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Deutsche Bank CEO: We won’t get rid of our US unit despite failing Fed bank stress tests

June 29, 2018

Via: CNBC
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Deutsche Bank CEO Christian Sewing told CNBC on Friday the German banking giant remains committed to its U.S. unit even after failing the second round of annual Federal Reserve stress tests.

The Fed said on Thursday it saw “widespread and critical deficiencies” in the bank’s capital planning controls.

Last week, Deutsche Bank cleared the Fed’s easier first stress test hurdle, which measured capital levels against a severe recession, the strictest scenario ever run by the U.S. central bank.

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