German "Hypo Real Estate" may be illiquid

[JoeSixpack]

So far i have not found a english link but it should be all over the place soon.

Problems said to originate form the sub Depfa which is deep in mortgage hell has lost access to the funding markets and now needs to be covered by the Holding.

[D-Mack]

Re: German "Hypo Real Estate" may be illiquid

They were active on the Irish market.

edit:

German mortgage bank near bankruptcy: report

1 hour ago

BERLIN (AFP) — Germany's Hypo Real Estate, a mortgage bank, is on the brink of bankruptcy, the daily Financial Times Deutschland reported in an advance copy of its Monday edition.

Private German banks have been trying "feverishly" to find a way to rescue the institution, which was already hit hard by the US subprime loan crisis that began in August 2007, the FTD said.

The report said the Munich-based bank, which is listed among Germany's 30 blue chip Dax companies, had fallen victim to speculation by its German-Irish unit Depfa.

FTD said Depfa had pursued long-term projects with heavy loans and generally ensured refinancing only at the last minute, which due to the current global credit crunch is no longer possible.


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http://afp.google.com/article/ALeqM5...FEWN8DD_EANTBw