Examples of HSH Nordbank in a sentence
Similarly, the Commission approached restructuring aid to another German bank HSH Nordbank in the light of a commitment to reduce its balance sheet size by 61% compared to pre-crisis levels by exiting certain business lines.
This also includes the owning savings banks of LBBW and HSH Nordbank as they show their first losses only in November 2008.
This is the point in time when the owners (savings banks) are likely to have first seen potential consequences of these losses.11 Landesbank Baden-Württemberg (LBBW) and HSH Nordbank were the final two Landesbanken that publicly announced losses from the U.S. subprime market, however only in November 2008 and thus after the end of the sample period.
Table 1 shows that savings banks own a substantial share of their 2 Only recently, outside investors as for example private equity firms (such as J.C. Flowers in HSH Nordbank) became owners of Landesbanken as well.respective Landesbanken.
HSH Nordbank AG (“ HSH”) HSH has filed an action against UBS in New York State court relating to USD 500 million of notes acquired by HSH in a synthetic CDO transaction known as North Street Referenced Linked Notes, 2002-4 Limited (“NS4”).
This was the view of the Hamburg government in 2013, when it asked the legislature to approve an in- crease in the government’s second-loss guarantee for HSH Nordbank from 7 billion to 10 billion euro.
See for example the case made in 2013 by the German government to justify renewed support for HSH Nordbank.
The Restructuring Unit consists of the internal unit established by the Bank to manage the winding down of all of its portfolios, business areas and equity investments that do not fit within the business strategy of HSH Nordbank AG or that it was required to cease in accordance with undertakings and conditions imposed by the EU Commission in state aid proceedings resulting from the financial assistance received by HSH Nordbank AG in 2009.
In addition, HSH Nordbank AG also conducts private banking for entrepreneurs and high-net worth individuals and serves as a partner to the German savings bank association (Deutscher Sparkassen- und Giroverband), an association of German savings banks (Sparkassen).
On an international scale, HSH Nordbank AG focuses on the corporate clients of its Shipping and Energy & Infrastructure units by offering various financial products and services related to structured financings, foreign trade financings, payment transactions, commodity, currency and interest rate hedging products, M&A consultancy as well as other private banking products for corporate clients.