Deutsche Bank announced today its appointment as depositary bank for the American Depositary Receipt program of Just Eat Takeaway.com N.V. (the "Company").
During this initial amortization period the transaction will amortize sequentially and the Class A will build up credit enhancement. This represents the first issuance of the program.As of 17th of April 2021, the EUR 4.74bn portfolio included 642,348 consumer loans granted to private obligors located in Italy. Geographically, the largest geographic concentration is in the North of Italy (49.2%).Moody's analysis focused, amongst other factors, on: (i) an evaluation of the underlying portfolio of loans at closing and incremental risk due to loans being added during the up to 36 months revolving period; (ii) the historical performance information of the total book and past ABS transactions; (iii) the credit enhancement provided by the subordination, and the reserve fund; (iv) the reserve fund covering 3 months of senior fees and interest on Class A notes; and (v) the overall legal and structural integrity of the transaction.According to Moody's, the transaction benefits from various credit strengths such as a granular portfolio, the extensive historical data provide provided.
Germany’s financial watchdog has ordered Deutsche Bank to fix its anti-money laundering controls in a move that shows Christian Sewing, chief executive, has still not sorted out all shortcomings three years after taking office. BaFin on Friday evening said it had broadened and extended the mandate of KPMG, which it installed as special representative in September 2018 to monitor the lender’s progress on beefing up its internal controls. The special representative’s appointment was an unprecedented move in 2018.