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  "documentTitle": "Deutsche Bank Q4 2023 Fixed Income Call",
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  "notes": "Includes a bridge-style annotation showing a +1.0bn impact.",
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      "text": "Interest rate hedging offsets NII decline from non-interest-bearing deposits; Cumulative tailwind from interest rate hedges of € 1.0bn from 2023-2025; Average hedge portfolio duration of 4-5 years; >90% of hedge NII already locked in for 2024",
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