Regulatory Alerts2014-07-01
German Banking Act (Gesetz über das Kreditwesen)
The German Federal Ministry of Justice enacted this revised Banking Act to regulate credit institutions, financial services, and holding companies within Germany. The legislation mandates strict prudential supervision by BaFin and the Deutsche Bundesbank, enforcing requirements for capital adequacy, liquidity, and organizational standards. It further establishes comprehensive frameworks for recovery and resolution planning, anti-money laundering compliance, and the prevention of systemic financial risks.
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