These were paper / model-based losses, i.e., they were for derivatives whose value dropped during the financial crisis, but whose value went back up after the c

These were paper / model-based losses, i.e., they were for derivatives whose value dropped during the financial crisis, but whose value went back up after the crisis. Because they were illiquid and not traded during the crisis, these losses were never actually realized. See http://dealbreaker.com/2012/12/deutsche-bank-ignored-some-losses-until-they-went-away/ http://dealbreaker.com/2012/12/deutsche-bank-ignored-some-lo...