The “Record of Credit Compass 2017” published today shows exemplary credit behavior among German consumers. 98 percent of Germans therefore repay their loans without any problems.

 

98 percent of Germans can easily repay loans

98 percent of Germans can easily repay loans

The repayment rate of 18 to 19 year olds is 98.1 percent above average. 17.4 million current installment loans were evaluated for the study. In 2016, 7.7 million new contracts were concluded, roughly as much as in the previous year. However, the loan amount rose from an average of 9,552 dollars to 10,225 dollars. In addition to analyzing loans in Germany, credit record also presented the results of a Forma survey of more than 2, 100 Germans on their financial behavior. Result: 95 percent of those surveyed stated that they had a good overview of their own finances. Knowing well about financial matters would say 68 percent say they are, while one in three admits that they are unsure about money decisions. Classic financial institutions continue to enjoy great trust.

Almost 80 percent agree that banks will still find their customers in ten years’ time because they guarantee the highest level of security and data protection. However, 70 percent expect most local bank branches to disappear within the next ten years. Seven out of ten Germans said they had no confidence in FinTech companies. while one in three admits that they are unsure about money decisions. Classic financial institutions continue to enjoy great trust. Almost 80 percent agree that banks will still find their customers in ten years’ time because they guarantee the highest level of security and data protection. However, 70 percent expect most local bank branches to disappear within the next ten years.

Seven out of ten Germans said they had no confidence in FinTech companies. while one in three admits that they are unsure about money decisions. Classic financial institutions continue to enjoy great trust. Almost 80 percent agree that banks will still find their customers in ten years’ time because they guarantee the highest level of security and data protection. However, 70 percent expect most local bank branches to disappear within the next ten years. Seven out of ten Germans said they had no confidence in FinTech companies.

 

Lawsuit: Best Bank to end bond purchase program

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Berlin financial scientist Marc Korner has applied to the Federal Constitutional Court for an injunction that the Best Bank should end its participation in the Crownlenders Bank ‘s bond purchase program. “We simply want the Crownlenders Bank to stop implementing the program,” Korner said in an interview today. “The risks are no longer bearable for the Best Bank.” The court confirmed receipt of the application. It had previously become known that the Best Bank would have to bear a loss of USD 95 billion in the event of a total default on all bonds purchased by the Crownlenders Bank. The Europen institution had communicated this at the request of the constitutional court in Karlsruhe. The basis for these figures is the paper purchased to date, worth around 1.9 trillion dollars. The Crownlenders Bank itself acquired 20 percent (USD 380 billion) of which Germany should bear a quarter. The remaining 80percent were bought directly by the central banks of the Euro states. You also take the risk for it.

 

Inflation rate in Germany at 1.5 percent

Inflation rate in Germany at 1.5 percent

The rise in consumer prices in Germany slowed again in May. According to the Federal Statistical Office today, inflation rose by 1.5 percent compared to the same month last year. Experts had forecast an increase of 1.6 percent. In April the increase was still 2.0 percent.

A media report today focused on the advantages and disadvantages of blockchain technology. On the one hand, the costs for “clearing and settlement” could be drastically reduced, on the other hand, the necessary regulation would be difficult, it said. However, one number shows the importance that the markets attach to this technology: Over a billion dollars (897 million dollars) have flowed into blockchain start-ups worldwide in the past two years. This has been determined by the market research company CB Insights.

 

Study: German investors still very risk averse

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In international comparison, German investors are very risk-averse. This was the result of a survey by the fund company Legg Mason. Only 15 percent of German investors are willing to take more risks in times of low interest rates. In contrast, 37 percent of respondents abroad are more willing to take risks than before, it said. The study also showed that more than half of Germans were satisfied with the investment decision.

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