Financial Times: Deutsche Bank To Slash U.S.-based Assets By $100 Billion

wochit business
February 24, 2014 AT 3:40 AM
The Financial Times reported Sunday that Deutsche Bank has laid out plans to reduce its U.S. balance sheet as the U.S. Federal Reserve adopts new rules to shield the country's taxpayers from costly bailouts. The FT said the lender is expected to reduce its $400 billion balance sheet in the United States to around $300 billion in part by reassigning operations such as its Mexican arm and its Frankfurt and Tokyo-based repo businesses that are currently part of its U.S. business elsewhere. Deutsche's Chief Financial Officer Stefan Krause told the FT that the lender was confident it would be able to meet the new capital and leverage requirements imposed on its U.S. unit.