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Gießen (dpa / lhe) - The city of Gießen has taken the first steps in view of its endangered millions in deposits at the Greensill-Bank, which is in turmoil.

Mayor Dietlind Grabe-Bolz (SPD) ordered all fixed-term deposits to be stopped immediately, the central Hessian city announced on Thursday.

"This corresponds to a voluntary moratorium to create time for political advice on the future handling of plants."

The OB wanted to discuss with the city council about the further investment policy and the change in the guidelines that have been in effect so far.

The German financial regulator Bafin closed the Bremen subsidiary of the British-Australian financial conglomerate Greensill to customers last week.

According to Gießen, it has invested ten million euros in the bank.

Other Hessian cities also have deposits there and are now worried about their money.

"In view of the obvious failure of all security systems, we have to re-discuss how we can invest our money securely, especially with the banking supervisory authority," said Grabe-Bolz, according to the statement.

The town hall chief had been criticized in the past few days by various Giessen parties because of the Greensill case.

In the communication, Grabe-Bolz pointed out that the city oriented itself, among other things, to the fact that the bank had a decent rating.

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