La Bundesbank has opened an investigation into Deutsche Bank. The Financial Times revealed it today, explaining that the investigation would concern the alleged concealment of losses of about 12 billion dollars. A chasm opened up in the Bank's accounts between 2006 and 2009 due to a series of operations on derivative securities.
According to sources cited by the British newspaper, German central bank inspectors will fly to New York next week to shed light on speculation that would have allowed Deutsche Bank to avoid a bailout request during the recent financial crisis.
The Buba inspectors intend to hear several people, including former employees of the institution familiar with the operations on derivatives. Last December again the Financial Times had released the news of an investigation by the SEC (the American Consob) on the losses of Deutsche Bank linked to derivatives.
For its part, the German Bank would have reiterated yesterday that the allegations are unfounded and that the story - two and a half years old - has already been investigated by a law firm commissioned by the same institution.
