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Pam and Russ Martens: Deutsche Bank's market value plunge is big problem for Fed
By Pam and Russ Martens
Wall Street on Parade
Wednesday, March 9, 2022
Deutsche Bank closed at $16.50 on the New York Stock Exchange on February 10. It closed at $10.23 yesterday -- a decline of 38% in a month's time. That's a big problem because Deutsche Bank is heavily interconnected to Wall Street banks via derivatives.
According to Deutsche Bank's most recent annual report, as of December 31, 2020, it held $35.4 trillion in notional derivatives. (Notional means face amount.)
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Deutsche Bank, a large German bank, was among the global banks bailed out by the Fed during the financial crash of 2008 as well as during the (still unexplained) liquidity crash that saw the Fed pump trillions of dollars in cumulative loans into global banks from September 17, 2019, through July 2, 2020.
In June 2016, the International Monetary Fund released a report with a finding that Deutsche Bank posed the greatest threat to global financial stability than any other bank because of its interconnections to Wall Street mega banks and large banks in Europe. The largest bank in the United States, JPMorgan Chase, was shown as one of the banks with the largest amount of exposure. ...
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