The Federal Reserve Bank of New York is reporting on the world’s largest single-institution bank, Deutsche Bank.
What’s fascinating about this report is that it’s not just about the bank, it’s also about the people who run it. Deutsche operates out of New York City and has the world’s 9th largest staff. It’s one of the top banks to hire its own staff, so it has an enormous staff to pull off all kinds of things.
The report also reveals that Deutsche has a rather strange approach to capital controls. The bank has to report about “risks to capital levels.” If they don’t, they go out of business. If they do, they make sure that they go over their margins. They even have a very strict reporting system and a very strict accounting policy, so that in the event of a crisis they can easily make sure that they don’t lose any money.
This is a fascinating read because the report is pretty technical, but it is also very funny at the same time. It has a lot to say about the culture at Deutsche Bank. I think it is safe to say that if the bank has been on the wrong side of capital controls, Deutsche is probably on the wrong side of capital controls as well.
As you could guess, the reporting procedures at Deutsche include a lot of accounting, but in other parts of the report they talk about a culture that is very much like the culture at the U.S. Federal Reserve. It is very much about the same issue of keeping the books current, and yet it is very different.
The Fed doesn’t make money, it just prints it. Deutsche is a bank, not a minting operation.
The US has a very different culture from the European Union, so it is no surprise that Deutsche has its own finance rules. However, unlike the US Fed, Deutsche pays its employees an annual bonus that is based on how long they’ve been working at the bank. Because of this bonus, many of the people at Deutsche are very, very good at their jobs. In fact, many of the people at Deutsche are considered the best of the best (not just at their jobs, but overall).
This is not an ad to start a flame war. Forcing your employees to work for you is an important part of making sure your bank is successful. It is also a good way to motivate good employees, so I am not going to start a flame war with you.
I have a personal experience with the bank, and it is not one that I have seen in many movies. I have spoken with people who have been on it at least once or twice. The bank is very good at managing their own employees, however, they do not have the necessary skills to manage their employees.
This is a story that I wrote in my book, and I’m telling it to you for laughs. While I enjoyed the book, a bit of a downer was when I read a story of a woman who worked for the bank and they wanted to fire her for no reason other than to get rid of the competition.