Landesbanks face uncertain future as EC wins fight to end state guarantees

Germany’s Landesbanks were left contemplating a challenging future without the state support mechanisms of Anstaltslast and Gewährträgerhaftung this week, following an agreement between European competition commissioner Mario Monti and German state secretary for finance Caio Koch-Weser on Tuesday to phase out the two guarantees.

  • 20 Jul 2001
The agreement is a victory for the European Commission and Germany's private banks, which have long argued that with many of the Landesbanks increasingly engaging in commercial, rather than public sector activity, the guarantees offered the state banks an unfair funding advantage. Nikolaus Bömcke, secretary general of the ...

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All International Bonds

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1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

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1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

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1 JPMorgan 5,440.56 17 10.74%
2 Deutsche Bank 4,468.97 23 8.82%
3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%