PIIGS exposure of individual German banks

It was a little bit inconvenient because I had to gather the data from twelve different PDF documents  published by Bundesbank, but I think it was worth the effort: Here is a consolidated table of the exposure of the 12 most important German banks towards government bonds from the crisis counties Portugal, Ireland, Italy, Greece and Spain. (Update: In the meantime, I produced a similar table for all 90 banks.)

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(complete table on Google Docs)

A comparison to the numbers published in the aggregate summary published by EBA is quite interesting. EBA says that German banks hold 9% of all Greek government bonds owned by banks in the EU which in total add up to 98.2 bn Euro. 0,09*98.2 equals 8.8 bn. However, if you add up the bank-level data published by Bundesbank, the exposure to Greece only equals 7,9 bn Euro.

I double checked my data, they seem to be accurate. I wonder if the difference between those two numbers can be explained by the fact that Helaba bowed out of the stress tests. If the Helaba data is still included in the aggregate results, this means they roughly hold Greek government bonds of 0,9 billion Euros.

Update: The difference it not due to Helaba but to different ways of computing the exposure for individual banks and the EAD, as EBA has pointed out to me. )

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11 Comments

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11 Responses to PIIGS exposure of individual German banks

  1. Pingback: Handelsblatt.com - PIIGS-Exposure der einzelnen deutschen Banken « Handelsblog

  2. jmg

    Helaba claims against Greek government: 64 Milllion Euros
    There remains a difference.
    LINK:
    http://www.helaba.de/de/Presse/Stresstest

  3. Top work Olaf und thank you very much for this calculation.

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  6. sidiji

    spain at 60% debt to gdp ratio a pig? yah right, fair is fair, spain is as safe as it gets in the modern world….and US at 100% debt to gdp? japan 225%? fair is fair

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