Deutsche said to sell off some SSA swaps
Deutsche Bank has novated some of its SSA new issue swaps to a US bank, according to a source with knowledge of the situation, in a move which should help the bank stepping in to cut its risk position. The sale comes shortly after Deutsche said in a strategy update that it wants to improve its SSA operation.
Major SSA banks have been trading swaps portfolios with each other more extensively in recent years, as some firms have shut up shop entirely — UBS in 2012 and Credit Suisse in 2015 — while others have become more focused on compressing their balance sheets.
The peak of
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