By-laws of the Deposit Protection Fund valid from January 2023

Annex to Section 5a (10) of the By-laws of the Deposit
Protection Fund
Rules on the provision of contributions by way of
payment commitments
Where payment commitments are assumed pursuant to Section 5a (10) of the
By-laws of the Deposit Protection Fund, the following rules shall apply:
Section 1 – Conditions for assuming payment
commitments
Section 2 – Master agreement for payment commitments
(1) The master agreement shall form the basis for concluding agreements on the
assumption of payment commitments in accordance with Section 3 of this
annex in each assessment year. The master agreement shall specify the content
of the agreements on the assumption of payment commitments, the procedure
for concluding the agreements and the further conditions for exercising this
option.
(2) The Banking Association shall use a standard template for the master
agreement.
(1) The assumption of a payment commitment in an assessment year shall require
the bank
(a) has concluded with the Banking Association, once only but by 15 March
of the assessment year at the latest, a master agreement for payment
commitments in accordance with Section 2 of this annex and a master
agreement for financial collateral in accordance with Section 8 of this annex
and,
(b) has agreed with the Banking Association, by 15 March of the assessment
year at the latest, the assumption of a payment commitment for the
assessment year in accordance with Section 3 of this annex and
(c) has secured the payment commitment by 31 March of the assessment year
at the latest by providing financial collateral in accordance with section 7 of
this annex.
Section 3 – Agreements on the assumption of payment
commitments
(1) The agreements on the assumption of payment commitments shall specify the
extent to which the bank will assume payment commitments. The agreements
shall also specify, in particular,
(a) that payment commitments shall be irrevocable and non-terminable,
(b) that each payment commitment shall be secured by certain types of financial
collateral in accordance with Section 6 to 11 of this annex,
(c) that the bank shall undertake to pay upon the first request and
(d) that it shall be permissible to transfer payment commitment agreements to
other banks in accordance with Section 5 of this annex.
(2) The Banking Association shall use a standard template for agreements on the
assumption of payment commitments.
(2) The date mentioned in subsection (1) (c) is a cut-off deadline.
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