Silent partnership contributions and ‘perpetuals’ had been recognised as core capital in Germany since 1991. Moreover, remuneration for an investment depended not on how it was classified by the banking supervisory authorities, but on its risk profile. Since the LTS assets were junior-ranking, the risk pattern had more in common with silent partnership contributions or ‘perpetuals’ than with share-capital investments.
Vaikiva seltsingu panuseid ja “tähtajatuid instrumente” oli Saksamaal tegelikult põhikapitalina tunnustatud juba aastast 1991 ja tasu investeeringutelt ei sõltunud sellest, kuidas panga järelevalveasutus seda klassifitseeris, vaid selle riskiprofiilist Kuna varad olid subordineeritud, sarnanes riskimudel pigem vaikiva seltsingu panusele või “tähtajatutele instrumentidele” kui aktsiakapitali investeeringutele.