German Central Bank To Probe Hypo RE Unit’s Accounting Error

Germany’s central bank is planning to investigate the EUR55.5 billion ($76 billion) accounting error reported earlier this week by FMS Wertmanagement, Hypo RE’s bad bank.

  • 03 Nov 2011

Germany’s central bank is planning to investigate the EUR55.5 billion ($76 billion) accounting error reported earlier this week by FMS Wertmanagement, Hypo RE’s bad bank. WolfgangSchäuble, the country’s finance minister, said after meeting with executives of the bank that the error was merely a “misunderstanding.”

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