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Germany's HRE gets more loan guarantees

Germany's HRE gets more loan guarantees

Nationalized German lender Hypo Real Estate Holding AG has been granted loan guarantees to the tune of up to another (EURO)40 billion ($51 billion) by the government's financial sector rescue fund.
The fund said Friday the extra guarantees were being granted to forestall any liquidity squeeze as HRE moves ahead with putting troubled assets into a so-called "bad bank."
That brings total loan guarantees granted the bank to (EURO)142 billion. In addition, the commercial property lender has received capital injections worth (EURO)7.7 billion.
Hypo Real Estate, the most prominent German victim of the financial crisis, was the only German lender to fail European stress tests in July. It plans to offload troubled assets nominally worth up to (EURO)210 billion into the "bad bank."


Updated : 2021-06-16 22:52 GMT+08:00