The Traderszone Network

Published in TZ Latest News 23 July, 2014 by The TZ Newswire Staff

NY Fed found serious problems at Deutsche Bank’s U.S. arms: source

The Federal Reserve Bank of New York has found serious problems in Deutsche Bank’s U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told Reuters. In a letter to the German lender’s executives last December, a senior official with the New York Fed described financial reports produced by some of the bank’s U.S. divisions as “low quality, inaccurate and unreliable”, said the source, who is familiar with the letter. The New York Fed, as the U.S.

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