Work has started after the German Federal Cabinet passed its draft of the Bad Bank Act. The intention is to relieve the banks from toxic assets in nine steps, but the next monster is already lurking: the consolidation bank.
June 18, 2009 at 04:41 AM
1 minute read
The original version of this story was published on Legalweek
With the draft of the Bad Bank Act the German Government is taking creative steps to relieve the banks of their toxic assets and stabilise the German economy. Klaus Grossmann and Jacqui Hatfield compare the German solution with the UK’s own asset protection scheme
Work has started after the German Federal Cabinet passed its draft of the Bad Bank Act. The intention is to relieve the banks from toxic assets in nine steps, but the next monster is already lurking: the consolidation bank.
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