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Germany Banking Group Sees High Participation in Greek Debt Swap

Feb. 21 (Bloomberg) -- The BdB Association of German Banks, which represents lenders including Deutsche Bank AG and Commerzbank AG, said it expects “numerous” bond holders to participate in the Greek debt swap.

The private creditors are making “an enormous contribution” to Greece and banks will have to first “shoulder” the burden, BdB Managing Director Michael Kemmer said in an e-mailed statement today. Still, many banks have been preparing for the debt restructuring for months and have already booked writedowns on their Greek government holdings, he said.

Link to Company News:{ARL GR <Equity> CN <GO>} Link to Company News:{DBK GR <Equity> CN <GO>} Link to Company News:{DPB GR <Equity> CN <GO>} Link to Company News:{TUB GR <Equity> CN <GO>} Link to Company News:{1066Z GR <Equity> CN <GO>} Link to Company News:{CBK GR <Equity> CN <GO>} Link to Company News:{HVM GR <Equity> CN <GO>}

To contact the editor responsible for this story: Aaron Kirchfeld at

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