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German Bank-Rescue Fund to Post Loss in 2010, Handelsblatt Says

Dec. 7 (Bloomberg) -- Germany’s Soffin bank-rescue fund will probably post a loss in the billion-euro range for 2010 because of writedowns, Handelsblatt said, citing Florian Toncar, head of the parliamentary committee that supervises the fund.

It’s not currently clear whether the loss will be wider or narrower than 2009’s deficit, the newspaper said, citing Toncar.

Soffin reported a 2009 loss of 4.26 billion euros from the bailout of property lender Hypo Real Estate Holding AG.

Story link: {NSN LD26GZ6KLVRB<GO>}

To contact the editor responsible for this story: Jann Friedrich Bettinga at

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