In a worryingly coincidentally timed move, Moody's has put Desutche Bank on review for downgrade, citing "execution challenges" in its new strategic plan. The worrying aspect comes from the fact the timing is entirely fitting with the ratings downgrade that started the last and most painful down-leg in Lehman's collapse...
Full Moody's statement
Moody's reviews for downgrade Deutsche Bank's ratings (senior debt at Baa1)
New York, March 21, 2016 -- Moody's Investors Service has placed on review for possible downgrade the ratings of Deutsche Bank AG ("Deutsche Bank") and affiliates, including the bank's long-term deposit rating of A2, its senior unsecured debt rating of Baa1, its standalone baseline credit assessment ("BCA") of baa3, its counterparty risk assessment of A2(cr), as well as its short term ratings and short term counterparty risk assessment of Prime-1 and Prime-1(cr), respectively.
Also placed on review for downgrade were the long-term ratings of US-based Deutsche Bank Trust Corporation and its trust company affiliates, considering the close linkages of the franchise value of these operations to those of the parent Deutsche Bank. Principal ratings affected include the long-term deposit ratings of A1, issuer ratings of Baa1, the standalone baseline credit assessments of a3, and the counterparty risk assessments of A2(cr) and Prime-1(cr). The Prime-1 short-term deposit ratings of the trust companies were affirmed.
Are we heading into another banking crises and if so what action should we take?
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