Read the untranslated law here: http://www.gesetze-im-internet.de/bausparkv_1990/BJNR029470990.html
Regulation for the protection of creditors of building societies (building societies regulation - BausparkV) BausparkV Ausfertigung date: 19.12.1990 full quotation: "Building Societies Ordinance of 19 December 1990 (BGBl. I S. 2947), most recently by article 1 of the Decree of April 24, 2009 (BGBl. I p. 999) has been changed" stand: last amended by art. 1 V v. 24.4.2009 I 999 about the stand number you see in the menu see remarks footnote (+++ text detection from) : 1.1.1991 +++) input formula on the basis of article 10 of the law on building societies of 16 November 1972 (BGBl. I S. 2097), by article 1 No. 10 of the law of 13 December 1990 (BGBl. I p. 2770) is has been modified in connection with article 1 of the regulation to transfer the authority to adopt legal regulations according to § 10 sentence 1 of the law on building societies on the federal supervisory authority for credit from January 8, 1973 (BGBl. I p. 17) prescribed by the federal supervisory Office for the German banking Hearing of the Deutsche Bundesbank and the umbrella organisations of the building societies: section 1 § 4 ABS. 1 Nr. 1 of the law on building societies are used pre-financing and bridging allocation funds (1) which are accumulated and the amounts already allocated, but by construction savers yet to complete up to 70 per cent on a temporary basis to the granting of loans for the allocation. Loan for the pre-financing of services on such accounts, where the Mindestansparsumme required for an assignment is still not paid, must not exceed 25 per cent of the loan volume allowable pursuant to sentence 1.
(2) on the permissible under paragraph 1 quotas of loans, the legally pledged loans of this type are attributable to each to 50 per cent.
(3) the loan referred to in paragraphs 1 and 2 must have an expected maturity up to 48 months. Loans, which have an expected duration of more than 36 months, may not exceed 25 per cent of the quota referred to in paragraph 1 sentence 1.
(4) the Federal Agency for financial services supervision may allow exemptions from paragraphs 1 to 3 in special cases upon request.
§ 2 big savings (1) large accounts are accounts where the method is greater than the sum of EUR 300 000. The building of a construction saver completed twelve months considered a contract.
(2) the proportion of non-allocated large savings on the whole non-allocated method stock of the savings of a building society must be not higher than 15 per cent.
(3) the proportion of building, which will be completed within one calendar year, Association savings a agreements of large-scale on the entire method of the building completed by the building society this year may be no higher than 30 per cent.
(4) on the permissible under paragraphs 2 and 3 shares of large building Association savings agreements the savings are attributable to, on the customers has paid the Mindestansparsumme required for allocation of a within the first year after conclusion of the contract.
§ 3 commercial financing the share of loans, which are used to finance building projects of a commercial nature, shall not exceed 3 per cent of the total stock of accounts receivable loans of a building society.
§ 4 loans to associated companies (1) No. 7 of the building societies act may be loan total according to article 4, paragraph 1 up to 60 per cent of the equity of the building society.
(2) loan of the kind referred to in paragraph 1 may be granted total a single company where the building society is involved, up to 20 per cent of the equity of the building society.
§ 5 (dropped out) - section 6 loans against Declaration of commitment, Blankodarlehen (1) loans against Declaration of obligation according to § 7 paragraph 4 number 1 of the law on building societies or without fuse according to § 7 paragraph 4 paragraph 2 of the law on building societies may be granted in individual cases only up to the amount of 30 000 euros.
(2) overall, the percentage of all loans referred to in paragraph 1 shall not exceed 30 per cent in the total number of claims from a building society loans.
Limitation of not by mortgages the percentage of all loans for the replacement collateral according to § 7 paragraph 3 of the law on building societies are provided, as well as the loan according to § 6 paragraph 1 of this Regulation may secured loans total 45 per cent on the total number of claims from a building society loans not exceed § 6a.
§ 7 allocation conditions (1) in the General conditions for savings are minimum rating numbers or other suitable precondition to record that in the long term to a collective savers funds performance ratio of at least 1.0.
(2) the individual savers funds performance ratio must be at least 0.5 subject to paragraphs 3 and 4 at the time of the allocation. Can in the introduction of new tariffs or tariff characteristics the expected level of latency-limiting factors derived from empirical values for comparable rates are, the individual savers funds money must also be at least 0.7 in the case of payment of the minimum savings upon completion of the contract at the time of the allocation.
(3) the precondition can be used firmly notwithstanding paragraph 2, unless in a mass of Division of home savings tariffs in the long term, a collective savers funds performance ratio of at least 1.0 appears guaranteed.
(4) lead the precondition not indefinitely to a collective savers funds performance ratio of at least 1.0 or not only temporarily excessive values that arise for the collective savers funds money has the building society immediately to adjust the allocation requirements.
(5) the Federal Agency for financial services supervision may allow exceptions to the upper limit of the collective savers funds money in special cases upon request.
(6) the values for the collective savers funds money are to demonstrate the Federal Agency for financial services supervision each year for the previous calendar year.
§ 8 allocation to the Fund for the bausparen technical protection (1) the allocation to the Fund for the bausparen technical protection takes place annually at the end of the financial year and which is determined from the stocks temporarily not zuteilbaren Zuteilungsmittel (fluctuation reserve) to the calculation dates for determining the available Zuteilungsmittel of the past year according to § 6 paragraph 1 sentence 2 of the building societies Act. The feeding amount is from six tenths of the stocks of the fluctuation reserve, multiplied by the difference between except collective interest rate according to paragraph 2 and collective interest rate to calculate according to paragraph 3.
(2) the other than collective interest rate is either from the building society from the investments interest income according to § 4 section 3 of the law about building societies and the income from pre and interim financing loans pursuant to § 4 para 1 to calculate No. 1 of the law from building societies, or from the determined by the Deutsche Bundesbank and published yield of all included domestic bearer bonds. The chosen method may be changed only for important reasons.
(3) the collective interest rate is the interest rate that is balanced with the buzz-like proportions of the individual savings rate variants in the non-allocated portfolios of contracts for building society loan. In tariff variants, which lowest individual saving Kassen-performance ratio is at least 0.8, instead of the interest rate for building society loan, the interest rate on deposits plus 2.75 per cent to the approach can be fitted either.
§ 9 the resources of the Fund are use of the Fund to the bausparen technical protection (1) to use, as far as the allocation with a target score that leads to an individual savers funds performance ratio of 1.0 for rule savers, not can be maintained without feeding except collective resources to the mass of Division of (upper usage score). An in the general business principles to which uniform upper usage score, which is to determine according to the General conditions for accounts of those home savings collective variant, which in terms of buzz has the biggest share in the non-allocated portfolios of contracts and which lowest individual saving Kassen-performance ratio at the same time is less than 0.8 is considered for all home savings tariffs of a mass of of Division of.
(2) that the Fund can be used, as far as that referred to in paragraph 1 sentence 1 determined individual savers funds performance ratio 0.8 exceed would (lower usage score).
(3) the resources of the Fund can be used with the consent of the Federal Agency for financial services supervision before reaching the lower usage score insofar as this is necessary to ward off an urgent threat to maintaining the permanent allotment ability.
(4) the building society can extract from the Fund the amount that results when the mass of of Division of, an interest rate is applied except collective funds raised, is equivalent to the difference of the annual percentage rate for the non-collective funds raised and the collective interest rate (section 8, paragraph 3).
(5) the building society resolves to a fiscal year a portion of the allocation reserve reducing the profit tax, she can remove the Fund an amount of up to four tenths of the dissolved part of the reserve of of allocation of.
Section 10 transitional arrangements
With the accumulation of a minimum of 40 of the hundred and one monthly repayment contribution of 6 thousand of method precondition can be recorded in the standard rates offered on January 1, 1991 by way of derogation from § 7, which lead to a wait of at least 45 months when a deposit of minimum savings; in all other home savings tariffs is an individual savers funds money by at least 0.5. The proof of collectively balanced performance conditions (article 7, para. 1 and 4) must be submitted no later than January 1, 1996.
Article 11 entry into force, expiry this regulation enters into force on 1 January 1991.
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