HALISTER: DOJ Said to Ask Deutsche Settle U.S. Probe for $14b: WSJ

DOJ Said to Ask Deutsche Settle U.S. Probe for $14b: WSJ

(Bloomberg) -- DOJ proposed Deutsche Bank pay $14b to settle mortgage-securities probe, WSJ reports, citing unidentified people familiar.
  • Figure between U.S. govt, Deutsche is preliminary
  • Co. expected to “push back strongly” against it; unclear what final outcome will be
  • Co. lawyers suggested that Deutsche views $2b-$3b as a reasonable cost for settlement
  • Deutsche spokesman responded to questions about a settlement by pointing to a July filing saying that talks had started with DOJ: WSJ
  • NOTE: Deutsche Bank shrs fall as much as 7% post-mkt
Alert: HALISTER
Source: BFW (Bloomberg First Word)

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