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Banking in Germany is a highly leveraged industry, as its average leverage ratio (assets divided by net worth) as of 11 October 2008 is 52 to 1 (while, in comparison, that of France is 28 to 1 and that of the United Kingdom is 24 to 1); its short-term liabilities are equal to 60% of the German GDP or 167% of its national debt.
The German public banking sector (German: Öffentliches Kreditwesen) represents a significant share of the broader banking sector in Germany. Unlike in most other Western and Central European countries, German public-sector banks have been present since the early phases of formalization of banking entities in the early modern period and have ...
Westdeutsche Landesbank was a prominent exemplar of the German Landesbanken before collapsing in 2007-2012. In German-speaking jurisdictions, Landesbank (plural Landesbanken), lit. ' bank of the Land ', refers to a category of public sector banks that are owned by one or more of the Länder (federated internally self-governing states).
The Ersparungsclasse der Allgemeinen Versorgungsanstalt, established in Hamburg in 1778, is widely viewed as the first modern savings bank.Other accounts emphasize the significance of the savings bank of Göttingen, founded in 1801, [3]: 78 which was the first established with a municipal guarantor whereas earlier foundations had been initiated by merchants, clerics or academics (Hamburg later ...
("for example"). Unlike English, which is moving away from periods in abbreviations in some style guides, the placement of capital letters and periods is important in German. [1] Acronyms are abbreviations consisting of initials of words in the original phrase, written without periods, and pronounced as if they were a single word.
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DZ Bank AG (German pronunciation: [deː ˈt͡sɛt baŋk aːɡeː] ⓘ) is the second largest bank in Germany by asset size and the central institution for around 700 cooperative banks and their around 7,200 branch offices. [3]
The Central Credit Committee was founded in 1932 as a common interest group of the five federal interest groups that represent the financial sector in Germany.. Until August 2011, the association was known as the Central Credit Committee [2] (German: Zentraler Kreditausschuss / ZKA) when it adopted a new name (after almost eighty years).