Deutsche Bank says it will never need state aid
November 9, 2012 7:00 AM EST
Deutsche Bank, on a international regulator's list of four banks that would pose the greatest risk to the global financial system if they collapsed, will never need to be bailed out, its co-chief executive said.
"We are not dangerous and we never were because we didn't need to ask the state for help and we will not do that in future either," Juergen Fitschen said at an economic conference in Hamburg.
He was reacting to the Financial Stability Board's decision last week to place Deutsche, along with three other banks, in its highest risk category, requiring them to hold extra capital to absorb potential losses.
Deutsche had declined to comment on the move by regulators last week, but on Thursday Fitschen expressed his annoyance at subsequent media reports that branded Germany's biggest lender the world's most dangerous bank.
"That is more than irresponsible - that is pure stupidity," he said. "Nobody claims that we are the most dangerous bank in the world. What's behind this is all quite simple - the fact is if Deutsche Bank runs into trouble, it is of great significance for many markets."
Deutsche, along with Citigroup Inc, HSBC and JPMorgan Chase & Co, will be required to hold an extra 2.5 percent of common equity as a percentage of risk-weighted assets on top of a 7 percent minimum being phased in from January.
"We are systemically relevant even in America, the biggest of all of the financial markets. It would be sad if we had not achieved this status after so many years of trying," Fitschen said.
(Reporting by Michelle Martin; Editing by David Goodman)
Most Popular Slideshows
- George Clooney And Amal Alamuddin's Wedding In Venice: Photos Of Groom And His Family, Friends [Slideshow]
- NFL Recap - Week 4: Green Bay Packers 38, Chicago Bears 17 [PHOTOS]
- Walking Is Superfood For Fitness; Celebrities Who Walk For Health
- Derek Jeter With The New York Yankees Through The Years [IN PICTURES]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- 3 Reasons to Get the Samsung Galaxy Note 4 Instead of the iPhone 6
- iPhone 6 vs Moto G 2014: Motorola’s Budget Smartphone Takes On Apple’s Premium Smartphone
- Google HTC Nexus 9 Tablet October 24 Launch Date Benefits Many
- Galaxy Note 4 vs Nexus 6: Which Smartphone Dominates
- MH 370 Search In Ocean To Intensify With Hi Tech Ships Joining The Plane Hunt From October
- Nexus 7 Tips and Tricks
- Obama’s Bid To Blame Intelligence Chief For Inaction On ISIS Backfires: McCain Asks Obama To Admit Own Mistakes