20/06/17

In Historic "Self Bail-In" A German Bank Just Canceled Interest Payments On Two Bonds [feedly]



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In Historic "Self Bail-In" A German Bank Just Canceled Interest Payments On Two Bonds
// Zero Hedge

One year ago, when Deutsche Bank was sliding on concerns about its bad loan book, Germany's Bremer Landesbank which at the time had €29 billion in assets, saw its bonds plunge overnight when concerns emerged about an imminent failure by the German lender.

Back then the worry was that the bank's extensive portfolio of nonperforming shipping loans would require either a bailout by a bank, with the name of majority owner NordLB cited, or a state rescue. It was a report by Germany's Handelsblatt that unleashed the selling, and fear of another European bank failure, after it said that a bailout may not come: "shipping loans have brought Bremer LB into distress and the ....

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