Deposit insurance

Statutory deposit insurance

The Bank is a member of the Entschädigungseinrichtung deutscher Banken GmbH (EdB) (= statutory deposit protection scheme – hereafter referred to as the “Compensation Scheme”). Deposit protection via the compensation scheme includes not only all types of deposits – essentially demand, time and savings deposits – but also registered savings bonds.

We hereby draw attention to the following restrictions on the protection of deposits or other repayable funds through the Compensation Scheme:

Not protected are those liabilities of the Bank over which the Bank has issued bearer instruments, such as bearer bonds and bearer certificates of deposit, as well as liabilities to credit institutions, government agencies, insurance companies.

Also not protected are 10% of the Bank’s liabilities from securities transactions. Liabilities from securities transactions come into consideration when securities have been lost and the Bank is unable to return the securities owned by and held for the customer to the customer. 90% of the Bank’s liabilities arising from these cases are covered by the indemnification scheme, but only up to the total amount of EUR 20,000.00.

You can find out more about statutory deposit insurance at www.edb-banken.de.

Voluntary deposit insurance

In addition to the statutory deposit protection, your deposits are voluntarily protected by the Deposit Protection Fund of the Association of German Public Sector Banks (ESF). In accordance with the ESF’s fund statutes, the ESF protects non-bank deposits that exceed the legally guaranteed indemnification entitlement of EUR 100,000. Deposit protection covers deposits from private individuals, commercial enterprises and local authorities. Protected assets include savings deposits, demand deposits, time deposits, registered bonds and promissory bills, and liabilities from securities transactions. Excluded are, for example, deposits of banks as well as deposits of the federal and state governments and their special funds.

A legal claim against the Fund is excluded. Payments by the Einlagensicherungsfonds e.V. are always made on a voluntary basis according to the fund’s capacity, i.e., within the limits of the fund’s existing volume.

For more information on the scope and exceptions to deposit insurance provided by ESF, visit www.voeb-es.de.