IKB is a prolific user of the securitization market through the KfW sponsored Promise-I and other stand-alone programs. IKB liquidity facilities related to the conduit have not been drawn, as KfW - the main shareholder of IKB - has pledged to cover those risks at the bank. KfW also immediately assumed IKB financial obligations under the liquidity facilities while also committing to protect the bank against risks resulting from certain portfolio investments. "The bank has built up a large volume of structured credit investments, the majority of which carries very good ratings," said KfW in a press statement last week. "Up to now, there was some market value deterioration, but there were no mentionable losses."