Savings banks prepare: crisis in the North of LB is coming to a head

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    In the savings banks Finance group rules nervous tension, when it comes to the location of the North German Landesbank. Some of the officials to keep already free on Sundays in February from dates – you can expect to be expected this time of crisis meetings. Because the Situation of the Norddeutsche Landesbank in Hannover is coming to a head.

    Christian Müßgens

    economic correspondent in Hamburg.

    F. A. Z.

    Hanno Mußler

    editor in the economy.

    F. A. Z.

    Currently, the Nord LB and your carrier, all the Land of lower Saxony to negotiate with up to three financial investors via a share. Cerberus, Centerbridge and Apollo, but as a cool calculator, and time is running out for you. The Bank supervision is of the essence, the NordLB has to fill in the first quarter, a capital gap of Reportedly at least 3.5 billion euros.

    the NordLB to the support case?

    The EU Commission is demanding that part of the capital injection comes in the public law Institute of new owners. Commerzbank flagged, the Landesbank Hessen-Thüringen (Helaba) has withdrawn. Only the three financial investors are in the race. Who has, in the end, always the nose in front: they will probably make their offerings to the condition that the Alteigner balance sheet risks of the Northern shield LB, such as a part of the rotten ship loans of around 7.3 billion euros. Say: you should apply for the case, guarantees that the loans burst.

    you must prepare all the German savings banks financial group. Because the Nord LB is the fourth-largest German Landesbank. A full risk shield would do little without the handle in the liability Fund for the entire savings banks Finance group. NordLB is to support the case?

    the carrying value of the investments at zero?

    to let The Bank go under, seems to be no Option, because the savings banks in the North-East have created in the Nord LB a lot of money. Because their deposits are higher than loans that you can forgive. Meanwhile, the savings banks in lower Saxony, which is a good 26 percent of the Landesbank belong to respond, apparently poor prospects of the Nord LB.

    As reported in the “Börsen-Zeitung”, do you want to write off the book value over the savings banks Association of lower Saxony shares held in the accounts for the year 2018 to zero. For the institutions this means a high load. Because it seems to be more than 400 million euros.