German financial services regulator BaFin said Monday it will extend a ban on naked short selling for eleven German companies until May 31.

The ban, which was put in place in September following the fallout of U.S. investment bank Lehman Brothers, was previously set to expire March 31.

Eleven German companies, including Aareal Bank AG (ARL.XE); Allianz SE (AZ); AMB Generali Holding AG; Commerzbank AG (CBK.XE); Deutsche Bank AG (DB); Deutsche Boerse AG (DB1.XE); Deutsche Postbank AG (DPB.XE); Hannnover Re AG (HNR1.XE); Hypo Real Estate Holding AG (HRX.XE); MLP AG (MLP.XE) and Munich Re AG (MUV2.XE), are affected by the bank.

Naked short selling describes a trader selling shares which he doesn't own, or have proof of owning, at the time when the transaction is executed.

Company Web site: www.bafin.de

-By William Launder; Dow Jones Newswires; +49 69 29 725 515; william.launder@dowjones.com