Posts tagged 'Deutsche Pfandbriefe Bank'

A German bad bank, a collateral switch

Hypo Real Estate — the nationalised German bank and the only one to have failed this summer’s stress tests — passed a(nother) milestone earlier this month.

It transferred assets worth a nominal €173bn to FMS Wertmanagement (FMSW) — the big bad bank set up by the German state earlier this year specifically to take on non-strategic assets and ‘risk positions’ from Hypo. The plan is for the government-guaranteed FMSW to eventually be wound down over the course of 10 years. Read more

Peripheral Pfandbriefe

More on those potentially riskante Pfandbriefe — this time from Barclays Capital.

Analysts of the German covered bond note that questions over Pfandbriefe’s exposure to European peripherals — places like Greece, Spain and Portugal — have increased in recent weeks along with sovereign jitters. And so, BarCap’s Leef Dierks and Fritz Engelhard have done some number-crunching. Read more

How to borrow €1bn without adding to your public debt figures

Something tells us the story of Greece’s €1bn currency swap — and particularly the involvement of a bank everyone loves to hate, Goldman Sachs — is going to run and run.

Therefore we are going to republish a large chunk of the original 2003 story from Risk, which has now been unlocked and can be read in full hereRead more