German Banks’ Group Wants Uncertainties In Sector Settled Soon
The sooner uncertainties in Germany’s banking sector can be settled the better, the head of the BdB banking association, Michael Kemmer, said on Saturday.
Deutsche has been engulfed in crisis since news emerged last month of a U.S. demand for a $14 billion settlement over the sale of toxic mortgage bonds. The bank is fighting the fine but could have to turn to investors for more money if it is imposed in full.
Kemmer welcomed German politicians’ restraint with regard to Deutsche. Finance Minister Wolfgang Schaeuble has declined to comment on whether the German government would be ready to rescue the bank, Germany’s largest lender.