A 28 billion-euro ($35 billion) payments error at Deutsche Bank AG in March wasn’t the first such blunder to befall the lender.
In March 2014, the German bank mistakenly sent 21 billion euros to Macquarie Group Ltd. as collateral for an over-the-counter derivatives trade, according to a person familiar with the matter who declined to be identified. That incident led directly to the introduction of fail-safes, though these didn’t catch the latest gaffe, the person said.
A Deutsche Bank spokesman confirmed the error, but declined to comment further. Macquarie Group declined to comment.
In both cases, the errant transfers were quickly spotted and the money returned, with no financial harm done. But the disclosure shows the scope of Deutsche Bank’s struggle with…
