News in Brief

Bundesbank Faced with Sorting Flood Damaged Notes

In July Germany experienced severe flooding in some regions, as high as seven metres in the town of Bad Neuenahr-Ahrweiler for example. The result was at least 183 deaths and extensive damage.

It also resulted in significant quantities of banknotes stored in homes and businesses being damaged by flood water contaminated with mud, sewage and oil.

Over €50 million worth of notes have arrived at the Bundesbank, which is now having to process those notes, a task made more urgent because if left they can ‘solidify and become as hard as concrete’, according to Johannes Beerman, an executive director of the Bundesbank.

The notes have to be washed, dried and examined to check they are genuine before any reimbursement can be made. The Bundesbank requires over half of the note to be present for any reimbursement.