Pension funds invited for banking rescue talks
NETHERLANDS - A group of pension funds and insurers have today taken part in talks between banks and the Dutch ministry of finance about a €200bn guarantee scheme for the Dutch banking sector.
IPE understands a number of large, though unnamed, funds and insurers attended the talks in the Hague today.
According to Dutch media reports, the talks were designed to better enable banks to issue bonds by letting the Dutch state guarantee their redemption with a €200bn guarantee scheme.
Gerard Riemen, director of the Dutch association of industry-wide pension funds, commented he knew of the talks though said he could not name which pension funds were involved.
A lack of trust has caused investors such as pension funds to become reluctant to buy unsecured debt securities of banks.