Regulatory Alerts2016-01-15
Deposit protection in Germany
The Deutsche Bundesbank reports that the Deposit Guarantee Act entered into force in Germany on 3 July 2015 to transpose the amended European Deposit Guarantee Scheme Directive. This legislation supersedes the previous 1998 Act, maintaining statutory compensation schemes while introducing significant changes to institutional protection schemes to further improve depositor protection levels. The document outlines the harmonized requirements for funding, coverage limits, and faster repayment timelines, concluding with an assessment of plans for a common European deposit insurance scheme.
Share