SoFFin extended as Germany errs on the side of caution
The German government guarantee scheme, Sonderfonds Finanzmarktstabilisierung (SoFFin), has been extended to allow banks to issue guaranteed bonds up to the end of 2010 and in maturities up to the end of 2015.
The cost of using the guarantee and the amount allocated to its use (Eu400bn) remains the same.
With conditions as they are, anaylsts believe it unlikely that the extension will be used much, but applaud the decision to extend it.
The mood in this market is really, really extremely optimistic,
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