Dodd-Frank Resource Centre

Welcome to the Deutsche Bank Dodd-Frank Resource Center

Deutsche Bank AG (“Deutsche Bank”) is provisionally registered as a swap dealer with the Commodity Futures Trading Commission (“CFTC”) and will be registered as a security-based swap dealer with the Securities and Exchange Commission (“SEC”) by no later than November 1, 2021. Deutsche Bank’s legal entity identifier (LEI) is 7LTWFZYICNSX8D621K86. This LEI covers Deutsche Bank AG and all its branches.

This website provides information about Title VII of The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and contains certain disclosures that Deutsche Bank is required to provide to certain counterparties when entering into swap transactions regulated by the CFTC (“Swaps”) or security-based swap transactions regulated by the SEC (“SBS”, and together with Swaps, the “Transactions”). Please carefully review all disclosures, material economic terms, and ISDA documentation provided on this website prior to entering into any Swap or SBS with Deutsche Bank.

Certain disclosures provided herein may not be relevant to all Transactions you may enter into with Deutsche Bank. For example, certain disclosures may not apply to counterparties who are non-U.S. persons (as defined by the CFTC and SEC for purposes of Title VII of Dodd-Frank). Please inquire for more information.

Copies of certain pre-printed forms of ISDA Master Agreements, Credit Support Documentation, Product Definitions, and other documentation, including the ISDA Novation Agreement, are available on the ISDA website at the following webpage: https://www.isda.org/books/library. Many of the disclosures provided on this website were developed by working groups organized by the International Swaps & Derivatives Association, Inc. (“ISDA”), which included the participation of many market participants and therefore were drafted to cover a broad range of terms, conditions, product types and features that may not always be relevant to the Transactions you enter into with Deutsche Bank.

These agreements are incorporated by reference into the disclosures provided by Deutsche Bank hereunder and should specifically be reviewed when incorporated by reference into a Confirmation of a Transaction. ISDA has provided many product-level disclosures by asset class, and you should consult the specific disclosures for a given asset class in connection with a Transaction that is covered by that asset class. Please note that this webpage is frequently updated, so please check back for the latest documents and agreements.

Some disclosure documents included on this webpage are password protected and you will receive an email communication from Deutsche Bank that contains the password. If you have not received this communication or are not able to access such documents, please contact us at df.protocol@db.com. ISDA holds copyright on certain ISDA documents, and these documents may not be reproduced or distributed without ISDA’s written permission, except the ISDA Master Agreements, ISDA Credit Support Documents and standardized general and product specific risk disclosures published by ISDA, which may be reproduced and distributed solely for use in documenting specific commercial transactions.

In addition, please note that Deutsche Bank may provide you with additional disclosure statements for Transactions to supplement or supersede the information provided herein, as well disclosures in connection with specific Transactions.

Please note that in respect of each Transaction you enter into with Deutsche Bank and all interactions between you and Deutsche Bank in connection with a Transaction or proposed Transaction, Deutsche Bank is entering into each Transaction in its capacity as a counterparty and is not undertaking to assess the suitability of any Transaction or Swap or SBS trading strategy for you. You will make your own independent decision to enter into the Transaction with Deutsche Bank and as to whether it is appropriate or proper based on your own judgment and upon advice from such advisers as you deem necessary. Nothing provided on this website shall amend or supersede the terms of any written or binding oral agreement between the parties, any related documentation or terms of business provided or published by Deutsche Bank.

In the inter-dealer market, when transacting in Swaps, Deutsche Bank is willing to enter into Swaps with (1) non-U.S. persons who are not guaranteed or conduit affiliates and (2) any registered swap dealer.

Please be sure to bookmark this page and check it frequently for additional announcements. The disclosures may change without notice to you. If you have other questions, please contact df.protocol@db.com or your Deutsche Bank representative.

Key Deutsche Bank Disclosures, Including External Business Conduct, Daily Mark, and Segregation

Counterparty External Business Conduct Rights Document
Daily Mark Methodologies and Assumptions Disclosure Statement
Disclosure Statement Regarding Transaction Terms
Important: Notice of Right to CFTC Segregation of Initial Margin
CFTC Initial Margin Segregation FAQs
CFTC Initial Margin – List of Acceptable Custodians and Indicative Fees
CFTC Segregation Election Letter
Collateral Contact Information Form
Important: Notification of Right to SEC Segregation of Initial Margin
Additional information on Segregation of Initial Margin Posted in Respect of Uncleared Security-Based Swaps – Information on bank resolution procedures and creditor participations (bail-ins)

Key ISDA Disclosure Documents

ISDA U.S. Self-Disclosure Letter
ISDA General Disclosure Statement for Transactions (July 2021)
ISDA ABS Derivatives Disclosure Annex (April 2013)
ISDA Commodities Derivatives Disclosure Annex (March 2021)
ISDA Credit Derivatives Disclosure Annex (July 2021)
ISDA Equity Derivatives Disclosure Annex (April 2013)
ISDA FX Derivatives Disclosure Annex (October 2018)
ISDA Interest Rate Derivatives Disclosure Annex (March 2018)

Dodd-Frank Protocols

ISDA August 2012 DF Protocol
ISDA March 2013 DF Protocol
ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol
ISDA 2021 SBS Protocol
ISDA 2021 SBS Top-Up Protocol

Material Economic Terms

This web page contains links to forms of confirmations and spreadsheets of material economic terms relating to a variety of types of Swaps and SBS (“Transactions”) that Deutsche Bank (“we”) may enter into with counterparties from time to time. Any confirmation or other documentation we directly provide to you in respect of an actual or potential Transaction will supersede the information on this website and, to the extent inconsistent, such confirmation or other documentation will control (the "confirmation"). In addition, the agreed upon terms of any Transaction that we enter into with you will be set forth in the confirmation or other agreement that you and we enter into with respect to that Transaction and may differ materially from the terms set forth in the forms and spreadsheets available on or through this web page. By making this web page available, we are not indicating that we are willing to enter into any Transaction with any counterparty on any terms.

Certain rights and obligations of the parties during the term of a Transaction are generally contained in master documentation (e.g., ISDA master agreement) between DB and the Counterparty (herein, the “Master Agreement”). Certain terms relating to the operation of a Transaction are contained in the provisions of most recent dated asset class definitional booklets provided by ISDA (the “ISDA Definitions”) unless otherwise agreed by the parties. Please refer to your Master Agreement and the ISDA Definitions for these rights, obligations, and terms prior to trading. The ISDA Definitions are also contained in the ISDA bookstore, a link to which is available on this webpage. Any supplements to the ISDA Definitions or other market documents that are distributed by ISDA free of charge are available at: www.isda.org. The remaining terms of any specific Transaction will be contained in the relevant confirmation of the Transaction between Deutsche Bank and the counterparty. Confirmations are generally entered into between Deutsche Bank and the counterparty post-trade.

To furnish the remaining terms of any specific Transaction (to the extent that they constitute material characteristics) at a reasonably sufficient time prior to entering into such Transaction in accordance with the requirements of Title VII of Dodd-Frank, we are setting forth below, for each product, the following terms (which would be found in a Confirmation): (a) static terms and (b) dynamic terms.

Static terms are the terms which will remain the same for the products detailed in the attached material economic terms. The dynamic terms are the terms which are to be agreed between Deutsche Bank and the counterparty at the time of trading. Please note that these specific dynamic terms will then be set forth in a Confirmation.

The information compiled in the material economic terms file, to the extent applicable to a Transaction, have been assembled by MarkitSERV Ltd., which is the owner of such compilation of data, and has licensed it to Deutsche Bank for distribution to you. Any redistribution by you of this data, whether or not for a fee, to third parties is strictly prohibited. The METs Files contain material economic terms (collectively, the “METs Files”) relating to a variety of types of Transactions that Deutsche Bank may enter into with you from time to time. The METs Files may include terms and information that are supplementary to the material information required under the external business conduct rules, and accordingly, the inclusion of terms or information in the METs File should not be construed to mean that each such term or information constitutes material information required under the external business conduct rules. The METs Files do not contain all material information required to be provided to you under the external business conduct rules and should be read in conjunction with the material characteristics, material risks, material incentives and conflicts of interest, the terms relating to the operation of the Swap or SBS, and the rights and obligations of the parties during the life of the Swap or SBS, provided to you by Deutsche Bank. Before entering into any Transaction, you should conduct a thorough and independent evaluation of the terms of the Transaction in light of your particular circumstances and the nature and extent of your exposure to, and willingness to incur, risk. You should also consider whether the Transaction is appropriate for you in light of your experience, objectives, financial and operational resources and other relevant circumstances.

The delivery of these METs Files is for the sole purpose of satisfying Deutsche Bank’s obligation under external business conduct rules and are subject to the important qualifications described below.

Important Qualifications to the METs Files

  1. Any oral and/or written material information Deutsche Bank provides to you prior to execution in respect of an actual or potential Transaction shall supersede the METs Files provided herein and, in the event of any inconsistency between such oral and/or written communication and the METs Files, such oral and/or written communication shall govern. Such superseding material information may include communications notifying you that an actual or potential Transaction will have the terms set forth in a specified prior transaction, form confirmation, terms spreadsheet or master confirmation agreement.

  2. The agreed upon terms of any Transaction that Deutsche Bank enters into with you shall be set forth in a confirmation or other agreement that you and Deutsche Bank enter into with respect to such Transaction. Upon execution of a confirmation or other agreement, the terms specified in these METs Files shall be replaced and superseded by such confirmation or agreement. Such confirmation or agreement may differ materially from the METs Files provided herein.

  3. For Transactions not provided for in the METs Files, if you and Deutsche Bank have previously entered into a transaction of the same type, the Transaction will have the terms set forth in the most recent transaction of the same type that you and Deutsche Bank entered into, subject to any oral and/or written communication in respect of the Transaction between you and Deutsche Bank.

  4. If you and Deutsche Bank enter into a Transaction that is cleared through a clearinghouse, clearing agency or executed through a trading platform that prescribes the terms of the Transaction, the Transaction will have the terms specified by the applicable clearinghouse, clearing agency or trading platform and, subject to the rules of the clearinghouse or trading platform, any additional terms that you and Deutsche Bank expressly agree upon in connection with the Transaction.

  5. If you and Deutsche Bank enter into a Transaction for “give-up” to a third party as a prime brokerage arrangement, the terms of the Transaction will be subject to the terms of any agreement with that third party.

  6. By making this document available, Deutsche Bank is not indicating its willingness to enter into any Transaction with any counterparty on any terms. This METs File does not constitute an agreement, offer, a solicitation of an offer, or any advice or recommendation to conclude any transaction or confirmation thereof (whether on the terms shown or otherwise).

  7. Deutsche Bank providing this METs File to you does not guarantee its completeness or accuracy, make any representation or warranty with regard to it, or assume responsibility for losses or damages arising out of your use of the METs File.

  8. Deutsche Bank providing the METs File to you has not advised you as to the appropriateness of any particular use of the METs File, including in connection with internal financial or accounting determinations or in satisfaction of reporting obligations. You should consult with your auditors and other advisors you deem appropriate as to whether the METs File may be useful in connection with the preparation of your financial statements, shareholder or investor reporting documentation, or for any other purpose.

  9. Deutsche Bank providing the METs File to you is not acting in the capacity of your fiduciary, financial advisor or agent in providing the METs Files herein.

  10. The METS File is being provided via electronic means and Deutsche Bank shall not be held responsible for any corruption or alteration of the data during transmission to you.