Communication I
The term Understanding I refers to an international agreement between the EU Commission and the German Federal Government . Its content is the termination of Anstaltslast , guarantor liability and / or state refinancing guarantees for the German municipal savings banks and Landesbanken .
The Anstaltslast / guarantor liability was abolished on July 18, 2005. For the obligations of these financial institutions entered into between July 18, 2001 and July 18, 2005 , Anstaltslast / guarantor liability were limited to terms up to December 31, 2015. As of July 19, 2005, savings banks and Landesbanken are eligible for insolvency. This means that there is no longer any obligation on the part of their sponsors to provide rescue funds if the statutory capital should be used up in the event of a loss. The owners of communal savings banks are no longer liable for their liabilities, unless the German savings bank laws, which were amended after July 18, 2005, regulate the obligations of the communal owners anew.
Individual evidence
- ↑ Lüthje, B .: The Understandings I and II - Caesura for German Banks , in: Corporate Law at the Beginning of the 21st Century, Festschrift for Eberhard Schwark, Munich 2009, p. 514 ff.
- ↑ Federal Ministry of Finance: State Aid No. E 10/2000 - Germany Anstaltslast and guarantor liability, reference number EC 3 - F 2505-93 / 02, Berlin, April 4, 2002
- ^ Federal Ministry of Finance: Anstaltslast and guarantor liability; Decision of the European Commission of March 27, 2002, reference EC 3 - F2505-104 / 02, Berlin April 12, 2002