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"There's really no balance sheet risk," Mr. Schmitz said.
Europe's biggest bank said in June that it planned to slash nearly one in five jobs and shrink its investment bank by a third in response to sluggish economic growth and tighter global regulation of bank balance sheet risk.
So there's balance sheet risk.
Technology is the most obvious intrinsic-value sector with no balance sheet risk.
And as a result, and this is key, it doesn't have the same balance sheet risk as other traditional lenders might have.
She sits on the major committees concerned with the firm's balance sheet, risk, credit and capital, and co-chairs the all-important finance committee.
Similar(44)
But Mr. Ackermann said Deutsche Bank had "reduced costs and balance sheet risks and strengthened our capital and liquidity base, all of which leaves us well-placed to confront near-term challenges".
The Commercial Banking segment includes the activities conducted by the network of bank branches offices for lending transactions, fund-raising, acceptance of off-balance sheet risks and the supply of financial services such as factoring and renting.
"Not only is the nominal valuation far too low, but because a significant portion of the purchase price would be in Charter stock, the actual value delivered to Time Warner Cable shareholders could be substantially lower given the valuation, operational, and significant balance sheet risks embedded in Charter's stock," Marcus added.
"When I sit with investors from the western world," he said, "they do a PowerPoint presentation about projections, cash-flows, profit and loss accounts, income statements, balance sheets, risk assessments and all these flamboyant graphs.
In effect, they have substituted fee businesses for balance-sheet risk.Special report The party's over Debt is good for you Bond blues A $250 billion gamble Shareholder value Called to account A hazardous journey Destructive creation ReprintsOr at least they have tried to do so.
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CEO of Professional Science Editing for Scientists @ prosciediting.com