ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

Deutsche Bank Would Use Bridge Bank in Case of Failure

--Would sell some US assets, transfer others to bridge bank --The bridge bank would be German government-owned special purpose vehicle --Measures form part of bank's so-called living will Deutsche Bank AG (DB) would sell some U.S. assets and transfer systemically important assets and liabilities to a German government-owned bridge bank if it were to fail, under the terms of a "living will" contingency plan it submitted to U.S. regulators. "[German regulator] BaFin would issue a transfer order pursuant to which all or part of the assets, liabilities and material contracts" that are systemically important would be transferred into a German government-owned special purpose vehicle, called a "bridge bank," Deutsche Bank said in the crisis resolution scheme. The plan was requested by U.S. regulators to guide the banks' liquidation in the case of severe crisis. More than 100 large financial firms are required to submit living wills to the Federal Reserve and the Federal Deposit Insurance Corp. This was demanded by the 2010 Dodd-Frank financial overhaul to halt the perception that such firms are "too big to fail," or so large and complex that the government would be pressured to rescue them in a crisis. In the case of Deutsche Bank, the bridge bank would continue to operate the systemically important or "good" parts of the bank for a period of time, Deutsche Bank said. The rest would be wound down at the expense of equity holders and creditors. Deutsche Bank said it assumes U.S. regulators would cooperate with Germany's BaFin, which would establish an order for the assets to be transferred to the bridge bank. While some banks suggested concrete steps for a break-up in their living wills, Deutsche Bank only said "some of the U.S. businesses would be saleable to third-party purchasers, including other foreign financial institutions, certain U.S. banks and non-bank financial institutions," adding that other U.S. businesses may need to be wound down. Citigroup (C) in its report argued for a quick sale of its brokerage businesses and Goldman Sachs (GS) backed quick piecemeal sales of all its business lines to avoid liquidation of the whole institution. Goldman Sachs said that in the event it goes under, it would be better to sell its various businesses individually rather than to initiate a company-wide asset liquidation that could weigh on markets. -Write to Eyk Henning at eyk.henning@dowjones.com

Stock News for Citigroup (C)
DateTimeHeadline
06/24/201618:10:00Bank Shares Plummet Around the World, but Europe Fares Worst
06/24/201616:40:00Brexit' Vote Leads to Frantic Day for Trading Desks, With Chill...
06/24/201613:00:33Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/24/201613:00:05Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/23/201618:16:00Citigroup Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201617:19:00Citi Releases Certain Disclosures Required by the Federal Reserve...
06/23/201617:10:00Fed Stress Tests: All Big Banks Clear Bar for Capital Requirements
06/23/201617:00:00Citigroup Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201617:00:00Wells Fargo Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201612:54:18Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/22/201617:00:00Bladex, Citi and Mizuho co-lead successful syndication of a US$135.5...
06/22/201613:51:40Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/22/201612:53:08Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/21/201617:00:23Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/21/201608:10:00United Continental Targets $3.1 Billion in Revenue, Efficiency...
06/21/201606:03:20Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/21/201603:02:00Citi, BofA Gear Up For Next 'Stress Test' -- WSJ
06/20/201617:00:00Bank of America, Citigroup -- and Shareholders -- Brace for Stress-Test...
06/20/201608:30:00New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards...
06/20/201607:00:00Citi Completes Acquisition and Conversion of Costco U.S. Co-Brand...

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad