COREALCREDIT BANK AG
COREALCREDIT BANK AG: Minimum over-collateralisation adjusted for public sector Pfandbriefe in line with improved quality of collateral pool
COREALCREDIT BANK AG / Miscellaneous 27.11.2009 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Frankfurt/Main, 27 November 2009 COREALCREDIT BANK AG is to reduce its voluntary commitment to hold a nominal over-collateralisation in its public sector pool from 6% to 5% as at 4 January 2010. This takes into account the high quality of the assets in the collateral pool. The adjustment will be made as part of a regular review of its voluntary public commitments, into which it entered for the first time on 1 February 2007. In recent years, the Bank has significantly scaled back and structurally optimised its public sector collateral pool as Pfandbriefe have matured. The remaining assets in the collateral pool are of a high quality; furthermore, the residual times to maturity of public sector Pfandbriefe and public sector covering assets have been brought more closely into line. This positive trend is now also reflected in the adjustment that the Bank will make to its voluntary commitment and increases its room for manoeuvre in its core business, commercial real estate financing in Germany. No other changes will be made to any other over-collateralisation and liquidity criteria announced as part of the Bank's voluntary public commitment, in particular with respect to the voluntary over-collateralisation for mortgage Pfandbriefe of 13%. In future, COREALCREDIT BANK AG will maintain and continue to build on the high quality of its collateral pools as part of its collateral pool management process. The volume of public sector Pfandbriefe in circulation is currently EUR 2.3 billion, backed by a collateral pool of EUR 2.5 billion. When the Bank first entered into a voluntary commitment on 1 February 2007, the volume of public sector Pfandbriefe in circulation was still EUR 15.8 billion, while the volume of the collateral pool was EUR 17.2 billion. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Please find a register of all listed securities of COREALCREDIT BANK AG on our website http://www.corealcredit.de/upload/wertpapiere/Wertpapierliste.pdf Contact: Axel Leupold Telefon: +49-(0)69-7179 543 Telefax: +49-(0)69-27179 543 axel.leupold@corealcredit.de 27.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: COREALCREDIT BANK AG Grüneburgweg 58-62 60322 Frankfurt am Main Deutschland Phone: 069 / 7179 - 543 Fax: 069 / 27179 - 543 E-mail: axel.leupold@corealcredit.de Internet: www.corealcredit.de ISIN: DE0008002874, DE0005169734, DE0005169759, DE0008103037, DE0008103045, DE0008103078, DE0008103094 WKN: 800287 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Stuttgart, Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
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