ABS lifeline for German banks
German banks, hit by non-performing loans and the deteriorating financial environment, could soon see an upturn in their fortunes after moves were announced to set up a special-purpose vehicle (SPV) to securitise billions of euros of loans.
Commerzbank, Deutsche Bank, Dresdner Bank, DZ-Bank, HVB Group and the state-owned Kreditanstalt für Wiederaufbau (KfW) are to jointly form a company which will buy some of the five private banks’ loans and sell them to investors as asset-backed
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