Deutsche Bank suffers falls of more than 10% dragged down by the possible non-payment of CDS insurance
Nervousness drags down European banks again: the price of the main banks has once again registered sharp falls this morning.
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Euskaraz irakurri
Euskaraz irakurri: Deutsche Bankek % 10etik gorako beherakada izan du, CDS aseguruak direla eta
Deutsche Bank, the main bank in Germany, suffers this Friday falls of more than 10% dragged by guarantee insurance against default, known as credit default swaps (CDS) that allow an investor to contract a kind of policy that indemnifies if a debtor does not serve his creditors.
The Euro Stoxx 600 index for the banking sector was down more than 3% before reaching mid-session, with Deutsche Bank leading the declines.
The price of the main banks of the Old Continent registered sharp falls again this Friday, which suggests that the recent interventions by the financial authorities have not calmed the nerves of investors, after the large central banks have continued to raise prices. interest rates despite the turbulence unleashed by the bankruptcy of banks in the United States and the rescue of Credit Suisse.
The largest bank in Germany, whose cost of guarantee insurance against non-payment (CDS) has registered a strong increase, announced this Friday its intention to repay early 1.5 billion dollars (1.379 billion euros) in level 2 subordinated debt of fixed rate, due 2028, on May 24, 2023 at 100% of your principal amount, together with accrued interest up to (but excluding) the redemption date.
On its side, the Scandinavian Nordea fell more than 7% and the Swiss UBS was listed with a fall of 5.5%, while the titles of the German Commerzbank and the French Société Générale lost almost 5%, respectively, and those of the Italian UniCredit and French BNP Paribas each fell more than 3%.
Likewise, the shares of other large European banking entities such as ING, Intesa Sanpaolo or ABN Amro registered falls of more than 2%.
In the case of Spain, Banco Sabadell led the falls at 11:00 a.m. with a decrease of 6.85%, followed by Unicaja Banco (-5.62%), BBVA (-5.35%), Banco Santander (-4.97%), CaixaBank (-4.81%) and Bankinter (-4.71%).
Source: Eitb
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