Following the transfer of assets on 1 October 2010 from HRE to FMS Wertmanagement, the opposing SoFFin-guaranteed securities issued by HRE for raising liquidity were transferred to FMS Wertmanagement at a total volume of around EUR 124 bn. Guarantees were returned from this already in October in the amount of EUR 23.5 bn. These guarantees were available for possible liquidity bottlenecks before and during the transaction. The remaining SoFFin guarantees for HRE issuances that are still with FMS Wertmanagement after the completion of above mentioned return, totalling EUR 53.48 bn, are to be gradually returned by no later than mid next year and replaced by FMS Wertmanagement issuances without SoFFin guarantees.

“With this reduction in SoFFin guarantees we have more than halved the total volume of the SoFFin guarantee scope. We are delighted that this has happened more quickly than originally intended. We will continue to concentrate on the successful development of FMS Wertmanagement and do everything in our power to speedily drive forward our portfolio management and refinancing activities”, explains Ernst-Albrecht Brockhaus, member of FMS Wertmanagement’s executive board.