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Konsolidierung des Landesbankensektors ist ein Muss für die zweite Regierung Merkel

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  • Dorothea Schäfer

Abstract

In 1989 a report has already highlighted the "below-average earnings potential" of the German Landesbanken and called for the merger of these state banks into a single central institution. However, 20 years later the bad bank law of Germany saved the ailing Landesbanken not only from write-downs of toxic assets, but also gives the state banks the option to escape possible consolidation efforts of the federal government by establishing a regional bad bank. Therefore, a reform of the German bad bank law is needed that puts the federal government into a position of being able to actively promote the consolidation of the regional Landesbanken. The reform should require from the Landesbanken to write down toxic securities to their market value and transfer them to a central bad bank run by the SoFFin, the German fund for restructuring ailing banks. The existing shareholders would then be charged with the losses from the bad investments. Thereafter, the remaining state banks could, under the pressure of the federal government be merged and recapitalized by the SoFFin, possibly in conjunction with the German savings banks. A similar procedure has allowed the Swedish banking system a rapid recovery from its crisis at the end of the 80s of the last century. The German government must at last give the restructuring of the public banking sector priority in its financial market policy. 1989 bereits wurde in einem Gutachten auf die "unterdurchschnittliche Ertragskraft" der Landesbanken verwiesen und der Zusammenschluss zu einem einzigen Spitzeninstitut gefordert. 20 Jahre später allerdings, inmitten der bislang schwersten Krise der Landesbanken, bewahrte das hiesige Bad-Bank-Gesetz die Landesbanken nicht nur weitgehend vor Wertberichtigungen, sondern eröffnet den Bundesländern auch noch den Ausweg, sich mit einer ländereigenen Bad Bank Konsolidierungsbemühungen des Bundes zu entziehen. Eine Reform des Bad-Bank-Gesetzes ist daher dringend notwendig. Die Bundesanstalt für Finanzmarktstabilisierung SoFFin muss in die Lage versetzt werden, die Konsolidierung der Landesbanken aktiv voranzutreiben. Die toxischen Papiere der Landesbanken sollten zwangsweise und mit starken Abschlägen in eine zentrale Bad Bank übernommen und die Altaktionäre mit den Verlusten aus den Fehlinvestitionen belastet werden können. Danach könnten die verbleibenden Restlandesbanken unter dem Druck des Bundes verschmolzen und anschließend durch den SoFFin, möglicherweise im Verbund mit den Sparkassen, rekapitalisiert werden. Eine analoge Verfahrensweise hat Ende der 80er Jahre dem schwedischen Bankensystem zu einer raschen Erholung verholfen und den Steuerzahler langfristig aus der Verlustzone geholt. Die Restrukturierung des öffentlichen Bankensektors muss endlich zu einer zentralen Aufgabe in der Finanzmarktpolitik der Bundesregierung gemacht werden.

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Bibliographic Info

Article provided by DIW Berlin, German Institute for Economic Research in its journal Vierteljahrshefte zur Wirtschaftsforschung.

Volume (Year): 79 (2010)
Issue (Month): 1 ()
Pages: 117-129

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Handle: RePEc:diw:diwvjh:79-1-8

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Keywords: Financial crisis; State Banks; Bad Bank;

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