imported>Boubloub: See also

2025-04-29T20:40:57Z

See also

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{{Short description|Socio-economic program in Germany}}
{{Use dmy dates|date=July 2023}}
[[File:SoFFin logo.svg|200px|right|SoFFin logo]]
The '''SoFFin''' (Sonderfonds Finanzmarktstabilisierung - Special Financial Market Stabilization Funds) is a program of the [[Cabinet of Germany|German government]] with the purpose to stabilize and restore confidence in the financial system. It was created during the [[2008 financial crisis]] on October 17, 2008 by the [[Bundestag|German Parliament]] and enacted on October 20, 2008.<ref>{{Cite news|url=https://www.spiegel.de/international/europe/fighting-the-financial-crisis-stocks-surge-as-eu-nations-unveil-bailout-packages-a-583739.html|title=Fighting the Financial Crisis: Stocks Surge As EU Nations Unveil Bailout Packages - DER SPIEGEL - International|first=DER|last=SPIEGEL|newspaper=Der Spiegel|date=13 October 2008 }}</ref> As of December 31, 2010, it stopped offering new services but continued managing existing guarantees.

In November 2011, it was announced that it would be revived for potential new issues if necessary.<ref>{{Cite web|url=https://www.bloomberg.com/businessweek/news/2011-11-14/germany-to-reactivate-soffin-bank-rescue-fund-asmussen-says.html|website=www.bloomberg.com |title=The Wayback Machine has not archived that URL.}}{{Dead Link |date=July 2023}}</ref>

Initially it was established as an agency of the [[Deutsche Bundesbank]] and was supervised by the [[Federal Ministry of Finance (Germany)|federal ministry of finance]]. The fund was managed by Dr. Hannes Rehm (speaker), Dr. Christopher Pleister and Gerhard Strattthaus.

Operations were conducted through three tasks:

* Providing Liquidity by means of guarantees for specially issued debt by eligible financial institutions
* Investing in Equity ([[recapitalization]])
* Purchasing securities in [[open market operation]]s

The SoFFin may grant guarantees of up to 400bn euros and recapitalize or purchase assets for an additional 80bn euros.

In January 2011 the SoFFin was reorganized under the then created German Agency for the Stabilization of the Financial Markets. Since the end of 2015, it has no longer been possible to apply for aid measures from it. Instead, the FMS manages the holdings that have existed since then and is endeavoring to reduce them. In its stabilization function, the FMS was replaced by the new [[Single Resolution Fund]] of the European [[bank resolution]] mechanism.<ref>{{Cite web |title=DIP |url=https://dip.bundestag.de/vorgang/.../16233 |access-date=2022-11-06 |website=dip.bundestag.de}}</ref> At the beginning of 2018, the Financial Market Stabilization Fund was integrated into the Federal Republic of Germany - Finance Agency [[GmbH]].<ref>{{Cite web |title=Not found |url=https://www.bundesfinanzministerium.de/SiteGlobals/ErrorPages/ErrorPage404.html |access-date=2023-07-01 |website=Bundesministerium der Finanzen |language=de |archive-date=2 November 2022 |archive-url=https://web.archive.org/web/20221102184928/https://www.bundesfinanzministerium.de/SiteGlobals/ErrorPages/ErrorPage404.html |url-status=dead }}</ref>

== SoFFin guaranteed issues <ref name="auto">{{cite web |url=http://www.soffin.de/de/soffin/leistungen/massnahmen-aktuell/index.html |title=Stabilisierungsmaßnahmen des SoFFin |accessdate=2010-04-14 |url-status=dead |archiveurl=https://web.archive.org/web/20100417031123/http://www.soffin.de/de/soffin/leistungen/massnahmen-aktuell/index.html |archivedate=2010-04-17 }}</ref> ==

{| class="wikitable"
! Issuer
! Issue Date
! ISIN
! Amount Issued [€]
! Coupon
! Maturity
|-
| HYPO REAL ESTATE||11/13/2008||DE000A0XXY00
|align="right"|15,000,000,000||0.726||12/23/2009
|-
| COMMERZBANK AG||1/15/2009||DE000CB896A7
|align="right"|5,000,000,000||2.75||1/13/2012
|-
| HSH NORDBANK AG||1/20/2009||DE000HSH2539
|align="right"|3,000,000,000||2.75||1/20/2012
|-
| BAYERISCHE LNDBK||1/23/2009||DE000BLB5N07
|align="right"|5,000,000,000||2.75||1/23/2012
|-
| IKB DEUT INDUSTR||1/28/2009||DE000A0SMN03
|align="right"|2,000,000,000||2.875||1/27/2012
|-
| SDB-SICHERUNGS||2/5/2009||DE000A0AD7F4
|align="right"|447,000,000||1.02||2/3/2012
|-
| SDB-SICHERUNGS||2/5/2009||DE000A0AD7G2
|align="right"|223,000,000||1.02||2/3/2012
|-
| DUESSELDORF HYP||3/13/2009||DE000DUS1S07
|align="right"|125,000,000||0.978||3/12/2010
|-
| DUESSELDORF HYP||3/13/2009||DE000DUS2S06
|align="right"|125,000,000||1.031||3/11/2011
|-
| IKB DEUT INDUSTR||3/13/2009||DE000A0SMN45
|align="right"|2,000,000,000||2.625||3/13/2012
|-
| AAREAL BANK AG||3/26/2009||DE000AAR0041
|align="right"|2,000,000,000||2.625||3/26/2012
|-
| IKB DEUT INDUSTR||4/30/2009||DE000A0SMN52
|align="right"|1,000,000,000||2.25||4/29/2011
|-
| HSH NORDBANK AG||5/11/2009||DE000HSH27X2
|align="right"|3,000,000,000||2||5/11/2011
|-
| HYPO REAL ESTATE||5/14/2009||DE000A0XFP11
|align="right"|5,000,000||0.683||5/15/2011
|-
| COREALCREDIT||6/2/2009||DE000A0BVBN3
|align="right"|1,000,000||1.225||6/1/2011
|-
| HYPO REAL ESTATE||6/3/2009||DE000A0XFP29
|align="right"|5,000,000||1.124||6/4/2012
|-
| HYPO REAL ESTATE||6/12/2009||DE000A0Z1J14
|align="right"|5,000,000,000||3.772||6/12/2014
|-
| COREALCREDIT||7/13/2009||DE000A0BVBQ6
|align="right"|1,000,000||2.02||7/13/2011
|-
| HSH NORDBANK AG||7/23/2009||DE000HSH29Z3
|align="right"|3,000,000,000||2.25||7/23/2012
|-
| IKB DEUT INDUSTR||9/10/2009||DE000A0SMN60
|align="right"|2,000,000,000||2.125||9/10/2012
|-
| COREALCREDIT||10/16/2009||DE000A0BVBW4
|align="right"|15,000,000||0.823||10/4/2011
|-
| COREALCREDIT||11/2/2009||DE000A0BVBX2
|align="right"|15,000,000||0.872||11/2/2011
|-
| DT PFANDBRIEFBAN||11/11/2009||DE000A1A6PM3
|align="right"|5,000,000,000||0.768||6/30/2010
|-
| DT PFANDBRIEFBAN||11/11/2009||DE000A1A6PL5
|align="right"|5,000,000,000||0.768||6/30/2010
|-
| DT PFANDBRIEFBAN||11/11/2009||DE000A1A6PN1
|align="right"|5,000,000,000||0.768||6/30/2010
|}

== SoFFin Equity recapitalizations <ref name="auto"/> ==

{| class="wikitable"
! Institution
! contracted amount [€]
|-
|| [[Aareal Bank|Aareal Bank AG]]
| align="right" | 380,000,000
|-
|| [[Commerzbank|Commerzbank AG]]
| align="right" | 18,200,000,000
|-
|| [[Hypo Real Estate Holding|Hypo Real Estate Holding AG]]
| align="right" |7,700,000,000
|-
|| [[WestLB|WestLB AG]]
| align="right" |3,000,000,000
|}

==See also==
* [[Liquidity Consortium Bank]]

== References ==

<references/>

==External links==
{{Portal|Banks}}
*{{in lang|de|en}} [http://www.soffin.de/ Official site of the SoFFin]

[[Category:Banking in Germany]]
[[Category:German economic policy]]
[[Category:Great Recession]]
[[Category:2008 establishments in Germany]]
[[Category:2018 mergers and acquisitions]]

SoFFin - Revision history

imported>Boubloub: See also