By-laws of the Deposit Protection Fund

office of the bank. The bank shall be obliged to notify without undue delay
all creditors affected by a reduction of the pro tection ceiling. These deposits
shall be protected up to the old protection ceiling until maturity or until the
next possible termination date after notification of the reduction.
(e) For banks which, when submitting an application for participation in the
Fund, belong to an institutional protection scheme within the meaning of
Section 43 of the German Deposit Guarantee Act and, when admitted to the
Fund, have been members of the Auditing Association for at least three full
calendar years, the protection ceiling following a review after admission to
the Fund shall be governed by subclause (a) instead of subclause (b), unless
the conditions set out in subclause (c) apply.
9. In computing the protected deposits, all deposits of one creditor shall be added
to gether; counterclaims of the bank, if any, shall be deducted, even if these are
not yet due. Furthermore, the provisions of Sections 768, 770 and 776 of the
German Civil Code applicable in respect of guarantors shall apply analogously
for the benefit of the Banking Asso ciation.
10. The treatment of trust accounts shall be geared to the trustor. The same shall
apply to other open trust accounts, provided that the trust relationship and
the trustor are unambiguously designated in the name of the account and the
existence of the trust relationship is demonstrated to the Fund. In all other
cases, trust accounts, subject to the provision in subsection (4) sentence 2, shall
be treated as accounts of the trustee.
11. In the case of joint accounts, credit balances and claims shall for the purpose of
protection be attributed to the account holders in equal shares, irrespective of
the kind of account and of the legal relationship between the account holders.
By-laws Section 6
33