German Bank accidentally transferred five billion to other banks

Немецкий госбанк случайно перевел пять миллиардов другим банкам

The reason for the operation called a technical failure.

German state development Bank KfW mistakenly listed more than 4 billion euros ($5.4 billion) to four banks. The reason for the operation called a technical failure, which repeatedly separate payments, according to Bloomberg.

“KfW has detected an incorrect system behavior at a very early stage of the process immediately reverse the unwanted action and started the necessary process of analysis of the reasons,” – reads the statement of the Bank.

The institution reported that the error was quickly identified and corrected, and the overpayment was successfully transferred back.

Similar incidents have happened before: in 2008, more than 300 million euros were transferred from the accounts of the KfW Bank Lehman Brothers, which a few hours before that declared bankruptcy. Transfer turned into a political scandal in Germany, the Bild newspaper called KfW “the dumbest Bank in Germany”.

KfW – Germany’s largest state Bank. In terms of assets it ranks amongst German banks in the third place, behind only Deutsche Bank and Commerzbank. The Supervisory Board is headed by KfW Finance Minister Wolfgang Schaeuble.

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