US Fed: Deutsche Bank USA fails 'stress test'

German banking giant Deutsche Bank's American operations failed the US Federal Reserve's annual stress test due to "widespread and critical deficiencies" in its risk management, the central bank said Thursday. The Fed gave a "conditional" pass to US investment behemoths Goldman Sachs and Morgan Stanley, even though their capital backstops sank below required levels, since that was due to one-time charges tied to December's tax cuts, officials said.

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