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

(a) gives incomplete or incorrect information to the Banking Association or the
Auditing Association in connection with the Fund or
(b) fails to provide the information required for the risk assessment pursuant
to Section 4a in time or
(c) fails to comply with the obligation to maintain confidentiality with respect
to the outcome of the risk assessment (particularly with respect to the rating
score) pursuant to Section 3 of the Risk Assessment Rules or
(d) is in default with the payment of contributions for more than two months
after written reminder or
(e) fails to include in its General Business Conditions for domestic business the
clauses prescribed by Sections 5 (1) and 5b (1), sentence 1 or fails to make
such clauses the basis of its business relations with its domestic customers or
(f) fails to furnish the declaration pursuant to Section 5 (2) on request or
(g) fails to make available without undue delay to the Banking Association the
information set out in Section 5 (3) or
(h) fails to support the Auditing Association in its auditing activity pursuant to
Section 5 (4) or fails to fulfil without undue delay any condition set by the
Auditing Association pursuant to Section 5 (5) or
(i) fails to fulfil without undue delay any condition set by the Banking
Association pursuant to Section 5 (7) or by the Auditing Association pursuant
to Section 5 (5) or
(j) fails to indemnify the Banking Association against losses pursuant to Section
5 (10), sentence 1 or
(k) fails to furnish the declaration required under Section 5 (10), sentence 2 or
(l) fails to comply with the notification requirement under Section 5 (10),
sentence 5 or
(m) contrary to Section 5b (2), advertises the security of deposits or
(n) makes incorrect statements to customers or potential customers concerning
the protection ceiling and the kind of deposits protected.
4. Exclusion from participation in the Fund shall be threatened with six months’
notice. In the case of Subsection (2), subclause (b), exclusion may only be
threatened if the bank belongs to rating category B- or a lower category for
more than two years in succession.
5. The Board of Directors of the Banking Association shall decide on exclusion
after hearing the bank concerned. The Board shall consider in its decision
whether, measured against the interests of the Fund, exclusion constitutes an
unreasonable hardship for the bank.
6. A decision of the Board of Directors concerning the exclusion of a bank shall be
communicated to such bank in writing; the decision shall become effective one
month after receipt thereof by the bank. The bank may request a review of the
decision by the Delegates’ Assembly (Delegiertenversammlung) of the Banking
Association; such request to the Delegates’ Assembly shall be made by written
notice to the offices of the Banking Association which must reach the Banking
Association within the period stated in sentence 1, second part. The request
to the Delegates’ Assembly of the Banking Association shall have suspensive
effect. Exclusion shall not take place if the Delegates’ Assembly of the Banking
Association objects to the exclusion by a majority of votes cast. The decision
of the Delegates’ Assembly shall be communicated to the bank in writing and
shall become effective one month after receipt by the bank.
7. If a participating interest is acquired in a bank by means of which the acquirer
holds the majority of the voting rights or capital or can otherwise directly or
indirectly exercise a dominant in fluence within the meaning of Section 5 (10),
the bank’s participation in the Fund shall terminate without any proceedings for
exclusion after expiry of a period of nine months from the date of acqui sition of
the participating interest, irrespective of whether such a participating interest is
8 By-laws Section 4
By-laws Section 4 9