EX-99.D 2 d345227dex99d.htm EXHIBIT (D)
http://www.sec.gov/Archives/edgar/data/821533/000119312512223946/d345227dex99d.htm
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/04/DB%20Total%20Derivative%20Exposure%20Dec%2031%202013.jpg
This description of KfW and the Federal Republic of Germany is dated May 10, 2012 and appears as Exhibit (d) to the Annual Report on Form 18-K of KfW for the fiscal year ended December 31, 2011.
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http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/04/DB%20Total%20Derivative%20Exposure%20Dec%2031%202013.jpg
The Elephant In The Room: Deutsche Bank's $75 Trillion In Derivatives Is 20 Times Greater Than German GDP
The number in question? €54,652,083,000,000 which, converted into USD at the current exchange rate, amounts to $75,718,274,913,180. Which is over $5 trillion more than JPM's total derivative holdings.
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