Deutsche Bank headquarters is photographed in Frankfurt, Germany, Friday, June 1, 2018. (AP Photo/Michael Probst)
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The European Central Bank's move to defend Deutsche Bank Friday stems from concern over a sharp fall in the German lender's share price but also irritation that overseas regulators risk aggravating its problems. A rare comment by a supervisory source that Deutsche Bank was making good progress and its regulators were reassured by its plans helped calm investor nerves, but also exposed a potential rift between the ECB and its U.S. counterparts.The Fed, which is due to publish the results of its annual stress tests of banks including overseas entities with a U.S. presence such as Deutsche Bank this month, declined to comment.Deutsche Bank has long had differences of opinion with U.S. regulators over issues such as how much capital it should hold at its U.S. subsidiary, which has traditionally carried out some of the bank's riskiest trading business.Despite Friday's reassurances, ECB supervisors say Deutsche Bank has still some way to go before returning to rude health, after three consecutive years of losses.
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