Search results for: “Greensill”
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Green Light for Greensill Was Legitimate
A Berlin rating agency remains as a scapegoat Now it is official: In the city of Mohnheim no failure of the administration could be determined before and in the insolvency of Greensill Bank in Bremen. The responsibility is put on the “investment grade” rating, which was issued by a local rating agency in Berlin. In…
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After Greensill, Scope Ratings Also Fails at UniCredit
A skipped coupon payment is not at all typical for a bank rated “A”.
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Two Are On The Supervisory Board Of Greensill Bank. Then Why Scope Ratings And Not GBB-Rating?
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
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…
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Lex Greensill’s Connecting Private Planes
Both born in the 1970s, a banker and an credit rating entrepreneur have a shared expensive passion.
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Scope Ratings’ Ancillary Services for Greensill Bank
Scope Ratings’ hint to possible additional payments by Greensill Bank to the Berlin rating agency leaves questions unanswered.
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Moody’s Has More Details About Greensill Bank and its Customers
The Federal Financial Supervisory Authority (BaFin) had issued a ban for Greensill Bank AG on disposals and payments as there is an imminent risk that the bank will become over-indebted. Beyond the bank, the effects must be examined.
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Information from the Hessian Ministry of the Interior on Investments and Deposit Protection in a New Light
On May 29, 2018, the Hessian Ministry of the Interior informed on investments and deposit protection in the State of Hesse, Germany. In the wake of the Greensill scandal, this legal framework is being given new life in many communities. The following article will therefore first explain the legal framework created in 2018 before examples…
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No Risk-Free Deposit World in this World
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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Which Rating Agencies the World is Looking for in Germany
Some surprising observations Many Internet users do not bother to memorize the exact domain of a website, but simply enter a clear keyword into the Google search engine in order to be able to simply click on the desired result and visit the desired website. The displayed search results are therefore of great importance for…
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Kickers Don’t Hit
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
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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Ilija Batljan’s Rating Shopping Spree
Are upgrades driven by improvements in creditworthiness or by hopping from agency to agency? The activities of self-made millionaire Ilija Batljan are too conspicuous to be ignored in the financial markets. Ilija Batljan came to Sweden from Montenegro. He moved to Sweden in 1993 during the breakup of his native Yugoslavia and in 1996 earned…
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Political Network Makes It Possible
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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Management Board of the Auditing Association of German Banks Changing
Former colleague of the later Greensill Bank Supervisory board member has left The Federal Association of German Banks (BdB) is drawing initial conclusions from the Greensill Bank‘s 3 billion euro compensation case. As the organization confirmed on request of the Börsen-Zeitung, it will analyze the structure of its auditing association and its staff with the…
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Does the Embellished Rating Cost Jobs on Bank Boards?
The rating of a local rating agency does not exempt you from the responsibility to form your own judgment
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First, ODDO BHF Takes the Chair, then the Scope Award
Conflicts of interest have arisen again at a local rating agency in Berlin.
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Some City Councilors Reproach the Use of Scope Ratings Instead of S&P’s and Moody’s
In the city parliament of Giessen, the processing of the affair about the threatened loss of financial investments at the Greensill Bank has begun.
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More Evidence on EY
Ernst & Young has been the focus of criticism in the Wirecard scandal since October 2020.
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Clever Commission from the City of Münster in Westphalia
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…
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Relatives Are Relative
The scandal with the Greensill Bank brings back earlier scandals by the same rating agency to mind. How close can relationships be without being a problem for the rating and for the rating agency? What degree of kinship could influence the independence of judgment? The story of the fund initiator Interlife Management GmbH seems like…
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Scope Ratings Game of Corporate Law
The “Scope Group” is a bunch of constant changes under company law. As a result of the Scope Ratings GmbH billion Euro scandal about Greensill Bank in Bermen, which was rated as “investment grade” for the first time in 2019 and is now insolvent, the precise activities of this local rating agency in Berlin have…
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RAG-Stiftung Must Have Known
Scope Group is not at all related to the transformation of the regions along the Ruhr and Saar Rivers and in Ibbenbüren.
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Why Scope Ratings Never Cares for Profits
The multi-layered shareholder structure allows for an ingenious business model.
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Once Advantages for Scope Shareholders, Now Disadvantages for German Banks
In Germany, the Greensill Bank is likely to be one of the most expensive cases ever.
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Do Not Confuse Moody’s with Scope Ratings
A bond fund rating is not a bank issuer rating.
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Unique Multi-layered Ownership Structure at Scope Ratings
In a week, the search queries for the Scope scandal have increased significantly.
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Scope Group Not Within the Scope of ESMA
The scandal surrounding Greensill Bank and the credit rating of Scope Ratings GmbH for this bank raises the question of how the situation at the Scope Group got out of control.
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Taxpayers Ultimately Become Victims of Scope Ratings
The Berlin rating agency Scope has top politicians on board who are already drawing high pensions. These politicians now indirectly cost the taxpayer even more.
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Questionable Top of the Scope Pyramid
More details are becoming known about the recent bank and corporate failures in Germany.
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Moratorium at the Bremen CRR credit institution
Bank is closed due to lack of evidence of the existence of receivables in its balance sheet.
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