Traduction de «Lb » (Anglais → Français) :

My persistent focus on improving financial supervision stems not only from my finance ministry background, but also from training in financial and management accounting while I studied at LBS.

Sachsen LB Europe plc (hereinafter called Sachsen LB Europe) was a wholly owned subsidiary of Sachsen LB and was based in Dublin.

The beneficiary is Sachsen LB. The shareholders of Sachsen LB were the Free State of Saxony (around 37 %) and Sachsen-Finanzgruppe (hereinafter called SFG), a holding company linking eight Saxony savings banks with the cross-regional Sachsen LB (around 63 %), which is itself owned by local authorities (77,6 %) and the Free State of Saxony (22,4 %).

Concerning the observations of the third party Germany argued that the guarantee granted to the Super SIV did not constitute state aid because, even including the potential liabilities stemming from the EUR 2,75 billion guarantee granted to the Super SIV, the owners of Sachsen LB had still sold the bank for an overall positive price, and that the contribution from LBBW to Sachsen LB’s 2007 results as well as the EUR 250 million prepayment had been considered by LBBW to be part of the sales price and therefore the sales price paid by LBBW to the owners reflected the market price of the bank. Germany stressed that, apart from the EUR 391 m ...[+++]illion contribution from LBBW to Sachsen LB’s 2007 results, no other loss compensation had been paid.

Since the losses in Sachsen LB’s structured finance portfolio would have implied a further decrease in Sachsen LB’s equity, approaching the minimum regulatory capital requirements, the shareholders of Sachsen LB had to find a sustainable solution for the bank.

Moreover, the plan indicates as an option by way of compensatory measures the closing down of the whole of Sachsen LB’s Dublin-based subsidiary (Sachsen LB Europe), which was in charge of developing and managing all of Sachsen LB’s internationally structured portfolios.