Financial Market Stabilisation

Financial Market Stabilisation Fund (FMS)

The Financial Market Stabilisation Fund (Sonderfonds Finanzmarktstabilisierung, FMS also known as SoFFin) comprises the Federal Government's share of Commerzbank AG, Hypo Real Estate Holding GmbH and Portigon AG.

 

As at 31 December 2017 there were capital measures of about € 14.6 bn :

Institution Signed contracts in € bn
15.6 % of Commerzbank AG 5.1
Portigon AG 2.0

Hypo Real Estate Holding AG

thereof
HRE Gruppe incl. payments to existing shareholders
Depfa
FMS Wertmanagement

7.6


2.7
1.2
3.7

Cumulative payments to wind-down agencies required for loss compensation obligations in € bn:

FMS Wertmanagement

thereof impairments recognised in relation to the Greece portfolio

9.3                                                                  

8.9

Rounding errors might occur.

The Financial Market Stabilisation Fund was created amid the financial crisis on 17 October 2008 in order to stabilise the financial market. Accoring to article 110 paragraph 1 of the German Constition it is a special fund of the Federal Government. Since its inception FMS was managed by the Federal Agency for Financial Market Stabilisation (Bundesanstalt für Finanzmarktstabilisierung – FMSA), and requesting its support and measures initially had been limited till  31 December 2010. By the Second and Third Financial Market Stabilisation Law this limited was prolonged till 2012 and subsequently till 2014. After the final extension of the application deadline for new capital measures by the European Bank Recovery and Resolution Directive (BRRD) implementation act till year-end 2015, it was no longer possible to access support from the fund. On 1 January 2018 Finance Agency was entrusted with the management of the special fund FMS that it was already funding since its creation.

Press releases of FMS from 2008 - 2017 at www.fmsa.de
Press releases of FMS / Finance Agency since 2018