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Deutsche Bank loses euro94 million on CVA mismatch
Deutsche Bank lost E94 million in the first half of 2013 on credit default swap positions that were being used to reduce Basel III capital requirements -- the result of a disparity in the way regulators and accountants view the hedges, according to a spokesman for the bank. Traders at other institut...
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| Published in: | Risk (London. 1987) 2013-09, Vol.26 (9), p.6 |
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| Format: | Magazinearticle |
| Language: | English |
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| container_issue | 9 |
| container_start_page | 6 |
| container_title | Risk (London. 1987) |
| container_volume | 26 |
| creator | Carver, Laurie |
| description | Deutsche Bank lost E94 million in the first half of 2013 on credit default swap positions that were being used to reduce Basel III capital requirements -- the result of a disparity in the way regulators and accountants view the hedges, according to a spokesman for the bank. Traders at other institutions see the loss as proof the new capital rules -- implemented in Europe via the fourth Capital Requirements Directive -- are encouraging banks to take more risk. The disclosure appears in Deutsche Bank's interim report, published on July 30, which says the loss resulted from trades the bank had put on to reduce capital requirements for derivatives counterparty risk -- the credit valuation adjustment value-at-risk charge. |
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Traders at other institutions see the loss as proof the new capital rules -- implemented in Europe via the fourth Capital Requirements Directive -- are encouraging banks to take more risk. 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| fulltext | fulltext |
| identifier | ISSN: 0952-8776 |
| ispartof | Risk (London. 1987), 2013-09, Vol.26 (9), p.6 |
| issn | 0952-8776 |
| language | eng |
| recordid | cdi_proquest_journals_1441312934 |
| source | ABI/INFORM global |
| subjects | Accounting Banking industry Banks Capital requirements Credit default swaps Credit risk Derivatives EU directives Hedging International Financial Reporting Standards Noise Regulation of financial institutions Risk factors |
| title | Deutsche Bank loses euro94 million on CVA mismatch |
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