From: Stewart Oldfield [ Sent: 2/1/2017 1:47:23 PM To: Vahe Stepanian Subject: Re: DB deposits [CI Classification: Confidential Agreed. But je asked him to do the work on munis. So he has to do it. Stewart Oldfield, GA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Tel: Mo Ema Securities offered through Deutsche Bank Securities Inc. From: Vahe Stepanian Sent: Wednesday, February 01, 2017 01:15 PM To: Stewart Oldfield Subject: RE: DB deposits [C] Classification: Confidential I know the a/b structure pretty well, but will take another look at the TOBs. Think the focus should be the deposits — where Rich may actually have some influence... From: Stewart Oldfield Sent: Wednesday, February 01, 2017 12:57 PM To: Vahe Stepanian Subject: Re: DB deposits [C] Classification: Confidential 2:30 if that works for you. I can make 3 work as well. Let's make sure we know most of the muni structure. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Tel: Mo Em Securities offered through Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0072718 CONFIDENTIAL SDNY_GM_00218902 EFTA01376508