Thursday, April 4, 2013

German regulators probe Deutsche Bank accounts: sources

Germany's Bundesbank and financial watchdog Bafin are conducting an in-depth probe of Deutsche Bank AG's accounts over allegations that it failed to correctly value a derivatives portfolio, sources familiar with the investigation said.

Two of the sources said on Thursday that Germany's central bank was reacting to accusations that Deutsche Bank had incorrectly valued credit derivatives from 2007 through 2010, allowing it to hide as much as $12 billion in losses.