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Run On Banks Begins: Deutsche Bank Clients Begin Withdrawing Excess Cash

 
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10/01/2016 02:03 PM

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Run On Banks Begins: Deutsche Bank Clients Begin Withdrawing Excess Cash
As the Free Thought Project reported Thursday, the most prominent bank in Germany is at risk of failure, with potentially profound effects for the EU, the United States and likely the rest of the world. This risk of failure has now gotten so threatening that a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn excess cash and positions held at the lender, according to Bloomberg.

While the vast majority of the bank’s more than 200 derivatives-clearing clients have made no changes, the hedge funds run on cash highlights serious concern. The paranoia of an imminent collapse spread to the US on Thursday as 10 hedge funds that are Deutsche Bank clients have decided to withdraw cash and listed derivatives positions from the bank, according to a Bloomberg News report.

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