Understanding II

Understanding II refers to an international agreement between the European Commission and the German Federal Government . With effect from 11 April 2002, the German federal and state governments must own development banks institutional liability , guarantor liability and / or state funding guarantees to keep.

The prerequisite for this is that the development banks only adhere to the canon of transactions laid down in Understanding II. Businesses that did not comply with this canon had to be given up or spun off by December 31, 2007. At the same time, the promotional institutions , which were active as departments at Landesbanken or in ministries as institutions bound by instructions, had to transfer them to independence or to run them as an organizationally separate institution in the AidA institution .
In Understanding II, German development institutions / investment banks are expressly permitted to do business. What has not been specified is not allowed. In contrast to Understanding I , the state guarantees have been received for this type of bank on the German financial market , so that in the event of a loss the institution pays interest and repayments immediately at any time to its creditors . The German development and investment banks cannot go bankrupt; they are exempt from corporate income tax benefits .
In the competitive business, the institutes are allowed to operate in the treasury area, in the syndicated business (not in the management) and in municipal financing. The originally prohibited business with municipal public and private companies was canceled by the Federal Ministry of Finance on July 2, 2009 in response to a minor inquiry from MPs Frank Schäffler u. a. and the parliamentary group of the FDP to "Activities of the development banks in municipal business".

Individual evidence

1. ↑ 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
2. ^ 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
3. ↑ 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.
4. ↑ Federal Ministry of Finance: Document 2009/0415015, Small question from MPs Frank Schäffler u. a. and the parliamentary group of the FDP "Activities of the development banks in municipal business"; BT printed matter 16/13518 of June 17, 2009, reference number VII A 1 - WK 7031/09 / 10001-03