Volksbank Wittingen-Klötze eG

Address  29378, Germany, Wittingen, Lange Str. 25
P.O. Box  1128

Member of Group  DZ Bank (Germany)
Bank Identifiers 
    MFI ID  DE02664
Credit Ratings (July 2014) 
    Fitch  A+ (high credit quality)
    Moody's  - (not rated)
    S&P's  AA- (very strong capacity to meet its financial commitments)
Deposit Guarantee  Yes (up to 100 000 EUR per depositor)

Volksbank Wittingen-Klötze eG located at Germany, Wittingen is a member of a banking group DZ Bank (Germany). It is one of 1822 credit institutions operating in Germany.

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

MFI ID  DE02664

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

Credit Ratings

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.
Of the 'Big Three' rating agencies, Volksbank Wittingen-Klötze eG is rated by Fitch and Standard & Poor's.

Credit ratings assigned to Volksbank Wittingen-Klötze eG as of July 2014 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution’s relative vulnerability to default on its financial obligations, for Volksbank Wittingen-Klötze eG it is set to A+ (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Volksbank Wittingen-Klötze eG is set to F1+ (highest short-term credit quality).

Long-Term Issuer Default Rating  A+
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F1+
Viability Rating  -
Support Rating  -
Support Rating Floor  -

Viability rating for Volksbank Wittingen-Klötze eG is not set; support rating is not assigned; support rating floor is not set.

Standard & Poor's

Long-term foreign currency rating for Volksbank Wittingen-Klötze eG is set to AA- (very strong capacity to meet its financial commitments). Long-term local currency rating is set to AA- (very strong capacity to meet its financial commitments).

Long-Term Foreign Currency Rating  AA-
Long-Term Local Currency Rating  AA-
Short-Term Foreign Currency Rating  A-1+
Short-Term Local Currency Rating  A-1+

Short-term foreign currency rating for Volksbank Wittingen-Klötze eG is set to A-1+ (strong capacity to meet its financial commitments). Short-term local currency rating is set to A-1+ (strong capacity to meet its financial commitments).

Deposit Guarantee

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Germany are obliged to participate in German deposit guarantee scheme.

In the case of Volksbank Wittingen-Klötze eG failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Covered Accounts  all deposit accounts (deposits on current accounts and savings accounts, overnight money or time deposits, registered savings bonds, and similar)
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information: Deposit Guarantee Scheme in Germany

ECB Minimum Reserves Requirements (MRR)

Minimum reserves is the minimum amount of reserves a credit institution is required to hold with a central bank.

Subject to MRR by ECB  Yes
Exempt from MRR by ECB  No

Related Information on Germany

Economy and Banking Sector of Germany

List of Banks in Germany