Steinhoff scandal leaves ECB with financial issues of its own
Steinhoff
FRANKFURT (Reuters) -  The accounting scandal embroiling household goods retailer Steinhoff (SNHG.DE)  could place the European Central Bank in a tricky position as one of the embattled firm’s creditors.
The ECB bought Steinhoff’s bond last summer  as part of its stimulus program.
The ECB owns Steinhoff senior bonds  the last to be written off or converted into shares if the company goes down.
The Steinhoff case also puts the ECB in the uncomfortable position of being a lender to a company accused of financial wrongdoing.
FRANKFURT (Reuters) -  [TGT]could place the European Central Bank in a tricky position as one of the embattled firm’s creditors.
The ECB bought Steinhoff’s bond last summer  as part of its stimulus program.
The ECB owns Steinhoff senior bonds  the last to be written off or converted into shares if the company goes down.
[TGT] also puts the ECB in the uncomfortable position of being a lender to a company accused of financial wrongdoing.