82 million euros at the insolvent Greensill Bank

A bankruptcy that had little to do with Corona: The Bremer private bank Greensill is part of a collapsed financial conglomerate.
Image: dpa

All in all, municipalities in Hesse have invested 82 million euros in the insolvent Greensill Bank, including Eschborn, Wiesbaden, Gießen and Schwalbach. You have to continue to worry about the money.

D.he cities and municipalities in Hesse have invested a total of 82 million euros in the insolvent Greensill Bank. This was announced by the Hessian Ministry of the Interior in Wiesbaden in response to a parliamentary request from the FDP parliamentary group on March 11 in the state parliament. The municipalities have to fear for their money.

Eschborn transferred the largest share with 35 million euros in the Main-Taunus district, followed by Schwalbach am Taunus with 19 million, Wiesbaden with 15 million, Gießen with ten million, Hanau with two million and Schauenburg in the Kassel district with one million euros. Counties have not invested any funds in the bank.

Private investors already compensated

The Greensill Bank had advertised with low interest rates with attractive conditions, with high savings rates on overnight and fixed-term deposits. The financial supervisory authority Bafin closed the Bremer Bank in March, shortly afterwards the district court in the Hanseatic city opened insolvency proceedings, and the public prosecutor’s office was also investigating.

The vast majority of private investors have already been compensated, but the situation is different for municipalities that are not subject to deposit insurance. The ministry made it clear: A municipality must prevent this danger through “independent risk management”.


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