Regulation on the protection of creditors of Bausparkassen (Bausparkassen-Ordinance-BausparkV)

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BausparkV

Date of completion: 19.12.1990

Full quote:

" Bausparkassen-Verordnung vom 19. Dezember 1990 (BGBl. 2947), as last amended by Article 1 of the Regulation of 24 April 2009 (BGBl I). I p. 999) "

Status:

Last amended by Art. 1 V v. 24.4.2009 I 999

For more details, please refer to the menu under Notes

Footnote

(+ + + Text evidence from: 1.1.1991 + + +) 

  

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Input formula

On the basis of § 10 of the Law on building societies of 16 November 1972 (BGBl. 2097), as defined by Article 1 (10) of the Law of 13 December 1990 (BGBl). 2770), in conjunction with Section 1 of the Regulation on the transfer of the authorization to grant legal orders pursuant to Section 10, first sentence, of the Law on Building Savings Banks to the Federal Supervisory Office for the Banking Act of 8 January 1973. (BGBl. 17), the Federal Supervisory Office (Bundessupervisory amt für das Kreditwesen), after hearing the Deutsche Bundesbank and the leading associations of the building societies, is responsible for: Unofficial table of contents

§ 1 Pre-financing and intermediate credits from allotment funds

(1) The amounts collected for the allocation and the already allocated but not yet used by the construction savers may temporarily be granted up to 70% of the hundred temporarily for the granting of loans pursuant to § 4 (1) (1) of the Act on Building savings banks are used. Loans for the pre-financing of services to such building-saving contracts, where the minimum savings required for an allocation is not yet paid, shall not exceed 25% of the volume of loans authorised under the first sentence of the first sentence. (2) The loans granted in accordance with paragraph 1 of this Article shall be subject to a total of 50% of the loans granted in accordance with legally binding loans of this type. (3) The loans referred to in paragraphs 1 and 2 shall be subject to an expected maturity of up to 48 months. . Loans which have a probable maturity of more than 36 months shall not exceed 25 of the hundreds of the quota referred to in the first sentence of paragraph 1. (4) The Bundesanstalt für Finanzdienstleistungsaufsicht may, on request in special cases, Allow exceptions to paragraphs 1 to 3. Unofficial table of contents

§ 2 Large-scale construction contracts

(1) Large-scale construction contracts are construction-saving contracts in which the building-saving amount exceeds the amount of EUR 300 000. The construction savings contracts concluded within twelve months of a construction saver are considered to be a contract. (2) The share of non-allocated large-scale construction savings contracts in the total non-allocated building savings of the building savings contracts of a construction division Building savings bank may not be higher than 15 per cent. (3) The share of large-scale construction contracts concluded within a calendar year is due to the total construction savings of the construction savings contracts concluded this year by the Bausparkasse may not be higher than 30 of the hundred. (4) To the extent permitted under paragraphs 2 and 3 Parts of large-scale construction contracts are to be added to the construction savings contracts, to which the construction saver has paid the minimum saving amount required for an allocation within the first year following the conclusion of the contract. Unofficial table of contents

§ 3 Commercial finance

The proportion of loans used for the financing of construction projects with a commercial character may not exceed 3 of the total assets of loans granted by a building savings bank. Unofficial table of contents

§ 4 Loans to participating companies

(1) Loans in accordance with Section 4 (1) No. 7 of the Law on Building Savings Banks may be granted in total up to 60 per cent of the capital stock of the Bausparkasse. (2) Loans may be granted to a single company in which the building savings bank is involved. the total amount referred to in paragraph 1 of this Article shall be up to 20 per cent of the capital stock of the Bausparkasse. Unofficial table of contents

§ 5 (omitted)

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§ 6 Loans against commitment, Blankoloans

(1) Loans against the levy of a declaration of commitment pursuant to Section 7 (4) (1) of the Act on building societies or without security pursuant to Section 7 (4) (2) of the Law on Building Savings Banks may in individual cases only up to the amount of EUR 30 000. (2) The proportion of all loans referred to in paragraph 1 shall not exceed a total of 30 per cent of the total stock of loans granted by a building savings bank. Unofficial table of contents

§ 6a limitation of loans not secured by fundamental rights

The share of all loans for which the equivalent collateral under Section 7 (3) of the Law on building savings banks are made, and of the loans provided for in Article 6 (1) of this Regulation, may be a total of 45 per cent of the total amount of loans receivable do not exceed a building savings bank. Unofficial table of contents

§ 7 Conditions of allocation

(1) In the general terms and conditions for building savings contracts, minimum valuation figures or other appropriate conditions for allocation shall be included, which shall, in the long term, lead to a collective savings/savings ratio of at least 1.0. (2) Subject to paragraphs 3 and 4 at the time of allocation, individual savings-savings-benefit ratio must be at least 0.5. If, in the course of the introduction of new tariffs or tariff characteristics, the expected amount of the factors to be shortened can not be derived from experience values for comparable tariffs, the individual savings/cash ratio must also be used in the (3) The conditions of allocation may be fixed by way of derogation from the provisions of paragraph 2, provided that the conditions for the allocation of the minimum savings are at least 0.7. Building savings tariffs in the long run a collective The savings-savings-performance ratio of at least 1.0 is guaranteed. (4) The allocation conditions do not lead to a collective savings-savings-performance ratio of at least 1.0 or arise for the collective The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) can, on request, in accordance with the requirements of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht), must be adapted to the requirements of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). special cases exceptions to the upper limit of the collective (6) The values for the collective savings/savings ratio are to be proven annually by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) for the past calendar year. Unofficial table of contents

§ 8 Feed to the Fund for the Protection of Structural Engineering

(1) The supply to the Fund for the protection of the structural funds shall be effected annually at the end of the financial year and shall be made up of the stocks of the allocation funds which are temporarily not allotted pursuant to section 6 (1) sentence 2 of the Act on building societies. (fluctuation reserve) on the calculation dates for the calculation of the available allocation funds for the previous year. The amount of the supply shall be calculated from six tenths of the stocks of the fluctuation reserve, multiplied by the difference between the external-collective interest rate referred to in paragraph 2 and the collective interest rate referred to in paragraph 3. (2) The external-collective interest rate is either from the savings income of the Bausparkasse from the investments pursuant to § 4 (3) of the Act on building societies and from the proceeds of pre-and interim financing credits pursuant to § 4 (1) (1) of the Law on building savings banks or from the rate of return, which was determined and published by the Deutsche Bundesbank of all domestic bearer bonds, which are included in the national debt. The once-chosen method may only be changed for important reasons. (3) The collective interest rate is the interest rate for building savings loans weighted by the sum of the sum of the individual construction savings tariff variants in the non-allocated contract stock. In the case of tariff variants, the lowest individual savings-cost-benefit ratio of which is at least 0.8, the interest rate for building savings loans, plus 2.75 from the hundreds, can be selectively taken instead of the interest rate for building savings loans. Unofficial table of contents

§ 9 Use of the Fund for the Protection of Structural Engineering

(1) The funds of the Fund shall be used to the extent that the allotment with a target valuation number which leads to an individual savings-box-performance ratio of 1.0 for regular savers, shall not be used without the addition of external-collective means to the allocation mass. can be maintained (upper use-evaluation count). For all building savings tariffs of an allotment mass, a uniform upper use rating, which is to be determined in the General Business Principles, is to be determined in accordance with the General Conditions for Construction Saving Contracts of the Bauspartarifvariant. (2) The funds of the Fund may be used to the extent that, in accordance with the provisions of the Treaty, the Fund may be used for the purpose of: The first sentence of paragraph 1 The funds of the Fund can be used with the approval of the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) before reaching the lower level of employment evaluation. in so far as this is necessary for the defence of an urgent danger for the maintenance of permanent allotment capacity. (4) The Bausparkasse may withdraw from the Fund the amount resulting from the supply to the dispatching mass. an interest rate applied to the external colletion A different amount from the effective annual interest rate for the external colletive resources and the collective interest rate (§ 8 (3)). (5) Lost the Bausparkasse in a financial year a part of the tax profit In the event of a refund, the Fund may withdraw from the Fund an amount equal to up to four tenths of the dissolved part of the allocation reserve. Unofficial table of contents

§ 10 Transitional Regulation

In the standard tariffs offered on 1 January 1991, with a minimum saving of 40 per cent and a monthly redemption contribution of 6 thousand of the building savings, a derogation from § 7 of the allocation requirements may be applied, which shall be an immediate deposit of the minimum savings deposit shall lead to a waiting period of at least 45 months; in all other building savings rates, an individual savings-cost-benefit ratio of at least 0.5 is to be added. Proof of collective balanced performance ratios (§ 7 (1) and (4)) must be provided no later than 1 January 1996. Unofficial table of contents

Section 11 Entry into force, external force

This Regulation shall enter into force on 1 January 1991.