IKB draws liquidity on conduit, consolidates SIV as angst grips CP

IKB Deutsche Industriebank moved to contain its US subprime mortgage exposure this week, as it drew liquidity lines on its Rhineland asset backed commercial paper conduit and consolidated its Rhinebridge structured investment vehicle on to its balance sheet.

  • 10 Aug 2007
To repay maturing CP, Rhineland was forced on Wednesday to draw an undisclosed amount from its committed liquidity facilities, provided by F1+ rated banks. Since last week these have included KfW, the German state development bank, which replaced IKB as a liquidity provider after the bank’s own liquidity ...

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