The Local Germany

German court settles cases over rescued bank HRE

Sat, 30 Sep 2017 12:07:44 +0200

A court on Friday settled cases against executives of the bank that was Germany's biggest casualty of the 2008-2009 financial crisis.

Bad bank lost €10 billion last year, more to come

Tue, 03 Jul 2012 16:53:00 +0200

German tax payers will face a bill of nearly €10 billion for the state-owned HRE “bad bank” to cover last year’s losses alone, while further billion-euro losses are expected this year.

Bad bank finds €56 bln after checking sums

Sat, 29 Oct 2011 12:20:00 +0200

German national debt has been slashed by nearly €56 billion at a stroke, after the books were checked at the ‘bad bank’ of the nationalised Hypo Real Estate (HRE).

EU watchdog airs 'doubts' about HRE after approving more aid

Fri, 24 Sep 2010 17:34:00 +0200

Europe's top competition watchdog on Friday expressed "doubts" about the long-term viability of troubled German bank Hypo Real Estate, while granting temporary approval for ongoing state support.

Another €2.08 billion pumped into HRE bank

Wed, 22 Sep 2010 18:47:00 +0200

Germany will pump another €2.08 billion ($2.79 billion) into the troubled bank Hypo Real Estate, the financial market stabilisation fund SoFFin said Wednesday in a statement.

HRE bonus payments a 'scandal,' taxpayers' group says

Mon, 20 Sep 2010 11:02:00 +0200

Germany’s taxpayers’ association (BdSt) on Monday attacked generous bonus payments for bankers at the nationalised Hypo Real Estate bank, calling them a “scandal.”

German banks in focus as stress test release looms

Thu, 22 Jul 2010 13:18:00 +0200

Investors will comb through the results of stress tests on state-owned German banks this week for signs of trouble in the heart of Europe's biggest economy.

HRE investors outraged as 'fat cat' banker sues

Thu, 06 May 2010 15:12:00 +0200

Investors in one of Germany's biggest casualties of the banking crisis cried foul on Thursday as the former head of Hypo Real Estate sued for millions of euros (dollars) in lost salary and pension benefits.

Hypo Real Estate needs five years to pay off state aid

Mon, 05 Oct 2009 17:30:00 +0200

Troubled German property financier Hypo Real Estate (Hypo RE) will need until 2015 to repay about €100 billion of state aid, chief executive Axel Wieandt said Monday.

Merkel aims to strengthen Bafin bank regulator

Fri, 07 Aug 2009 19:46:00 +0200

German Chancellor Angela Merkel would give the nation's banking supervisor extensive powers over struggling banks, including the capacity to dismiss executives, the Financial Times reported on Friday.

HRE may need more state cash

Sun, 19 Jul 2009 14:59:00 +0200

The beleaguered state and property financier Hypo Real Estate may need more state aid than previously expected, a report in Sunday newspaper Welt am Sonntag revealed.

Hypo Real Estate posts major first-quarter loss

Tue, 05 May 2009 11:36:00 +0200

German bank Hypo Real Estate (HRE) posted on Tuesday a first quarter loss of €382 million euros ($511 million) as the state pursued its bid to nationalise the troubled property lender.

US investor Flowers rejects Berlin's HRE takeover offer

Thu, 30 Apr 2009 13:27:00 +0200

US investor Christopher Flowers, who heads a consortium owning almost a quarter of Hypo Real Estate (HRE), has refused an offer by the German government to buy the shares to nationalise the troubled mortgage lender.

Berlin launches Hypo Real Estate takeover

Thu, 09 Apr 2009 11:03:00 +0200

The German government launched a takeover of troubled Hypo Real Estate bank on Thursday with the aim of stabilising the financial markets as the worst recession since the 1930s sets in.

Germany adopts emergency bank nationalisation law

Fri, 03 Apr 2009 17:28:00 +0200

Germany adopted a highly controversial emergency law on Friday allowing the government to nationalise stricken banks by seizing investors' shares if necessary.

Berlin backs Hypo Real Estate bank privatisation bill

Fri, 20 Mar 2009 17:20:00 +0100

German deputies on Friday approved a first reading of legislation that could lead to a nationalisation of the Hypo Real Estate bank and the expropriation of US shareholder Christopher Flowers.

US investor sets price for Hypo Real Estate nationalisation

Fri, 20 Feb 2009 11:15:00 +0100

The US investor Christopher Flowers, a key shareholder in the troubled bank Hypo Real Estate, said Friday he expected to get about three euros per share for his holding if the bank is nationalised.

Merkel says nationalising Hypo Real Estate bank an option

Mon, 16 Feb 2009 09:00:00 +0100

German Chancellor Angela Merkel said she had not ruled out nationalising the troubled Hypo Real Estate (HRE) bank as a last resort, during a television interview on Sunday evening.

HRE bank gets €12 bln more in guarantees

Wed, 21 Jan 2009 09:35:00 +0100

The German state will provide another €12 billion ($15 billion) in guarantees to struggling Hypo Real Estate bank, bringing the total to €42 billion, HRE announced late Tuesday evening.