Deutsche Bank to set up 50 billion euro bad bank in revamp

FRANKFURT (Reuters) - Deutsche Bank is planning to overhaul its trading operations by creating a so-called bad bank to hold tens of billions of euros of non-core assets, a source close to the matter said on Monday.The overhaul, first reported by the Financial Times, will also include shrinking or shutting equity and rates trading businesses outside of Europe. The bad bank would house or sell assets valued at up to 50 billion euros (£44 billion) - after adjusting for risk - and comprising mainly..