Deutsche Bank is the only major European lender that has to pay to borrow money over a 9 or 12-month period.
The bank paid 0.06% interest for a one-year loan and 0.02% for a nine-month loan, according to data compiled by the European Money Market Institute and reported by Reuters.
The data shows that lenders are more worried about the financial health of Deutsche Bank than the other 19 members of the Euribor panel.
The group includes Italy’s struggling Banca Monte dei Paschi, which borrows one-year money at -0.06%, and the National Bank of Greece, which borrows at -0.04%.
Most banks in Europe borrow money at negative rates, meaning they are paid to borrow, after the European Central Bank lowered its benchmark interest rates to below zero and pumped hundreds of billions of euros of liquidity into the financial system to stabilise the region’s banks.
The figures are submitted by banks to compile the Euribor lending benchmark, which shows the overall cost of short-term financing for Europe’s banks.
Here is the chart:
The German bank is facing several issues of concern to investors.
Deutsche Bank has had to adjust its business model to cope with stagnating growth in Europe and the low interest rate environment, leading to a period of restructuring.
Meanwhile, US authorities are demanding a fine of up to $14 billion (£11 billion) for mis-selling mortgage-backed securities before the 2008 financial crisis. The bank’s share price has slumped by more than 20% in recent weeks, dropping to a more than 30-year low a couple of weeks ago.
The bank has tried to reach a settlement before next month’s presidential election. However, so far no deal has been reached.
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