For example, a constant watch needs to be kept on the business cycle, since a recession, for instance, would obviously have an impact on banks. It is particularly important to us that loans for German residential property do not turn into a new source of conflagration.
A model calculation reveals risks in the event of another severe recession in Germany comparable to the one in 2009. The calculation covered the years 2013 to 2015. It is mainly the 12 major German banks with an international focus which would be affected by this simulated economic downturn. They would be faced in particular with value adjustments and write-downs.