Markets Are Stabilizing: DB Chief
The financial markets are stabilizing, according to the chief executive at Deutsche Bank, reports MarketWatch.com. “In the last few days, there have been signs that markets begin to stabilize. Liquidity is returning,” said Joseph Ackerman at a banking conference in Frankfurt. The bank has not suffered funding problems even as the credit crisis became more and more severe, he said. “Despite an environment of higher spreads and a focus on the short end, availability of funding has not been a problem for Deutsche Bank in recent weeks,” according to Ackerman. The chief executive did say that the market conditions have affected the bank’s sales and trading and corporate finance arms.