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Deutsche Bank lost 12 times more than it thought was possible in one day of trading
Traders at Deutsche Bank's US unit suffered losses 12 times larger than its risk projections estimate could occur in one day. News of the trading day, which happened earlier this year, was detailed on a May filing from the bank, Bloomberg reported. "There's questions about what this was…. But all we know is there was this outsized day that was two, three, four times bigger than anything we've ever seen," reporter Sonali Basak, told Bloomberg TV, adding "It's very unusual." On 19 June, the day before news of the trading losses emerged, Deutsche bank let go of five emerging market traders. The German headquartered ... (full story)
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