bank

Just when it seemed that no more lawsuits are possible for Germany's largest lender, which over the past two years has settled or otherwise paid billions to set aside a barrage of allegations of wrongdoing leading to the bank's suspension of bonuses for most senior bankers, today we learn that Deutsche Bank was sued by a Jewish charitable trust in Florida, alleging that the bank wrongly withheld as much as $3 billion from the heirs to a wealthy German family.

Heading into the Chinese Lunar New Year, local banks are suddenly starved for liquidity like never before. On Tuesday China’s benchmark money-market rate jumped the most in two years, with unprecedented cash injections by the central bank being overwhelmed by demand before the Lunar New Year holidays.

While Deutsche Bank shareholders have certainly seen some recent relief following last year's stock acrobatics which sent the the largest German lender crashing to all time lows last fall, the bank's employees have far less to look forward to.

First, it was a report by the NY post, according to which Deutsche Bank may hold back on giving out bonuses to as many as 90% of bankers and traders, noting that only the top 10% of revenue generators may get a bonus for 2016, and even that would be paid out over the next five years, according to a source briefed on internal discussions.

We've all been eagerly waiting to see them: Venezuela's crisp,brand new yet soon to be hyperinflated with many more zeros banknotes, and finally, after various failed attempts to deliver the new bills to Caracas (which according to Maduro were at least partially aborted due to pesky CIA meddling) they have arrived. And they are vertical.

A new bank note of 500 Bolivars held outside a bank in Caracas. Jan. 16, 2017.

A new bank note of 5,000 Bolivars outside a bank in Caracas. Jan. 16, 2017.

Turkey's biggest headache, its crashing currency which the central banks appears unable to contain due to an Erdogan order not to hike rates, could soon translate into another major problem. According to two senior economy officials, Turkish inflation could reach double digits in the first quarter for the first time in almost five years as a result of the lira's falls, putting more pressure on the central bank to hike interest rates.