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WestLB to Become Germany's First 'Bad Bank.'.
- Source :
-
Wall Street Journal - Eastern Edition . 11/13/2009, Vol. 254 Issue 115, pC2. 0p. 1 Black and White Photograph. - Publication Year :
- 2009
-
Abstract
- The article reports on the plan of German government-controlled bank WestLB to sell 85 billion euros in assets from its balance sheet, as announced on November 12, 2009. The bank mentioned that healthy and toxic paper and other assets are included in the portfolio. The amount of risk guarantee received by the bank from its owners in 2008 is 4.8 billion euros. The rescue requires WestLB to sell assets and simplify its balance sheet as mandated by the European Commission.
- Subjects :
- *CORPORATE divestiture
*BANK assets
*FINANCIAL bailouts
*FINANCIAL statements
Subjects
Details
- Language :
- English
- ISSN :
- 00999660
- Volume :
- 254
- Issue :
- 115
- Database :
- Academic Search Index
- Journal :
- Wall Street Journal - Eastern Edition
- Publication Type :
- News
- Accession number :
- 45477636