La DB nouveaux ennuis mais …Je te tiens , tu me tiens par la barbichette…

Les activités de la filiale américaine de Deutsche Bank sont montrées du doigt par les régulateurs US.

La DBTCA, filiale US de DB est sur liste des banques à problèmes aux USA. Sur cette liste figurent « les banques qui ont des faiblesses qui menacent leur survie ». DBTCA a des actifs de plus de $ 42 milliards à son bilan.

Le cours boursier de la DB a chuté de 14% depuis avril et il est même repassé sous les 10 euros au lendemain de l’assemblée générale du 24 mai.

La DB est une banque systémique avec un portefeuille considérable de dérivés , lesquels nécessitent une capacité bilantielle importante et … beaucoup de confiance de la part des marchés.

La DB est gourmande non seulement en capital mais aussi en confiance.

Nous avons souvent expliqué que la DB était le reflet des contradictions allemandes, à savoir une entitité nationale profondement insérée dans la finance globale et dépendante pour son refinancement de l’abondance en dollars US .

Son activité aux USA est vulnérable aux pressions et chantages dans un monde ou le fossé géopolitique se creuse entre l’Allemagne de Merkel et les USA de Trump.

On peut mettre à genoux l’Allemagne, il suffit de tordre le bras de la DB, elle est surexposée et fragile.

Mais en raison de l’interconnexion, si Trump touchait à la DB, ce serait suicidaire car les banques qui travaillent avec la DB seraient mises en difficulté, la DB est essentielle dans le secteur des dérivés et si les contreparties en dérivés ne sont pas honorées, le système saute en chaine,; les value @risk des actifs au bilan des banques qui travaillent avec elle exploseraient.

Depuis la dernière crise il y a des accords permanents de swaps de dollars en faveur de certains pays dont l’Allemagne  (et la Suisse), nous n’avons rien vu qui indiqueraient que ces accords ne sont plus en cours.

Je te tiens , tu me tiens par la barbichette…
Le FT:
« Deutsche Bank’s US business put on federal problem bank list

Move adds to issues facing the troubled German lender as it scales back its American operations .

The US subsidiary of Deutsche Bank has been added to a federal list of institutions with weaknesses serious enough to threaten their survival, in a move that will add to the issues facing the German lender as it scales back its North American operations.

The Federal Deposit Insurance Corporation, a bank regulator, said last week its list of “problem banks” — those with financial, managerial or operational weaknesses that endanger their financial viability — had dropped from 95 to 92 between the fourth quarter of last year and the first quarter of this year. But the aggregate assets owned by the problem banks soared over that period from $13.9bn to $56.4bn, suggesting the addition of a single bank with about $42bn in assets.

The addition of Deutsche Bank’s federally insured US business to the list accounted for the shift in assets, according to one person familiar with the situation.

Any bank with a US parent would have had to alert investors to this development. The only US subsidiary of an overseas bank in that size bracket belongs to Deutsche, which has been entangled in a series of regulatory scrapes in the US and dozens of private lawsuits.

Deutsche’s banking arm, known as Deutsche Bank Trust Company Americas (DBTCA), had $42.1bn in assets at the end of April, according to a regulatory filing. The FDIC declined to comment, citing its longstanding policy not to identify any bank on the list for fear of making problems worse.

Deutsche said: “As a matter of policy, we do not comment on specific regulatory feedback. The ultimate parent of the Deutsche Bank Group, Deutsche Bank AG is very well capitalised and has significant liquidity reserves. “Our principal US banking subsidiary, Deutsche Bank Trust Company Americas, has a very robust balance sheet as disclosed in our annual and quarterly regulatory filings. As we have indicated previously, we are highly focused on addressing identified deficiencies in our US operations.”

Deutsche involvement on the critical list is likely to intensify debate among investors over the future of the bank in the US, the world’s deepest investment-banking fee pool.

New chief executive Christian Sewing has responded to three straight years of annual losses by vowing to make big cuts to the investment bank, with much of the adjustment coming in the US. But analysts have asked how Deutsche can keep running a viable business on Wall Street, assuming that it cannot make heavy cuts to compliance or legal or other support functions.

Since the appointment of Mr Sewing as CEO in early April, shares in Deutsche Bank fell by close to 14 per cent, underperforming the wider German stock market which is up 4 per cent over the same period.

In the days after the annual shareholder meeting on May 24, the stock fell below the threshold of €10 to the lowest level since October 2016, when investor confidence in Germany’s largest lender was shaken by media reports that it might be fined $14bn by US regulators.

The FDIC’s list of problem banks is supposed to serve as a gauge of the overall health of the US banking system. At its peak in 2009, the problem list ran to 884 institutions. The drop in the first quarter brought the tally to a new post-crisis low.

To get on the list, a bank must receive a so-called “Camels” rating from bank examiners of four or five, on a scale of one to five. The Camel test rates each element of capital, assets, management, earnings and liquidity, then assigns a composite score. If problems continue with a listed bank, the FDIC takes control and then looks to sell the bank to a stronger lender or liquidate it, refunding depositors.

Deutsche has been rapped repeatedly by US regulators in recent years, over matters ranging from flawed research reports to a failure to fully comply with the Volcker ban on proprietary trading.  When New York’s Department of Financial Services fined Deutsche $425m in January 2007 over Russian “ mirror trades,” it noted that the trades were routinely cleared through DBTCA.

The Federal Reserve, meanwhile, twice failed DBTCA in its annual stress test, before giving Deutsche the all-clear — under relaxed rules — in 2017. In 2016 and 2015, it had faulted the bank for “broad and substantial weaknesses” in its capital-planning processes.

The difference in aggregate assets on the FDIC list and the possibility that this was linked to Deutsche Bank was first reported by Bill McBride, blogger at calculatedriskblog.com.

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