Deutsche Bank fails CCAR; Goldman and Morgan Stanley scrape by
DB USA hit with qualitative fail, while Goldman and Morgan Stanley face dividend and buyback freeze
Deutsche Bank (DB) USA failed the latest round of the Federal Reserve’s annual stress tests, while Goldman Sachs, Morgan Stanley and State Street were handed conditional passes that will limit their capital distributions in upcoming quarters.
The US operations of Deutsche Bank flunked the Fed’s Comprehensive Capital Analysis and Review (CCAR) on qualitative grounds, as a result of “widespread and critical deficiencies across the firm’s capital-planning practices”. This was despite DB USA acing
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