Bafin blocked Deutsche Bank correlation exit, funds claim

EU stress tests showed €34.5 billion notional legacy book

Deutsche Bank

Deutsche Bank failed to offload its legacy correlation trading book last year when, at the last minute, the German prudential regulator – the Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) – blocked the deal, according to three sources at funds involved in buying distressed securitisation and structured credit assets.

"Deutsche got close to doing this at the start of 2013 or end of 2012, but didn't execute the trade because the German regulator didn't want the transaction to go ahead,"

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