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Two Are On The Supervisory Board Of Greensill Bank. Then Why Scope Ratings And Not GBB-Rating?

Agencies

A Complicated Choice Between Conflicts of Interest. The rating of an independent credit rating agency is a valuable source of information also for the supervisory board of a company, especially for the supervisory board of a bank. The thoroughness of the analysis by credit rating analysts helps to understand the external view onto the company…

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Scope’s Greensill Bank Rating Tragedy

Agencies, Authorities, Governance, Read, Regulations

The Federal Financial Supervisory Authority (BaFin) filed criminal charges Against The Bank’s Board Members. The Federal Financial Supervisory Authority (BaFin) in Germany received monthly reports from Greensill Bank AG (Greensill Bank) about the bank’s balance sheet data from January 2019 on. This is evident from the answer given by Parliamentary State Secretary Sarah Ryglewski on…

No Risk-Free Deposit World In This World

Repairs

Dr. Tamaz Georgadze comments in the renowned “Börsen-Zeitung” on the “Causa Greensill“ Deposit platforms such as the German “WeltSparen” and “Zinspilot” are among the most important innovations in banking: Customers get more choice and can benefit from higher interest rates from other banks. Deposit-taking banks efficiently diversify the sources of their customer liquidity, which contributes…

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Kickers Don’t Hit

Agencies

URA Research GmbH is once again coming up with new insights into bonds. After reviewing and analyzing the financial reports published in 2021, the URA ratings for 13 bonds were confirmed. For 2 bonds (FC Schalke 04 III and Katjes III) the assessment has deteriorated. The 4th bond from Schalke 04 and the 1st bond…

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Ernst & Young No Longer Has Any Equity On Its Balance Sheet

Agencies

Auditors have been making double-digit million losses for years. At Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft (EY) in Germany, “equity” is on the assets side, namely as a “deficit not covered by equity” in the amount of € 62,715,000. The provisions, liabilities, deferred income as well as deferred taxes and fiduciary obligations exceed the company’s assets…

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Political Network Makes It Possible

Auditors

Berlin network of politicians, raters and auditors. “Wirecard illusion factory only conceivable through political network”, is a quote from the Cicero, the German magazine for political culture. The members of the committee of inquiry have an unequivocal answer to this. The Christian Democratic Union (CDU) sees Finance Minister Olaf Scholz at the center of the…

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Clever Commission From the City of Münster in Westphalia

Agencies, Analysts, Authorities, Experts

An automated safety net for municipal investments has not existed since 2017. If municipalities do not want to set up extensive bond research departments themselves, in which financial analysts examine thousands of qualitative data and annual financial statements from issuers of financial products, the municipalities depend on the independent judgments of reliable credit rating agencies…