By-laws of the Deposit Protection Fund

(e) was created in connection with transactions because of which persons have
been convicted in criminal proceedings of money laundering within the
meaning of Article 1 (3) of Directive (EU) 2015/849 or
(f) was created in connection with legal acts that would be challengeable
in insolvency proceedings pursuant to Section 129 et seq. of the German
Insolvency Code (Insolvenzordnung [InsO]), in conjunction with Section 46c
of the German Banking Act, irrespective of whether a reduction of assets is
involved, or
(g) is excluded from compensation by the statutory deposit guarantee scheme
under the de minimis provision of Section 15 (1) of the German Deposit
Guarantee Act (Einlagensicherungsgesetz [EinSiG]).
3. Deposits of (i) private non-financial companies, (ii) non-profit organisations
which are primarily engaged in charitable, benevolent or ecclesiastical activities,
(iii) professional organisations and non-profit associations of companies or their
employees as well as (iv) (also financial) companies and institutions which are
required by an act of parliament to maintain deposits only with banks which
are part of (or participate in) a protection scheme of the banking industry shall
only be protected if
(a) the deposit is not covered by subsection (2), subclauses (a) to (g) and
(b) the deposit is not a liability from a promissory note or a registered bond or
from a comparable debt instrument under foreign law and
(c) the deposit has a maximum term of 12 months. The currently agreed term
of the deposit at the time when the compensation event was determined
pursuant to Section 10 (1) of the German Deposit Guarantee Act shall apply.
No allowance shall be made in this respect for any early termination or
other reclamation rights on the part of the creditor or the bank. If the
deposit has been renewed, the terms that expired before renewal shall not
be taken into account in its designated term. Deposits for which no terms
By-laws Section 6
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