Real Estate Crisis Hits Two German Banks | Josef Pschorn on Deutsche Pfandbriefbank and Aareal Bank

Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more.

VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/

__

Follow VanEck on Twitter https://twitter.com/vaneck_us

Follow Jack Farley on Twitter https://twitter.com/JackFarley96

Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance

Follow Blockworks on Twitter https://twitter.com/Blockworks_

__

Use code FG10 to get 10% off Blockworks’ Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london

__

Timestamps:

(00:00) Introduction

(00:15) Background in Relative Value Credit

(02:25) Potential Trouble At Deutsche Pfandbrief Bank

(15:03) VanEck Ad

(15:45) Liability Structure of Deutsche Pfandbriefbank

(18:42) The Pfandbrief Market (Different Than Bank Known As "Deutsche Pfandbrief" AKA "PBB")

(21:56) Negative Marginal Net Interest Margin Is A Big Problem

(23:54) Why Josef Does Not Have A Trade On PBB - Insufficient Liquidity In Options Market

(25:23) Bail-in-ability of AT1 Debt

(29:59) How This Might Play Out

(32:47) Comparison To Greek And Spanish Banks

(35:06) Silver Lining: Long-Term Nature of Many of PBB's Liabilities

(40:21) Deposit Insurance In Germany & Europe

(43:05) How PBB Might (Possibly) Overcome The Challenges It Faces?

__

Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.