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German Banks' Subprime Mortgage And Structured Vehicle Exposure Concerns Are Overstated Sep 07 Product Image

German Banks' Subprime Mortgage And Structured Vehicle Exposure Concerns Are Overstated Sep 07

  • ID: 1711100
  • September 2007
  • Region: Germany
  • Standard & Poors

FEATURED COMPANIES

  • Bayerische Landesbank
  • Commerzbank AG
  • Deutsche Postbank AG
  • Dresdner Bank AG
  • HSH Nordbank AG
  • Sachsen Bank
  • MORE

Abstract
In light of the U.S. subprime mortgage market disruption and the near failures of Germany-based IKB (never rated by Standard & Poor's Ratings Services) and Landesbank Sachsen Girozentrale (SachsenLB; BBB+/Developing/A-2), market uncertainty has increased. Investors remain particularly concerned about German banks' exposures to U.S. subprime mortgages and their liquidity facilities granted to structured vehicles. Standard & Poor's continues to be in regular contact with its rated banks, has analyzed these exposures, and has discussed updated reports on liquidity management and stress testing. Based on this analysis, we consider that credit risk in the German banking sector from U.S. subprime mortgage exposures is limited as it is generally concentrated in the 'AAA' and 'AA' rated tranches and we consider the potential...

Companies mentioned in this report are:
- Dresdner Bank AG
- Landesbank Hessen-Thueringen Girozentrale
- Norddeutsche Landesbank Girozentrale (Unsolicited Ratings)
- Portigon AG (Unsolicited Ratings)
- Bayerische Landesbank
- Commerzbank AG
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- UniCredit Bank AG
- Landesbank READ MORE >

- Dresdner Bank AG
- Landesbank Hessen-Thueringen Girozentrale
- Norddeutsche Landesbank Girozentrale (Unsolicited Ratings)
- Portigon AG (Unsolicited Ratings)
- Bayerische Landesbank
- Commerzbank AG
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- UniCredit Bank AG
- Landesbank Baden-Wuerttemberg
- Sachsen Bank
- Deutsche Postbank AG
- HSH Nordbank AG

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