German Pension Funds May Ease Rules After S&P, Ministry Says
Two German pension funds for civil
servants in the federal government may ease their investment
rules for government bonds after Standard Poor’s downgraded
euro-area countries, the Interior Ministry said.
Officials in the German Finance and Interior Ministries
have been discussing the change for several weeks, an Interior
Ministry spokesman, who declined to be identified in line with
official policy, said in a phone interview today in Berlin. The
funds, which have holdings worth about 5 billion euros ($6.4
billion), can only invest in bonds rated AAA by all three major
credit-rating companies.
No decision has yet been made, the spokesman said. The plan
was reported earlier in Handelsblatt newspaper.
To contact the reporters on this story:
Tony Czuczka in Berlin at
aczuczka@bloomberg.net;
Patrick Donahue in Berlin at
pdonahue1@bloomberg.net
To contact the editor responsible for this story:
James Hertling at
jhertling@bloomberg.net
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Article source: http://www.bloomberg.com/news/2012-01-17/german-pension-funds-to-ease-rules-after-s-p-handelsblatt-says.html
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