Bank security for the savings banks, Landesbanken and Landesbausparkassen

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The institute protection of the Sparkassen, Landesbanken and Landesbausparkassen (also: Haftungsverbund der Sparkassen-Finanzgruppe ) is the name for the voluntary and additional deposit protection within the Sparkassen-Finanzgruppe .

General

Against the background that the state guarantees from the guarantor liability were canceled due to an agreement between the EU Commission and the Federal Republic of Germany in July 2001 ( Brussels Concordance ), the Savings Banks Finance Group has further developed its security system. Until the Brussels Concordance in July 2001, the publicly organized savings banks, Landesbanken and Landesbausparkassen benefited from guarantor liability and were thus incapable of insolvency . The purpose of the institute protection established in December 1975 was therefore to create a protection instrument comparable to that of the other banking groups.

The Haftungsverbund is an association within the Sparkassen-Finanzgruppe. The voluntary protection system offers absolute protection for creditors and is in addition to the statutory deposit protection applicable to all banking groups based on the Deposit Protection Act , which came into force in July 2015. The savings banks , Landesbanken and Landesbausparkassen have a system of security institutions (so-called liability association) that ensures the continued existence of each of the affiliated institutes ( institute security ). This liability association is part of the savings bank association of the Sparkassen-Finanzgruppe , which guarantees this group of institutions a uniform branding.

Members

The liability association consists of:

  • the eleven regional support funds of the regional savings bank associations,
  • the security reserve of the Landesbanken and
  • the security fund of the Landesbausparkassen.

At each of these three levels, statutes are set up that regulate the basis of the support funds. These three uppermost levels are in turn connected to a further level. This system was set up parallel to the liability of the sponsors of the institutes organized under public law, in order to be able to intervene in a supportive manner at an institute concerned and not to be dependent on the support provided by the sponsors.

scope

Are secured all deposits ( visual , forward and deposits of non-banks ), bank deposits in Euro or foreign currency, and issuers of SparkassenFinanzgruppe issued securities in EUR or foreign currency . As the name makes clear, these assets or securities must be managed by savings banks, state banks (including DekaBank Deutsche Girozentrale ) or state building societies; other association partners of the Sparkassen-Finanzgruppe (especially public insurers ) are not benefited from this. There is no limit to the amount of the depositor protection, there is no coverage .

Legal issues

The legal basis is the “Framework Statutes for the Security System of the Sparkassen-Finanzgruppe” of May 21, 2015 and subsequent amendments (RS). According to this, the German Savings Banks and Giro Association (DSGV) maintains a support fund as a separate component of the DSGV association assets ("Sparkasse support fund", § 1 RS). According to Section 2 (1) RS, the Sparkasse Support Fund has the task of protecting the member savings banks, in particular of ensuring their liquidity and solvency (“institutional security”). The member savings banks make contributions and payments to the savings bank support fund (Section 4 (1) RS). The membership fee is invested like an insurance premium as a capital investment in the savings bank support fund, which is used to support an association partner in the event of support (identical term to the insured event ). A support case exists in accordance with § 14 RS in the event of threatened or existing economic difficulties of a member, in particular if the member is unable to avoid a loss report that endangers its own existence or a suspension of payments on its own . The regional savings bank and giro associations ("regional associations") maintain their own funds to support their member savings banks ("Sparkasse support funds") in accordance with Section 30 (1) RS; they can ensure supra-regional compensation (Section 30 (2) RS). The security reserve of the Landesbanken and Girozentralen is regulated in §§ 38 ff. RS and is intended to protect the member institutions themselves, in particular to ensure their liquidity and solvency (§ 39, Paragraph 1 RS). The security fund of the Landesbausparkassen is codified accordingly in §§ 65 ff. RS.

All security schemes of the Sparkassen-Finanzgruppe (savings banks support fund of the regional associations, security reserve of the Landesbanken and giro centers and security funds of the Landesbausparkassen) together form the security system in accordance with Section 92 (1) RS. Internal compensation between the three security schemes is provided for in Section 97 RS. The German Savings Banks and Giro Association e. V. is the legal entity of the bank- related protection system of the Sparkassen-Finanzgruppe recognized by BaFin as a deposit protection system according to § 43 EinSiG and takes over the compensation of the depositors for the affiliated institutions in accordance with § § 5 to § 16 EinSiG and thus the task of deposit protection.

functionality

The various funds are linked in a multi-stage process ("liability cascade"). In the event of support, the regional support fund must first draw on its cash and an additional contribution from the support fund to support a savings bank. If these funds are not sufficient, the other regional savings bank support funds (“supra-regional compensation”) are used first and then the funds of the Landesbanken or the Landesbausparkassen.

Despite the breakdown of the security system into eleven regional funds at the savings banks and two additional national funds, risk monitoring for savings banks, Landesbanken and Landesbausparkassen, which is carried out by a monitoring committee for each fund, is carried out according to uniform standards based on defined key figures. The calculation of the contributions to the funds is based on the risk-bearing capacity of the institutions and also follows uniform rules.

aims

The aim of the Haftungsverbund is to protect the common brand , the resources used jointly in the group, and joint investments from the economic consequences of undesirable developments at an individual institute. At the same time, the institution security ensures that the institution concerned always fulfills its contractual obligations towards its customers and that there are no disruptions in performance in the first place. With the change in the state liability bases from 2005 - that is, the discontinuation of guarantor liability and the revision of the institutional liability - the liability association moved more into the center of interest when assessing the creditworthiness of savings banks and Landesbanken through ratings from rating agencies .

Another goal is the complete security of the institute. It is therefore not a question of only establishing liabilities related to certain types of investment or limited in terms of amounts, but rather of installing absolute liability. Not only certain deposits, but all customer deposits, the securities issued and the respective interest are protected to an unlimited extent. This also applies expressly to cash or savings bank bonds and savings bank letters as well as bearer bonds of the savings banks and Landesbanken. The savings banks and other institutes are therefore secured as a whole.

literature

  • Raphael Lohmiller: Sparkassen-Finanzgruppe: Legal basis of the Sparkassen, Landesbanken and Landesbausparkassen . In: Knapps Enzyklopädisches Lexikon des Geld-, Banking- und Börsenwesen , 2007 edition, Fritz Knapp Verlag, Frankfurt am Main.

Web link

Individual evidence

  1. ↑ European Commission of March 27, 2002, State Aid No. E10 / 2000 - Germany: Anstaltslast und Garantträgerhaftung , p. 2
  2. ↑ German Bundestag / Scientific Service of November 2, 2005, Deposit Protection in the Sparkasse Sector , p. 3
  3. ↑ DSGV, “Framework statutes for the security system of the Sparkassen-Finanzgruppe” of May 21, 2015 , accessed on August 15, 2019