Deutsche Bank May Need To Raise $15 Billion (DB)

There were reports that Deutsche Bank DB will have to raise additional capital in order to comply with Basel III capital requirements, and this send shares down sharply. Deutsche Bank may have to raise $11 billion in capital, and there are rumors out on Wall Street the bank may have to raise more than $15 billion in capital. The majority of the European banks will probably have to raise additional capital according to Peter Boockvar, equity strategist at Miller Tabak. Shares of Deutsche Bank AG are down $1.77 right now to $60.19, off the worst levels of the session. It briefly touched a low of $59.36, before gaining some ground back.