Deutsche Bank statement regarding the Federal Reserve’s 2015 DFAST and CCAR results
Deutsche Bank Bank (XETRA: DBKGn.DE / NYSE: DB) 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 ReviewDeutsche 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.
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%.
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.
For further information, please contact:
Deutsche Bank AG
Phone: +1(212) 250-4735
Phone: +1(212) 250-5525
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.