Posts tagged 'Deutsche Pfandbriefe Bank'

A German bad bank, a collateral switch

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Oct 28 2010 13:00 | Comment |

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

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Feb 23 2010 12:40 | Comment |

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

| Feb 15 2010 13:30 | Comment |

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 here. Read more