The run on Deutsche Bank does not surprise me. All the banks, big and small, are hit by rapidly increasing lending rates. The bigger the bank, the bigger the loss on their sovereign bonds. They bought them when interest rate was low, now the rate on their borrowing is higher than what the premium on their sovereign bonds bring, so they chalk up very big losses. As the loss on bonds is paper loss, they don't have to show it on their balance sheets, hence the suspicion that they intentionally hide huge losses. Fear and the vultures move in.