Sunday, Jan 18, 2009
The survey revealed that German banks possess 300 billion euros ($A592 billion) in toxic assets and
australian: German banks face billions more in losses: report
The survey revealed that German banks possess 300 billion euros ($A592 billion) in toxic assets and have so far only written off the most rotten, which represent a quarter of the total, the report said. "The remainder is still registered in accounts at illusory values," said Der Spiegel.
According to the magazine, government economic experts believe the remaining write-downs are considerable and could lead to "very heavy new losses for the banks".The finance ministry estimates the volume of assets at risk in the German banking sector to be in the region of one trillion euros ($A1.97 trillion) ,
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