Our History

History of the Federal Republic of Germany - Finance Agency from its historical predecessors to the present.

The Financial Market Stabilisation Fund (FMS) successfully sells the remaining 3.5 per cent shareholding in pbb Deutsche Pfandbriefbank AG, thus further increasing the positive balance of the pbb reprivatisation. Pbb emerged from the restructuring of the former Hypo Real Estate Holding AG (HRE), after the latter had run into an existentially threatening situation in 2008 and had to be rescued by the FMS.

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