Regulation on the application of banking prudential rules to the Kreditanstalt für Wiederaufbau and the assignment of supervision over compliance with these regulations to the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht-KfW-Regulation- KfWV)

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KfWV

Date of completion: 20.09.2013

Full quote:

" KfW-Ordination of 20 September 2013 (BGBl. 3735), as defined by Article 348 of the Regulation of 31 August 2015 (BGBl I). I p. 1474).

Status:

Amended by Art. 348 V v. 31.8.2015 I 1474

For more details, please refer to the menu under Notes

Footnote

(+ + + Text evidence from: 1.1.2016 + + +) 
(+ + + For application cf.  § § 3, 4, 5 and  7 + + +) 

  

§ 4 (3), (5) and (9) shall act in accordance with Section 10, paragraph 2, in force on 9 October 2013. Section 2 (1) shall appear in accordance with Section 10, paragraph 3, in force on 1 January 2014. Section 2 (3) enters into force with regard to the corresponding application of § 2d paragraph 1 of the Banking Act on July 1, 2014 and § 3 number 9 occurs in respect of the corresponding application of § § 25c and 25d of the Banking Act on July 1, 2014 in Power. Unofficial table of contents

Input formula

On the basis of § 12a of the Law on the Kreditanstalt für Wiederaufbau, which is defined by Article 1 of the Law of 4 July 2013 (BGBl. 2178), the Federal Ministry of Finance, in consultation with the Federal Ministry of Economic Affairs and Technology, is responsible for the following, after consultation of the Federal Financial Supervisory Authority and the Deutsche Bundesbank: Unofficial table of contents

§ 1 Scope

(1) This Regulation lays down the rules governing the

1.

of the Law on credit accounts, as amended,

2.

of the Financial Conglomerate-Supervisory Act, as amended, and

3.

of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on the prudential requirements of credit institutions and investment firms and amending Regulation (EU) No 646/2012 (OJ L 136, 31.5.2013, p. 1), as amended,

are to be applied accordingly to the Kreditanstalt für Wiederaufbau (Anstalt) and the KfW Group, as well as the supervision of the institution and the KfW Group. The composition of the KfW Group is the result of a corresponding application of § 10a of the Banking Act. Article 2 (1) (2), (2) and (6) (2) of the Banking Act shall remain unaffected. (2) Legal regulations and acts implementing the prudential rules declared applicable in this Regulation shall be amended accordingly in the (3) The Regulation also regulates the allocation of supervision over compliance with the prudential rules laid down in this Regulation by the Anstalt and the KfW Group for the prudential supervision of the banking sector. to the Bundesanstalt für Finanzdienstleistungsaufsicht (Bundesanstalt für Finanzdienstleistungsaufsicht). Unofficial table of contents

§ 2 General provisions

The following provisions of Regulation (EU) No 575/2013 and of the Banking Act shall apply accordingly:

1.

the definitions and provisions of Articles 4 and 5 of Regulation (EU) No 575/2013 and Article 1 of the Banking Act, to the extent that they are used in provisions to be applied in accordance with this Regulation;

2.

Articles 6 and 7 of Regulation (EU) No 575/2013, as well as Article 2a of the Banking Act,

3.

§ 2d of the Banking Act,

4.

§ § 6, 6a and 7 of the Banking Act,

5.

§ 6b of the Banking Act and

6.

Section 8 (2) of the Banking Act.

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§ 3 Regulations applicable to institutions, institutional groups, financial holding groups, financial conglomerates, mixed financial holding companies and mixed enterprises

The following provisions of Regulation (EU) No 575/2013 and of the Banking Act are to be applied accordingly to the institution and the KfW Group:

1.

Articles 25 to 91 of Regulation (EU) No 575/2013, as well as Articles 10 and 12a of the Banking Act,

2.

Articles 92 to 386 and 500 of Regulation (EU) No 575/2013,

3.

Articles 11 to 24 of Regulation (EU) No 575/2013, as well as Article 10a of the Banking Act,

4.

§ § 10c to 10i of the Banking Act,

5.

Articles 387 to 410 of Regulation (EU) No 575/2013, as well as Articles 13 to 13c, 15 and 17 to 22 of the Banking Act,

6.

Section 23 of the Banking Act,

7.

§ § 24 to 24b and 25 of the Banking Act,

8.

§ § 25a and 25b of the Banking Act, insofar as there is no deviation from Section 8 of this Act,

9.

§ § 25c bis 25e of the Banking Act, Section 7 (5) of the Law on the Kreditanstalt für Wiederaufbau remains unaffected,

10.

§ § 25f to 25m of the Banking Act,

11.

Section 26 of the Banking Act,

12.

§ § 28 to 30 and 31 (3) of the Banking Act and

13.

Articles 429 and 430 of Regulation (EU) No 575/2013.

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Section 4 Rules relating to the supervision of institutions

The following provisions of the Banking Act are to be applied to the institution and the KfW Group accordingly:

1.

Section 33 (1) (2) and (4) to (4b) of the Banking Act,

2.

Section 36 of the Banking Act,

3.

§ § 44 and 44a of the Banking Act,

4.

§ § 45 to 46 of the Banking Act and

5.

Section 49 of the German Banking Act (Kreditwesengesetz)

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§ 5 Financial conglomerate-Supervisory Law

The Financial Conglomerate Supervisory Act shall be applied accordingly. Unofficial table of contents

Section 6 Special provisions

§ § 52, 52a and 53e to 53n of the Banking Act are to be applied accordingly. Unofficial table of contents

§ 7 Other

§ § 60a and 60b of the Banking Act are to be applied accordingly. Unofficial table of contents

§ 8 assignment transactions

The decision on the granting of credit and the acquisition and disposal of financial instruments from the application of § § 25a and 25b of the Law on the Kreditanstalt für Wiederaufbau in accordance with Section 2 (4) of the Law on the Kreditanstalt für Wiederaufbau (Kreditanstalt für Wiederaufbau) is to be found in the Credit law excluding the law. This also applies to subsequent decisions taken in individual cases by the Federal Government in connection with allocation operations in accordance with Article 2 (4) of the Law on the Kreditanstalt für Wiederaufbau. Unofficial table of contents

Section 9 Allocation of supervision of compliance with prudential rules

(1) The Federal Institute shall exercise the supervision of compliance by the institution and the KfW Group with regard to the prudential rules laid down in this Regulation for the appropriate application of the banking supervision regulations. In accordance with Section 7 of the Banking Act, the Federal Institute cooperates with the Deutsche Bundesbank. (2) The Federal Institute informs the Federal Ministry of Finance and the Federal Ministry for Economic Affairs and Energy in particular. In each case, they shall be immediately informed if they are exercised in the exercise of supervision of the institution under this Regulation

1.

intends to take orders or take action, or

2.

Arrangements have been made or measures have been taken.

The applicable principles governing the exercise of the legal and professional supervision of the Federal Ministry of Finance on the Federal Institute shall remain unaffected by this. (3) § 9 of the Banking Act shall apply to the persons mentioned there, insofar as they are The provisions of Article 9 (1) (4) (7), (9) to (11) and (16) to (18) of the Banking Act shall be excluded. Unofficial table of contents

Section 10 Entry into force

(1) This Regulation shall enter into force on 1 January 2016, subject to paragraphs 2 to 4. (2) § 4 (3) and (5) as well as § 9 shall enter into force on the day following the announcement. (3) § 2 (1) shall enter into force on 1 January 2014. (4) § 2 (3) shall enter into force with regard to the the corresponding application of § 2d paragraph 1 of the Banking Act on 1 July 2014 in force and § 3 number 9 shall enter into force on 1 July 2014 with regard to the corresponding application of § § 25c and 25d of the Banking Law.