The restructuring would see Deutsche Bank’s main US subsidiary, Taunus Corp, change the legal status, which under its current structure, would fall short of capital standards under the landmark Dodd-Frank financial reform legislation.
Under the plan, presented to the Federal Reserve last year, its banking unit Deutsche Bank Trust Corp would be moved out of Taunus and become a direct subsidiary of Deutsche Bank.
While, Deutsche Bank’s investment-banking business and several other nonbanking entities would continue to reside in Taunus.
Taunus had $373bn in assets at the end of 2010, according to the Fed. The new structure would not change the bank’s regulatory oversight in the US.
