In a statement, the regulator said: “BaFin found that Greensill Bank AG was unable to provide evidence of the existence of receivables in its balance sheet that it had purchased from the GFG Alliance Group. For this reason, BaFin has already taken extensive measures to secure the bank’s liquidity and to limit risks for Greensill Bank AG and has appointed a special representative for the bank.”
Looks like a midden is about to impact an air moving device.
https://www.wyelandsbank.co.uk/about-us/our-history/
The bit in the newspaper about this bank sounded ominous. This looks like a captive bank (a bank that is dedicated to lending to a single group), which is never good.