Epstein File EFTA01461073: Deutsche Bank (DS10)

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Epstein File EFTA01461073: Deutsche Bank (DS10)

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Deutsche Bank economic analysis document containing charts and data on household, non-financial, financial, and government current accounts from 1999-2013, with analysis of current account surpluses and portfolio outflows. The document is marked confidential and references ECB data sources.

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Deutsche Bank

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PersonKeyword

Excerpt 1

140 2 120 1 100 0 80 -1 60 40 -2 20 -3 1999 2001 2003 2005 2007 2009 2011 2013 0 Households Non-financials Financials Government Current account Source **Deutsche**

Excerpt 2

**Bank**, ECB Source: **Deutsche** **Bank** ECB Surpluses recycled through record portfolio outflows The large current account surplus combined with ECB easing and

Excerpt 3

**Bank**, ECB Source **Deutsche** **Bank**, ECB **Deutsche** **Bank** AG/London Page 3 CONFIDENTIAL - PURSUANT TO FED.