Quarter Financial Results
04/22/201613:43:05Statement of Changes in Beneficial Ownership (4)
04/18/201617:51:20Statement of Changes in Beneficial Ownership (4)
04/14/201614:56:24Additional Proxy Soliciting Materials (definitive) (defa14a)
04/14/201614:55:05Proxy Statement (definitive) (def 14a)
04/13/201616:26:19Current Report Filing (8-k)
04/05/201613:44:37Statement of Changes in Beneficial Ownership (4)
04/04/201615:16:12Statement of Changes in Beneficial Ownership (4)
04/04/201613:37:05Amended Statement of Changes in Beneficial Ownership (4/a)

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