First German ‘Bad Bank’ Opens

15 Dec 2009

The German government has opened its first bad bank to hold toxic assets from troubled lenders.

The German government has opened its first bad bank to hold toxic assets from troubled lenders. Officially known as an “unwinding institute,” the new entity’s first deposits will come from WestLB, which is looking to unload some €85 billion ($124 billion). Eventually the German lender will offload a ...

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