Which authority is recorded against Greensill Bank AG (Bremen)?

The entry is recorded against BaFin, in the Germany jurisdiction, under the theme Supply-chain finance · deposit protection.

What is the current status of this entry?

Status: Moratorium, then insolvency. Last recorded change: 16 March 2021. The matter arose or was first recorded on 3 March 2021.

How was this matter brought to light?

Supervisory forensic audit. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.

Where can the primary sources for DE-2021-01 be checked?

The entry links to BaFin — moratorium on Greensill Bank, 3 March 2021; Reuters — insolvency proceedings opened, 16 March 2021.

DE-2021-01 · Germany · 2021

BaFin closes Greensill Bank and files a criminal complaint over its balance sheet

The German supervisor imposed a moratorium on the Bremen bank, barred it from making payments, and filed a criminal complaint with the Bremen prosecutor in connection with the bank's accounting. Insolvency proceedings followed.

German banking towers at dusk, illustrating the Greensill Bank closure — Illustrative image · Greensill Bank AG (Bremen)

Institution: Greensill Bank AG (Bremen)
Authority: BaFin
Status: Moratorium, then insolvency
Theme: Supply-chain finance · deposit protection
Raised by: Supervisory forensic audit
Jurisdiction: Germany
Matter arose: 3 March 2021
Last recorded: 16 March 2021
Amount: Deposits of about EUR 3bn covered by protection schemes

What the sources record

BaFin ordered the moratorium on 3 March 2021 after a forensic audit into the bank's receivables portfolio.

The supervisor stated it had filed a criminal complaint concerning balance-sheet manipulation.

The Bremen court opened insolvency proceedings on 16 March 2021; the deposit protection scheme was triggered.

Timeline

2021-03-03
BaFin imposes a moratorium and files a criminal complaint.
2021-03-16
Insolvency proceedings opened in Bremen.

Primary sources

Questions and answers on this entry

What does register entry DE-2021-01 record?: BaFin closes Greensill Bank and files a criminal complaint over its balance sheet. The German supervisor imposed a moratorium on the Bremen bank, barred it from making payments, and filed a criminal complaint with the Bremen prosecutor in connection with the bank's accounting. Insolvency proceedings followed.
Which authority is recorded against Greensill Bank AG (Bremen)?: The entry is recorded against BaFin, in the Germany jurisdiction, under the theme Supply-chain finance · deposit protection.
What is the current status of this entry?: Status: Moratorium, then insolvency. Last recorded change: 16 March 2021. The matter arose or was first recorded on 3 March 2021.
How was this matter brought to light?: Supervisory forensic audit. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.
Where can the primary sources for DE-2021-01 be checked?: The entry links to BaFin — moratorium on Greensill Bank, 3 March 2021; Reuters — insolvency proceedings opened, 16 March 2021.

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