by Calculated Risk on 4/29/2008 09:36:00 AM

From the WSJ: Deutsche Bank Swings to Loss On Write-Downs, Trading Loss

The bank marked down assets by a net €2.7 billion for the quarter. The write-downs included around €1.77 billion on leveraged finance loans and loan commitments and €885 million on commercial real-estate and residential mortgage-backed securities, including Alt-A mortgages, which are a step above subprime quality.
...
"In the month of March, pressure on the banking sector was more intense than at any time since the current credit downturn began. Inevitably, this left its mark on Deutsche Bank's results," said Chief Executive Josef Ackermann.

Another visit to the confessional. March was clearly a very difficult month for banks and many retailers.