Translated Announcement On German Short Selling Ban
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Here is the translated announcement from German's Federal Financial Supervisory Authority (BanFin) on naked short selling:
BaFin banned naked short selling and naked CDS on government bonds in the euro zone
The Federal Financial Supervisory Authority ( BaFin ) has on Tuesday naked short sales of debt securities by euro zone countries, the domestic stock exchange for trading in the regulated market are admitted to a prohibited temporarily. it has also temporarily banned so-called credit default swaps ( CDS ), where the reference obligation and a liability of a state of the euro zone is at least, and they do not serve to hedge against default risk (uncovered CDS ).
In addition, the added BaFin naked short sales of shares of the following companies in the financial sector prohibited:
AAREAL BANK AG
ALLIANZ SE
COMMERZBANK AG
GERMAN BANK AG
GERMAN EXCHANGE AG
GERMAN Postbank AG
GENERALI HOLDING Germany AG
HANNOVER REINSURANCE AG
MLP AG
Munich Reinsurance Company AG
These prohibitions apply from 19 May 2010, 00:00 clock, 31 March 2011, 24:00 Clock, and will be reviewed.
BaFin banned naked short selling and naked CDS on government bonds in the euro zone
The Federal Financial Supervisory Authority ( BaFin ) has on Tuesday naked short sales of debt securities by euro zone countries, the domestic stock exchange for trading in the regulated market are admitted to a prohibited temporarily. it has also temporarily banned so-called credit default swaps ( CDS ), where the reference obligation and a liability of a state of the euro zone is at least, and they do not serve to hedge against default risk (uncovered CDS ).
In addition, the added BaFin naked short sales of shares of the following companies in the financial sector prohibited:
AAREAL BANK AG
ALLIANZ SE
COMMERZBANK AG
GERMAN BANK AG
GERMAN EXCHANGE AG
GERMAN Postbank AG
GENERALI HOLDING Germany AG
HANNOVER REINSURANCE AG
MLP AG
Munich Reinsurance Company AG
These prohibitions apply from 19 May 2010, 00:00 clock, 31 March 2011, 24:00 Clock, and will be reviewed.
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