Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 83

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 83
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IV banking organizations, including DB USA Corporation, and their depository institution subsidiaries to calculate risk-weighted assets under both the current standardized approach that also incorporates a new approach for market risk and a new, more risk sensitive, approach referred to as the “Expanded Risk-Based Approach”. Total risk-weighted assets under the Expanded Risk-Based Approach would include standardized approaches for credit risk, operational risk and credit valuation adjustment risk, as well as a new approach for market risk that would be based on internal models and standardized supervisory models. Under the proposal, DB USA Corporation and its depository institution subsidiaries would be subject to the lower of the two resulting capital ratios from the current standardized approach and the Expanded Risk-Based Approach. However, change in leadership at the U.S. federal banking agencies following the 2024 U.S. presidential election has made it uncertain if and when a final rule will be adopted, and if so, whether and to what extent it will differ from the NPR. As a result, the timing and content of any final rule, and the potential effects of any final rule on DB USA Corporation and its depository institution subsidiaries, remain uncertain. The Basel Committee on Banking Supervision made several announcements and consulted on several topics, including banks’ management of Counterparty Credit Risk (CCR). The final rules, if implemented by the bank’s supervisors, have the potential to change the procedures around Deutsche Bank’s CCR management.

| 51 |

| Deutsche Bank                   |
| Annual Report 2024 on Form 20-F |

Central Clearing Counterparties (CCPs)– Political negotiations on the European Commission’s proposal for a legislative package with respect to clearing services (the “Clearing Package”) were finalized in early February 2024 and following the adoption of the final text of the European Market Infrastructure Regulation (EMIR) by the Council on November 19, 2024, the amendments have become effective at the end of 2024 with phase-ins for certain requirements. The European Securities and Markets Authority (ESMA) has started consulting on more detailed Level 2 requirements, including on the requirement on financial and non-financial counterparties to open an active account at an EU CCP for certain derivative instruments and to clear a set number of representative trades which will become applicable six months after entry into force of EMIR 3.0. In terms of equivalence and recognition determinations for third country CCPs, there have not been major developments. For Indian CCPs, no Memorandum of Understanding (MoU) was signed between Indian and EU authorities