zerohedge.com / by Tyler Durden / Oct 5, 2016 3:44 PM
So much for last week’s rumor of an imminent reduction in the DOJ $14 billion settlement, which sent the price of DB soaring, and propelled the global stock market higher.
Moments ago, Reuters reported that the German government is pursuing “discreet talks” with U.S. authorities to help Deutsche Bank secure a swift settlement over the sale of toxic mortgage bonds.
German officials have, until now, played down their role in the standoff, saying it is up to Deutsche to work out a deal with the DOJ, which is demanding $14 billion to settle RMBS misselling claims. But now it has been confirmed that Berlin government officials are hoping to “facilitate a quick deal that would buy Deutsche Bank time to regain its footing.”
One senior government official told Reuters there was “contact at all levels” between German and American officials. Another source said Finance Minister Wolfgang Schaeuble was not planning to meet DOJ officials during a trip to Washington this week for International Monetary Fund meetings, but added: “You can hold talks. It doesn’t have to be the minister.”