2019 CCAR results: Message from Christian Sewing to staff

Dear Colleagues,

This afternoon, the Federal Reserve published results of its 2019 Comprehensive Capital Analysis and Review (CCAR) for DB USA Corporation (DBUSA). Our main regulator in the US did not object to the DBUSA capital plan on a quantitative or qualitative basis.

This is excellent news. Achieving success here was one of the key goals we set a year ago. And it is a huge step forward for our business in the US and globally. A strong operating platform in the Americas is essential to our clients.

What does this result demonstrate?

First of all, it reflects our commitment to establishing a close and trusting working relationship with our regulators to ensure Deutsche Bank has a strong and resilient business.

Second, we knew that it would take a real team effort to succeed – and we did just that. Colleagues from numerous departments and offices worked tirelessly to support our core US team around Tom Patrick and Eric Smith. This clearly shows that we can achieve the goals we set for ourselves if we work as a team. Thank you for this.

Let’s keep working in this spirit. While this is a great step forward, we know that we must improve further, and we are absolutely committed to this.

But for now, congratulations to all of you on a job well done.

Yours Sincerely,

Christian