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Use of stabilization
Use of stabilization funds in the financial market on 29 October 2008, the board of Hypo Real Estate announced in a press release that the contracts agreed on 6 October on rescue plan worth 50 million euro in financial consortium Deutsche Bundesbank and the Federal Ministry of Finance on the rescue plan would be administered by the company in mid-November 2008.Meanwhile, the needs of short-term liquidity secured by requesting financial stabilization funds (FMS stands for German Finanzmarktstabilisierungsfonds) that were granted by the German Bundestag and the Bundesrat since 17 October due to the crisis economic. On October 28, Deutsche Bundesbank accepted the surrender of a cr guarantee worth 15 million euros to solve liquidity emergencies. Finally, on 31 October 2008, was approved delivery of the cr application for Hypo Real Estate valued at 15 million euros as part of stabilization funds. In February 2009, this institution had received government aid valued at 52 billion.
