FRANKFURT (S&P Global Ratings) Dec. 23, 2016--S&P Global Ratings said today that Deutsche Bank AG's (BBB+/Watch Pos/A-2) announcement that it has agreed to settle with the U.S. Department of Justice over its issuance and underwriting of mortgage-backed securities between 2005 and 2007 will not immediately affect our ratings and outlook on the bank or its subsidiaries. Under the terms of the settlement, Deutsche Bank agreed in principle to pay a monetary penalty of $3.1 billion and provide consumer relief totaling $4.1 billion over the course of at least five years post settlement. Furthermore, Deutsche Bank has announced that in its 2016 fourth-quarter financials it will take a pre-tax charge of about $1.17 billion as a consequence of the civil monetary
