Association of German Banks represents the interests of the private banking industry and mediates between the interests of private banks, politics, administration, consumers and the private sector.
The Auditing Association’s main task is to reduce the risk for the statutory and voluntary deposit protection of the private banking sector.
The legally mandated deposit guarantee is covered by the EdB (Entschädigungseinrichtung deutscher Banken GmbH). For more information, visit the EdB website: www.edb-banken.de
Greensill Bank AG in bkcy is also part of the deposit protection fund of the Federal Association of German Banks (BdB). The amount of the secured deposits can be queried at any time via the website Einlagensicherungsfonds.de.
Since 1 October 2017, deposits of some professional clients (e.g. local authorities) are not covered by the deposit protection fund anymore.
The protection applies per customer for credit balances on demand as well as fixed term and savings deposits, including savings certificates in the customer’s name.
The deposit protection applies to deposits both in euros and foreign currency.