Thailand Suspends Deutsche Bank Primary Dealer Repo Permit

Thailand’s central bank dropped Deutsche Bank AG from its list of primary dealers for repurchase agreements in May, limiting the lender’s scope to trade government bonds in Southeast Asia’s second-largest economy.

Germany’s biggest lender had its permit suspended in the latest annual review owing to a regulatory infringement, according to a Bank of Thailand official, who asked not to be identified because he’s not authorized to speak on the matter. Michael West, Deutsche Bank’s Hong Kong-based spokesman, said the bank ceased to take part in bilateral repos with the Bank of Thailand from April and declined to give a reason for the change.