Mandate
FMS Wertmanagement (FMS-WM) is a wind-up institution organised as a public law entity. FMS-WM is mandated with liquidating a portfolio of risk positions and non-strategic assets that it assumed from Hypo Real Estate Group (HRE Group). FMS-WM aims to maximise the value of its portfolio by managing and liquidating it in a value-preserving manner over an extended period of time.

Achievement
Since the portfolio was transferred from the HRE Group on October 1, 2010 its original nominal value of EUR 175.7 billion was reduced to EUR 49.6 billion by the end of December 2022.

Guarantee
FMS-WM is wholly owned by the Financial Market Stabilisation Fund (FMS or SoFFin), a special pool of assets of the Federal Republic. FMS-WM’s obligations are backed by the full faith and credit of the Federal Republic. They benefit from a statutory guarantee of FMS and under FMS-WM’s charter, FMS is obligated to cover all losses.

Risk Weight & LCR
0% according to the CRD IV (Basel III) in both the Standardized and the IRB approach.
FMS Wertmanagement’s issues qualify for Level 1 (HQLA) assets under the Basel Accords.

Issuer Profile
FMS-WM has an outstanding volume of EUR 10.7 billion Capital Markets Funding and EUR 9.0 billion Money Market.
Funding (as at 31/12/2022). Funding activities aim exclusively at institutional Investors.