Bundesbank Warns German Banks To Expect At Least 50% Losses On Austrian “Black Swan”
by Tyler Durden
ZeroHedge.com
04/12/2015
In a critical disclosure this past Friday which quietly flew under everyone’s radar, the Bundesbank director responsible for bank supervision, Andreas Dombret, who is also a member of the board of the European Central Bank’s Single Supervisory Mechanism told Bloomberg in an interview in Johannesburg that “German banks should expect to lose at least half of their investments in bonds of Austrian bad bank Heta Asset Resolution AG and make the appropriate provisions… I think this situation has to be taken seriously by the German banks… if I were to put a number on this I would say it should be a minimum of a 50 percent provision for potential losses.”
The Rest…HERE