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...The total number of banks considered systemically important has fallen due to the merger of German lenders WGZ Bank and DZ Bank and the restructuring of State Street Bank Luxembourg and RFS Holding, said...
...It comes after several previous efforts to combine DZ Bank and WGZ Bank ended in failure....
...… Union Investment Founded 1956 Assets under management €232bn (as at end of 2014) Employees 2,500 Headquarters Frankfurt am Main, Germany Ownership Owned by cooperative central banks DZ Bank and WGZ...
...These were HSH Nordbank, whose common equity tier one ratio fell to 4.8 per cent in the adverse scenario, WGZ Bank at 4.6 per cent, DZ Bank at 4.9 per cent and Muenchener Hypo at 2.9 per cent – not accounting...
...“The market is expecting another round of asset purchases and it will come,” said Matthias Jasper, head of equities at WGZ Bank AG....
...Furthermore, Düsseldorf-based WGZ, a central bank for Germany’s local mutuals, may in time merge with DZ Bank, its larger, Frankfurt-based counterpart....
...Likewise, local mutuals – most with only a few hundred million euros of assets – give business to, and partly own, DZ and WGZ, two bigger “central banks” for the sector....
...With seven additional Landesbanks, officials expected high street bank Postbank, co-op banks DZ and WGZ, and specialist lenders HRE, Aareal and IKB to join the enlarged group....
...Alongside seven additional Landesbanken, officials expected high-street bank Postbank, co-op banks DZ and WGZ, and specialist lenders HRE, Aareal and IKB to join the enlarged group – although changes were...
...All but seven banks – including six Germans (Deutsche Bank, Postbank, DZ, WGZ, Hypo Real Estate and Landesbank Berlin) – published full details....
...But six of the 14 German banks tested – Deutsche Bank, Postbank, Hypo Real Estate, mutual groups DZ and WGZ, and Landesbank Berlin – did not publish the expected detailed breakdown of sovereign debt holdings...
...All six of them – Postbank, Deutsche Bank, WGZ, DZ, Hypo and Landesbank Berlin — did however, eventually unveil their holdings a few days later....
...Plans to merge DZ and WGZ foundered during the crisis....
...DZ said there would be no change to plans for a merger with WGZ Bank, a smaller counterpart, to create a unified co-operative “central bank” and holding company for other mutual institutions....
...Separately DZ Bank and WGZ Bank, which provide central banking services to Germany’s big co-operative banking sector, said they were reviving merger talks....
...They include searches for new investors by WestLB and BayernLB, two Landesbanks; the likely merger of DZ Bank and WGZ bank, the two biggest co-operative institutions; Citigroup’s decision to sell its consumer...
...DZ Bank AG is, in turn, the principle shareholder of Union Asset Management Holding AG (along with WGZ Bank AG the central co-operative bank in the Rheinland and Westfalen areas)....
...investment bank, suddenly shot to the top of the Eurofirst 300 winners list after news that its biggest shareholder, Group Banque Populaire had unveiled a partnership with two German banks, DZ Bank and WGZ...
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