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Entschädigungseinrichtung Deutscher Banken
The Deposit guarantee scheme of German banks (''Entschädigungseinrichtung deutscher Banken'' in German) is a private institution legally responsible for guaranteeing the deposits of account holders of German banks in accordance with domestic legislation and EU directives. It is 100% owned by the Federal association of German banks. Other voluntary schemes exist alongside the mandatory scheme. History The EdB was established on 24 August 1998 in compliance with the deposit and depositor protection law (EAEG). Since its establishment it has had to deal with several large scale compensations (IKB, Hypo Real Estate and Düsseldorfer Hypothekenbank). In 2008 the fund did not have enough assets to deal with the claims resulting from Lehman Brothers and the German state stepped in by providing a SoFFin guarantee, enabling the institution to raise 6.7 Billion Euros on the bond market. Purpose The institution is charged with guaranteeing the statutory 100,000 Euro per account holder and b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bundesverband Deutscher Banken
The ''Bundesverband deutscher Banken'' (BdB, also branded as Bankenverband and in English as Association of German Banks) is the representative body of profit-oriented banks in Germany and a key lobby group for Germany's financial sector. The BdB is a member of the German Banking Industry Committee that brings it together with its peers representing the other segments or "pillars" of German banking, namely the BVR for cooperative banks, the DSGV for savings banks, the VÖB mainly for public promotional banks, and VdP for specialized mortgage banks. The BdB is also a member of the European Banking Federation (EBF) together with the VÖB, Germany being the only country represented in the EBF by more than one member. History The BdB was founded in 1951 in Cologne as an Eingetragener Verein, succeeding the pre-war (1901-1945), which was based in Berlin. In 1999 it moved back to Berlin, while its the publishing subsidiary ''Bankverlag'' remained in Cologne. The association al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Düsseldorfer Hypothekenbank
The Düsseldorfer Hypothekenbank AG, also known as DüssHyp, is a mortgage bank based in Düsseldorf that specializes in government and real estate financing. (Until the mortgage bank law was abrogated, this term referred to a private law credit institution granting long-term loans secured by mortgages and loans to public authorities.) Refinancing takes place through issuing Covered bond, bonds via the capital market. The bank specializes in commercial real estate financing. It only engages in direct business to a limited extent; the focus is on syndicate business. History The institute was founded by the entrepreneur :de:Wolfgang Schuppli . As a consequence of the 2008 financial crisis, it was necessary for the deposit guarantee fund (:de:Einlagensicherungsfonds) of the Federal Association of German Banks (BdB) to take over the shares in 2008. It sold them in 2010 to LSF5 German Investments II, L.P. in Delaware, United States, USA (94%) and to LSF5 Riverside Ltd. & Co KG in Fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SoFFin
The SoFFin (Sonderfonds Finanzmarktstabilisierung - Special Financial Market Stabilization Funds) is a program of the Cabinet of Germany, German government with the purpose to stabilize and restore confidence in the financial system. It was created during the 2008 financial crisis on October 17, 2008 by the Bundestag, German Parliament and enacted on October 20, 2008. As of December 31, 2010, it stopped offering new services but continued managing existing guarantees. In November 2011, it was announced that it would be revived for potential new issues if necessary. Initially it was established as an agency of the Deutsche Bundesbank and was supervised by the Federal Ministry of Finance (Germany), federal ministry of finance. The fund was managed by Dr. Hannes Rehm (speaker), Dr. Christopher Pleister and Gerhard Strattthaus. Operations were conducted through three tasks: * Providing Liquidity by means of guarantees for specially issued debt by eligible financial institutions * I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Association Of German Banks
The ''Bundesverband deutscher Banken'' (BdB, also branded as Bankenverband and in English as Association of German Banks) is the representative body of profit-oriented banks in Germany and a key lobby group for Germany's financial sector. The BdB is a member of the German Banking Industry Committee that brings it together with its peers representing the other segments or "pillars" of German banking, namely the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, BVR for German Cooperative Financial Group, cooperative banks, the Deutscher Sparkassen- und Giroverband, DSGV for Sparkassen-Finanzgruppe, savings banks, the Bundesverband Öffentlicher Banken Deutschlands (VÖB), VÖB mainly for public promotional banks, and Verband deutscher Pfandbriefbanken, VdP for specialized mortgage banks. The BdB is also a member of the European Banking Federation (EBF) together with the VÖB, Germany being the only country represented in the EBF by more than one member. History The BdB ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Germany
Banking in Germany is a highly leveraged industry, as its average leverage ratio (assets divided by net worth) as of 11 October 2008 is 52 to 1 (while, in comparison, that of France is 28 to 1 and that of the United Kingdom is 24 to 1); its short-term liabilities are equal to 60% of the German GDP or 167% of its national debt. History From the 15th century, banking families such as Fugger, Welser and Hochstetter were international mercantile bankers and venture capitalists. The oldest bank still in existence in Germany, Berenberg Bank, was founded by Dutch brothers Hans and Paul Berenberg in 1590, is still owned by the Berenberg family, and is the world's oldest or second oldest bank, depending on the exact definition. Market overview Germany has universal banking. The private customer mostly has to choose between three kinds of banks (German "three pillar system"): # private banks (including direct banks): the largest ones are Deutsche Bank, Postbank (acquired by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
