Bundesbank may need recapitalisation to cover bond-buying losses - FT
by Germany's federal audit office as saying possible Bundesbank losses were substantial and could required recapitalisation of the bank with budgetary funds.
The Bundesbank said its balance sheet would probably be considerably burdened in the future by the rapid and strong rise in interest rates in connection with large bond holdings. In 2023, the financial buffers would probably still be sufficient, it said. After that, the burdens could temporarily exceed the buffers.
However, it said that would not necessarily cause a need for recapitalisation by the federal government. Instead, the Bundesbank would report losses carried forward, which it could offset with future profits. Even in the case of a loss carry-forward, the Bundesbank's balance sheet would be sound, it said, adding it had considerable own funds, including valuation reserves.
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