Deutsche Bank 'got special treatment' in stress tests
Europe's biggest bank Deutsche Bank received 'special treatment' during the EU summer stress tests, it was claimed yesterday.
According to a report in the 'Financial Times', Deutsche's results included the $4bn intake the bank received from the sale of its stake in Hua Xia.
However, the deal for the Chinese lender had not been completed by the end of 2015, which was the deadline for transactions to be included in the tests.
The stress tests were carried out in a bid to restore confidence in Europe's banks.
The German lender has used the stress test results since then to demonstrate the strength of its finances. The news comes after shares in the bank plummeted amid fears it could face a fine of up to $14bn from the US.
The newspaper reported that the bank was granted a special concession, agreed by its supervisor the European Central Bank, to allow the Hua Xia deal, which has still not been completed, to be accounted for in the tests.
The treatment of the deal was included in the footnotes of Deutche's results, however it was the only bank of 50 to have such a note.