Epstein Secrets

h Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head Principal Locations Deutsche Bank AG London Tel: Deuts Frankfurt 60272 Frankfurt am Main German Deutsche Bank Dubai Dubai International Financial Centre . tjox Dubai City Tel: Publication Address: Deutsche

the growth of EM holdings Figure 2: Mature market (MM) reserves have grown only modestly reflecting valuation & interest Source: FRB, Census, BEA, DB Global Markets Research Source: FRB, Census, BEA, DB Global Markets Research Figure 3: Many countries report the currency composition of reserves to the IMF, which publis

ities & differentiated offering Key Client Partners point of access: Deutsche Asset & Wealth Management (DeAWM) London New York Geneva / Zurich Frankfurt Corporate Banking & Securities (CB&S) Global Transaction Banking (GTB) Singapore 3rd Party KCP capabilities KCP clients Specialty and boutique

rperformed by only 2.1% during periods of JPY strength with a return / vol of 3.1 and -0.2, respectively — Risks: Max loss — 100% of notional (1) DB Global Markets Research: Japan Data Flash 08/13/14 (2) For additional detail on basket holdings please see Appendix. DB Global Markets Research: Synthetic Equity & Index S

ropean Commission's proposal would apply to the euro currency and eurodenominated products. The ECB, which issues euro currency, is established in Frankfurt, one of the participating member states. If it were, the FTT would have far reaching effects across global financial markets given the euro's statu

the growth of EM holdings Figure 2: Mature market (MM) reserves have grown only modestly reflecting valuation & interest Source: FRB, Census, BEA, DB Global Markets Research Source: FRB, Census, BEA, DB Global Markets Research Figure 3: Many countries report the currency composition of reserves to the IMF, which publis