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Hypo Real Estate gets more loan guarantees

Hypo Real Estate gets more loan guarantees

The German government's bank rescue fund says it is extending another (EURO)10 billion ($12.3 billion) in loan guarantees to nationalized lender Hypo Real Estate Holding AG in the wake of recent market turbulence.
The fund said Friday the move brings to (EURO)103.5 billion the total offered to the commercial property lender in loan guarantees.
Fund head Hannes Rehm said the extra guarantees were activated because of "the current market movements, so as not to endanger the ongoing restructuring of HRE under any circumstances."
Hypo Real Estate _ the most prominent German victim of the financial crisis _ ran into trouble in 2008.
The government completed its nationalization last year after intervening repeatedly with loan guarantees and capital injections.


Updated : 2021-03-05 22:31 GMT+08:00