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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 1, 1998
BANKERS TRUST CORPORATION
(Exact name of registrant as specified in its charter)
NEW YORK
(State or other jurisdiction of incorporation)
1-5920 13-6180473
(Commission file number) (IRS employer identification no.)
130 LIBERTY STREET, NEW YORK, NEW YORK 10006
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (212) 250-2500
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Item 5. Other Events
(A) On September 1, 1998, Bankers Trust Corporation (the
"Registrant") announced certain financial information with
respect to its 1998 third quarter to date trading results. This
Current Report on Form 8-K files the press release which contains
certain financial information to be incorporated into currently
effective registration statements filed by the Registrant with
the Securities and Exchange Commission under the Securities Act
of 1933, as amended.
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Item 7. Financial Statements and Exhibits
(c) Exhibits
(99.1) Press Release of the Registrant dated
September 1, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, hereunto duly
authorized.
BANKERS TRUST CORPORATION
By /s/ DAVID C. FISHER
DAVID C. FISHER
Controller and Principal
Accounting Officer
September 1, 1998
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BANKERS TRUST CORPORATION
FORM 8-K DATED SEPTEMBER 1, 1998
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
(99.1) Press Release of the Registrant dated
September 1, 1998.
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BANKERS TRUST STATEMENT ON JULY - AUGUST RESULTS
Today Bankers Trust Corporation reported that its 1998 third
quarter to date trading result is a loss of approximately $350
million before taxes. This loss, which includes trading-
related net interest income and realized losses on securities
available for sale, is primarily attributable to charges to
reduce the carrying amount of Bankers Trust's exposure to
Russian Federation securities to 15% of face value.
In the third quarter to date, Bankers Trust has accrued a $100
million credit provision, primarily reflecting conditions in
Russia and Asia. Also in the third quarter, the Corporation
has charged $10 million to its credit loss allowance relating
to Russian assets through August.
At August 31, the Corporation's remaining Russian asset
exposure was approximately $350 million, of which one-half is
supported by cash flows generated in Western Europe.
The firm's unfavorable trading results also partially reflect
adverse conditions in the United States and other financial
markets. In addition, investment banking activity has
declined from recent levels, as many client financings have
been postponed due to volatility in global markets.
Based on the Corporation's results through August, Bankers
Trust expects to report a net loss for the third quarter.
Bankers Trust Corporation (NYSE: BT) is the seventh largest
U.S. bank holding company, with assets of over $170 billion
and total stockholders' equity of $5.5 billion as of June 30,
1998.
-End-
Press Contact
Doug Kidd, Bankers Trust, 212-250-7225
This report contains forward looking statements which are
subject to certain risks and uncertainties. These risks and
uncertainties could cause actual results to differ materially
from the current statements. See also "Important Factors
Relating to Forward Looking Statements" contained in the
Corporation's Annual Report.
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BANKERS TRUST CORPORATION
130 LIBERTY STREET
NEW YORK, NEW YORK 10006
David C. Fisher
Controller and Principal
Accounting Officer
September 1, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sirs:
Accompanying this letter is Bankers Trust Corporation's
report on Form 8-K dated September 1, 1998 (the "Form 8-K").
The Form 8-K is being filed electronically through the EDGAR
System.
If there are any questions or comments in connection with
the enclosed filing, please contact the undersigned at 212-250-
3681.
Very truly yours,
BANKERS TRUST CORPORATION
By: /S/ DAVID C. FISHER
DAVID C. FISHER
Controller and Principal
Accounting Officer
