BERLIN (MNI) – The German state-owned lender Hypo Real Estate (HRE)
has given back about E23.5 billion of loan guarantees by the
government’s Financial Market Stabilisation Fund (Soffin), driving down
the total volume of guarantees to around E100.5 billion, HRE said
Monday.
The remaining E100.5 billion in guarantees are to be phased out
gradually by the middle of next year at the latest, the bank said.
The HRE recently transferred some E173 billion worth of risky and
non-strategic assets to the newly founded clearing institute FMS
Wertmanagement (FMSW).
–Berlin bureau: +49-30-22620580; email: twidder@marketnews.com
[TOPICS: M$X$$$,M$G$$$,MGX$$$]
