The Lower House of the German Parliament, the Bundestag, has approved a law which will reactivate a state rescue fund for struggling banks. The SoFFin fund is to provide up to 400 billion euros ($527 billion) in guarantees for cash-strapped banks and up to 80 million euros specifically for recapitalization needs. Following a string of stress tests in the sector, the European Banking Authority (EBA) had estimated that six major German banks needed to drum up an additional 13.1 billion euros to meet higher stock capital requirement.
The Lower House of the German Parliament, the Bundestag, has approved a law which will reactivate a state rescue fund for struggling banks. The SoFFin fund is to provide up to 400 billion euros ($527 billion) in guarantees for cash-strapped banks and up to 80 million euros specifically for recapitalization needs.
Following a string of stress tests in the sector, the European Banking Authority (EBA) had estimated that six major German banks needed to drum up an additional 13.1 billion euros to meet higher stock capital requirement.
they're going to keep doing it until we stop them.
italy's economy is melting down like a gelato in agosto. it's just a matter of time till the people rise up and throw the buffoon class out on its deaf ear. ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
