Reform of the voluntary deposit protection of the Association of German Banks as of October 1, 2017
On April 5, 2017, the delegate assembly of the Association of German Banks approved the board's proposal to reform the voluntary deposit protection.
As of October 1, 2017, local authorities are no longer subject to the protection of the voluntary deposit protection, since according to the Association of German Banks, as professional market participants, they can generally assess the risks themselves. For investments made before October 1, 2017, grandfathering applies.
For all other investors, promissory notes and registered bonds are no longer protected as of October 1, 2017. Private individuals and foundations are excluded. For investments made before October 1, 2017, grandfathering applies.
From January 1st, 2020, investments with a term longer than 18 months will no longer be protected. Private individuals and foundations are excluded. For investments made before January 1st, 2020, grandfathering applies.
If you need information on whether your institution will continue to be protected by voluntary deposit protection from October 1st, 2017, you can contact the banking association at info.einlagensicherung@bdb.de.
You can find more information at www.einlagensicherungsfonds.de
