Commerzbank talks with the federal government for information on financial and association circles for the third time within three years of government aid.

“Intensive talks” with the Federal Treasury were already running for more than a week, said five people familiar with the matter told Reuters on Monday. A decision had yet been made. The government is striving to have an agreement in principle before Christmas. Is most likely that the federal government of the bank under the arms, attack by the real estate financier Hypo € or parts thereof in a government “bad bank” takes over, it said in the circles.

The second largest German bank had already received in late 2008 and early 2009, capital injections totaling 18.2 billion euros from the state. More than 14 billion of which she had paid back in the summer. The bank rescue fund SoFFin is still a 25 percent stake in the bank. Now she is struggling to close a capital shortfall of 5.3 billion €, which has identified the EU banking supervision EBA with her. With a thicker cushion of capital the bank should be prepared to handle a tightening of the debt crisis in the EU. End of September, Commerzbank had € 13.6 billion of government bonds from countries in Southern Europe, the debt on their books – most of which lies in the Euro Hypo. On the bonds, Commerzbank had to write off billions of dollars recently.

“STATE AID” an elastic term

A Commerzbank spokesman stressed on Monday that Chief Financial Officer Eric Strutz utterances of. He had reiterated on Thursday: “We still have no plans to accept additional funds from public sources.” Also, Commerzbank chief Martin Blessing has ruled several times to let the bank rescue again with government funding, and tied his personal future in it.Whether this aversion might relate also to a “bad bank” for € Hypo is open.In such a solution would not flow money to Commerzbank. In banking circles it was last called, such a move could be designed as a “market solution”. Commerzbank has sold the mortgage to € at the behest of the EU until 2014 anyway, a private buyer is not in sight. According to earlier information from supervisory districts alone a sale of the mortgage of € parent company would bring in an equity-release of nearly five billion euros.

The bank regulators have until 20 January 2012, a plan to present how they can increase their capital base within six months by 5.3 billion €. She wants to raise € 3.3 billion through a reduction in loans to reduce its balance sheet and a buyback of hybrid securities. The Bank is working feverishly to raise the rest also, for instance with the expected gains to mid-2012. ”It’s frustrating. We have taken this year so much capital, and now we are back to square one.”

The federal government is preparing a new edition of the bank rescue fund SoFFin for systemically important banks, which include the Commerzbank.Government sources said the fund should be limited until end of 2012. The coalition is still controversial whether a forced capitalization of banks by the Financial Supervisory Authority should be possible. In the U.S., the major banks had been restored in the financial crisis in this way quickly and efficiently. Banks must not occur in this case as a petitioner. ”It is still spoken at ministerial level,” it said in the circles. The cabinet decision is expected no later than Wednesday.

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