Reuters reports that due to ‘widespread and critical deficiencies’ in the bank’s capital planning controls the German bank’s US subsidiary has failed the second leg of its annual test for resilience in case of financial pressures. The decision was unanimous, but they are not alone. The Fed’s board also placed conditions on Goldman Sachs Group, Morgan Stanley and State Street Corp, the first two because of their capital base and the latter which must improve counterparty risk.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis