Financial Regulatory Forum

EU Commission throws WestLB aid, bad bank into doubt

By Reuters Staff
December 22, 2009

BRUSSELS, Dec 22 (Reuters) – The European Commission said it doubts that WestLB’s plans to set up Germany’s first “bad bank” complies with EU rules on state aid, granting only temporary clearance for the rescue plan.

WestLB to shift 87 billion euros to first German bad bank

By Reuters Staff
October 7, 2009

The headquarters of WestLB is pictured before the annual news conference in Duesseldorf March 26, 2009. REUTERS/Ina Fassbender (GERMANY BUSINESS HEADSHOT) By Jonathan Gould and Matthias Inverardi
FRANKFURT/DUESSELDORF, Oct 7 (Reuters) – Germany’s WestLB will jettison at least 87 billion euros ($128 billion) in risky assets to the country’s first “bad bank”, a move other lenders are likely to follow.