Ex-Deutsche Bank staff say bank hid $12bn losses Complaints to regulators including the US Securities and Exchange Commission (SEC) said that Deutsche Bank misvalued a large position in derivatives structures known as leveraged super senior trades, the Financial Times reports this morning, citing people familiar with the submissions. The report said this improper accounting allowed the bank to misrepresent its capital position and avoid a government bailout. "The allegations of financial misstatements, which are more than two and one-half years old and were publicly reported in June 2011, have been the subject of a careful and thorough investigation, and they are wholly unfounded," Renee Calabro, a spokeswoman at Deutsche Bank, told Reuters in an email. She dismissed the report last night, saying that all "valuations and financial reporting were proper."