Deutsche Bank today responded to the announcement by the Board of
Governors of the Federal Reserve (the Fed) of the 2015 results of the
Dodd Frank Act Stress Test (DFAST) and Comprehensive Capital Analysis
and Review (CCAR) processes. Deutsche Bank Trust Corporation (DBTC), a
unit of Deutsche Bank AG that accounts for less than 5% of the Bank’s
global assets, was the only first-time participant in the processes.
DFAST
On March 5, the Fed announced that DBTC would maintain capital ratios
well above the required minimum levels during times of economic and
financial stress based on CCAR parameters. Even in a severely adverse
economic scenario, DBTC’s projected Common Equity Tier 1 ratio would
exceed the regulatory minimum level and would not fall below 28.6% over
the nine-quarter planning horizon, while DBTC’s Tier 1 Leverage ratio
would also exceed the regulatory minimum and would not fall below 11.0%.
CCAR
Today, the Fed announced that it objected to the DBTC capital plan for
qualitative reasons, which did not include any planned dividend or share
repurchases. Deutsche Bank is committed to strengthening and enhancing
its capital planning process.
Deutsche Bank has hired 1,300 employees dedicated to ensuring that its
systems and controls are best in class and has hired over 500 employees
across its various control functions in the US. These hires are part of
a previously announced EUR 1 billion investment to support a sustainable
long-term strategic architecture.
DBTC’s disclosures related to DFAST and CCAR results may be found at:https://www.db.com/ir/reports.
The public disclosure of the Federal Reserve’s CCAR results for DBTC and
all other participating companies is available on the Federal Reserve’s
website.
Deutsche Bank is a leading client-centric global universal bank serving
28 million clients worldwide. Deutsche Bank provides commercial and
investment banking, retail banking, transaction banking and asset and
wealth management products and services to corporations, governments,
institutional investors, small and medium-sized businesses, and private
individuals. Deutsche Bank is Germany’s leading bank, with a strong
position in Europe and a significant presence in the Americas and Asia
Pacific.
This release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts; they include
statements about our beliefs and expectations and the assumptions
underlying them. These statements are based on plans, estimates and
projections as they are currently available to the management of
Deutsche Bank. Forward-looking statements therefore speak only as of the
date they are made, and we undertake no obligation to update publicly
any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and
uncertainties. A number of important factors could therefore cause
actual results to differ materially from those contained in any
forward-looking statement. Such factors include the conditions in the
financial markets in Germany, in Europe, in the United States and
elsewhere from which we derive a substantial portion of our revenues and
in which we hold a substantial portion of our assets, the development of
asset prices and market volatility, potential defaults of borrowers or
trading counterparties, the implementation of our strategic initiatives,
the reliability of our risk management policies, procedures and methods,
and other risks referenced in our filings with the U.S. Securities and
Exchange Commission. Such factors are described in detail in our SEC
Form 20-F of 20 March 2014 under the heading “Risk Factors”. Copies of
this document are readily available upon request or can be downloaded
from www.db.com/ir.
Copyright Business Wire 2015