Tag Archives: german bank

German bank loses in court and must pay

HB STUTTGART. The Stuttgart Higher Regional Court with its ruling on Wednesday sealed the defeat for the German bank. The Water Board Mariatal had lost interest in business over half a million €.

The verdict to the detriment of Germany’s largest bank had already indicated after the hearing in late September. The civil court had then pointed out that the bank made mistakes and offered a highly speculative product has. The bank should have known that municipalities should not speculate with taxpayer money. A comparison failed.

The Court of Appeal changed from a decision of the Landgericht Ulm. The judges in Ulm had ruled in favor of the bank.

The Water Board Mariatal to the Ravens castle, the town and the vineyard and mountain communities Baienfurt involved had lost in so-called swap contracts 507 000 €. This will bet that the long-term interest rates rise more than short-term. The end of September it was said by the court, the business was based on "vague forecasts." The Water Board is for a risk of one million euros received. It was a "phenomenon" that municipalities would always conclude such agreements, which represented a "gamble".

The lawyer of the wastewater association, Peter Gundermann, said on Wednesday that the bank had wrongly advised. He was delighted with the decision.

Several Courts of Appeal had ruled in similar cases of swap agreements already in the financial giants. In the operations, many cities and its subsidiaries have bet that the long-term interest rates rise more than short-term.

The German bank, the product according to their own earlier statements no longer: to obscure is the trend of interest rates in recent years become.

Doubts about the solvency of U.S. banks grow

FRANKFURT rtr. The distrust of investors in the creditworthiness of Bank of America more expensive the insurance of a ten million dollar loan against default of the Institute by 8000 to 200,000 dollars, said the data provider with Markit. The CDS of competitors Citigroup and JP Morgan rose to 178 and 97 basis points. Holder of Wells Fargo had to hedge a ten-million-dollar loan to pay $ 133,000.

Parallel to the attractive CDS, and equity prices one of the four credit institutions between two and four percent. lost in the wake of declining prices of their U.S. competitors German Bank, UBS or Credit Suisse just under two percent.

Doubts about the solvency of U.S. banks grow

FRANKFURT rtr. The distrust of investors in the creditworthiness of Bank of America more expensive the insurance of a ten million dollar loan against default of the Institute by 8000 to 200,000 dollars, said the data provider with Markit. The CDS of competitors Citigroup and JP Morgan rose to 178 and 97 basis points. Holder of Wells Fargo had to hedge a ten-million-dollar loan to pay $ 133,000.

Parallel to the attractive CDS, and equity prices one of the four credit institutions between two and four percent. lost in the wake of declining prices of their U.S. competitors German Bank, UBS or Credit Suisse just under two percent.

Are dealing with forced evictions in USA nothing

HB FRANKFURT. As a spokesman for the institute said today, were for the recovery of the property known as servicer responsible – these are often specialist institutions, but also many U.S. banks. The German bank has granted the spokesman, and practically no lending directly to U.S. homeowners.

In recent days, inconsistencies in evictions of properties have been reported. Some members of Congress have subsequently called for a halt to these actions to recover in the bankruptcy case of its client banks, credit guarantees. Should it come to this, many U.S. banks threaten to sit on a mountain of bad loans to stay.

There are also potential lawsuits, evictions should not have run clean. The share prices of large U.S. banks are therefore strongly advised on Thursday under pressure. In the wake of the German bank on Friday fell by one percent, while the overall market grew.

The German bank and other banks are facing in the U.S. for selling mortgage-backed securities with lawsuits. It’s about whether the institution has adequately informed the buyers of the risks. As a seller, these structured documents, the German bank is also not involved in forced evictions, as the spokesman stressed.

Record IPO imminent

HB MUMBAI. The price range is 225-245 rupees has been set, said the Indian Coal Ministry on Tuesday. The listing is for the 4th November at the planned stock market in Mumbai. Coal India would be the seventh largest IPO in Asia this year. The Indian government wants to separate the next five years of state holdings in 60 companies to reduce the budget deficit and to increase funding for social programs.

The Indian government sold about 631 million shares, representing a ten percent share in the company. If the papers are placed at the upper end of the price range, Coal India would be valued at 35 billion dollars.

The issue price is 23 October should be established. The underwriting syndicate is sitting among others, the German bank. Experts expect a strong demand from institutional investors. Coal India was established in 1973. In fiscal year 2009/10, the Group recorded a net profit of 2.2 billion dollars.