Plimsoll Day - Wednesday, page-21

Worrying reverberations coming from banks. . .

Greek banks: Eurobank Ergasias, Piraeus Bank and National Bank of Greece all plunged more than 27 per cent on Monday. That's after being down 26 per cent in 2016. (Are they just the canary in the coal mine?)

The European Central Bank might have to provide support to Deutsche Bank if its stock price continues to plunge. In the last week of January Deutsche reported a terrible profit result, a €6.89 billion loss for the year and a €2 billion loss in the fourth quarter. Over the past year, Deutsche's core equity Tier 1 capital has fallen from €60 billion to €52 billion.

As energy prices have declined in the past year, “asset quality among US regional banks with large energy portfolios has deteriorated,” S&P said. The move comes hours after S&P downgraded Chesapeake Energy deeper into junk territory and took ratings actions on 45 energy exploration companies.

Austraila's bank’s margins have come under pressure as heightened volatility pushes up wholesale funding costs

http://www.smh.com.au/business/banking-and-finance/deutsches-problems-reverberate-through-global-banks-20160209-gmpdqm.html#ixzz3ziYqrvOr

http://www.copyright link/markets/equity-markets/greek-banks-plunge-27pc-as-traders-rush-for-exits-20160208-gmp13f#ixzz3ziYAUDQ9

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