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DEUTSCHE BANK WRITES IT'S LIVING WILL. WILL IT DIE?

DEUTSCHE BANK WRITES IT'S LIVING WILL. WILL IT DIE?

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Published by 83jjmack
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires that bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Federal Reserve submit resolution plans annually to the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). Each plan must describe the company's strategy for rapid and orderly resolution under the Bankruptcy Code in the event of material financial distress or failure of the company.

Companies subject to the rule are required to file their initial resolution plans in three groups and on a staggered schedule. Plans for the first group, which includes U.S. bank holding companies with $250 billion or more in total nonbank assets and foreign-based bank holding companies with $250 billion or more in total U.S. nonbank assets, must be submitted on or before July 2, 2012.

As required under section 243.8(c) of the Board's Regulation QQ (12 CFR 243.8(c)), each resolution plan must be divided into a public section and a confidential section. The public sections available on the Board’s website have not been edited or reviewed by the Board and are provided exactly as submitted by the companies.
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires that bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Federal Reserve submit resolution plans annually to the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). Each plan must describe the company's strategy for rapid and orderly resolution under the Bankruptcy Code in the event of material financial distress or failure of the company.

Companies subject to the rule are required to file their initial resolution plans in three groups and on a staggered schedule. Plans for the first group, which includes U.S. bank holding companies with $250 billion or more in total nonbank assets and foreign-based bank holding companies with $250 billion or more in total U.S. nonbank assets, must be submitted on or before July 2, 2012.

As required under section 243.8(c) of the Board's Regulation QQ (12 CFR 243.8(c)), each resolution plan must be divided into a public section and a confidential section. The public sections available on the Board’s website have not been edited or reviewed by the Board and are provided exactly as submitted by the companies.

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Categories:Business/Law, Finance
Published by: 83jjmack on Jul 04, 2012
Copyright:Attribution Non-commercial

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11/07/2012

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Deutsche Bank
Deutsche Bank Resolution PlanSection 1 Public Section
29
June
2012
Deutsche
Bank
IZI
 
Deutsche Bank
IZI
I.
Summary
of
Resolution Plan
Deutsche
Bank
2
 
IZl
Summary of
Resolution
Plan
Introduction
Deutsche Bank Aktiengesellschaft
("DBAG"
and, together withits subsidiaries,the
"DB Group")
ispleased to present the publicsection
("PublicSection")
of
itsplan
for
the rapidandorderly resolutionof the U.S.operations (the
"U
.S. Resolution Plan")
of
the
DB
Group.Underthefinalregulations implementingSection165(d)of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the
"Dodd-FrankAct"
),
which was signedinto lawby President Obama onJuly21, 2010, a "rapid and orderly resolution" meansareorganizationorliquidation
of
a covered companythatcan be accomplished withina reasonable period
of
time andinamanner thatsubstantially mitigates the risk thatthefailure
of
suchcompanywouldhaveserious adverse effects onfinancialstability
in
theUnitedStates.InSeptember 2011, pursuant to the Dodd-Frank Act, the Board
of
Governors
of
theFederal ReserveSystem
("FederalReserve")
and the Federal DepositInsuranceCorporation
("FDIC")
issued afinalrulethat requires bankholdingcompanies with assets
of
$50billion or more, along with companiesdesignated as systemicallyimportantby the Financial Stability Oversight Council
("FSOC"),
to submit tothe Federal Reserve, the FDIC and the FSOCaplan for resolution underChapter
11
of
the
U.
S.BankruptcyCode(the
"Bankruptcy Code")
intheevent
of
material distress
or
failure.
1
The DB Group'sinitial U.S.ResolutionPlansubmissionisdueonJuly 1,2012,withannual andinterim updates due thereafter. The Federal Reserveandthe FDIC haveeach, byrule, through thesupervisoryprocessand through meetings with the DBGroup,prescribed theassumptions,requiredapproach and scope
for
theU.S. Resolution Plan. Foraforeign-basedcovered companylikethe
DB
Group,the rule only requires theU.S.Resolution Plan
to
include informationwithrespect
to
itsbranchesandagencies, andcritical operations and core businesslines, asapplicable, thataredomiciledinthe United States
or
conductedinwhole or material partin the UnitedStates.Headquartered in Frankfurtam Main, Germany,the
DB
Groupis the largest bankin Germany and one
of
thelargest financial institutions
in
Europe andthe world,asmeasured
by
total assets
of
€2,164billion as
of
December 31, 2011.Asof that date,the DBGroup employed 100,996 people
on
afull-timeequivalent basis and operated
in
72 countries out of 3,078 branches worldwide,
of
which 66% wereinGermany.TheDB Group offers a wide variety
of
investment, financialand related products and services to privateindividuals,corporate entities andinstitutionalclients around the world. TheDBGroup is aleadingglobalinvestmentbank.with a strong and growing privateclientsfranchise. The DBGroup considersthese
to
bemutuallyreinforcingbusinesses,andtaking fulladvantage
of
thesynergy potentialbetween thesebusinessesisa strategic priority.The DB Groupisaleader inEurope, with strong positions
in
NorthAmerica, Asia, and key emerging markets. The DB Group takesitas its mission to bethe leadingglobal provider
of
financialsolutions, creatinglastingvalue foritsclients, its shareholders,itspeople andthecommunitiesinwhichitoperates. Withtheonset
of
the financial crisisin2008, the bankinglandscapechanged and newlong-term challenges
for
theindustryemerged,most notably regulatorychanges.The DBGrouprecognized the
1
InJanuary 2012,the FDICalso issued afinal rule that requires insured depository institutions ("lOis") with assets of $50billionor more tosubmitperiodically to the FDIC a plan(the"IDI Plan") forresolution
in
the event
of
failure under theFederal DepositInsurance Act("FDIA").The
DB
Groupis notrequiredatthistime tosubmit
an
IDIplan because neitherofthe
DB
Group'sI Dis has assets of $50billionormore.
Deutsc
he
Bank
3

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