Deutsche Bank CEO suggests finance watchdog-report

FRANKFURT, March 1 (Reuters) - A group of global experts monitoring the stability of financial markets might prevent a repeat of the U.S. subprime crisis, Josef Ackermann, the Chief Executive of Deutsche Bank (DBKGn.DE: Quote, Profile, Research) said on Saturday.

"I suggest thinking about an entirely new watchdog," he said in an interview due to appear in Der Spiegel magazine on Monday.

"(It could be) a group of wise men and women, who for example would observe within the framework of the International Monetary Fund (IMF) the development of financial markets and raise the alarm if there was any danger in sight."

Subprime mortgage losses accelerated some six to twelve months before exploding into a global credit market turmoil, Ackermann said.

"If twelve months earlier an unquestioned authority had warned: Go more slowly in this credit business and reassess the risks anew, certain things would have turned out differently," he said.

(Reporting by Vera Eckert, Editing by Peter Blackburn)