Deposit guarantee scheme is a financial stability mechanism
implemented in many countries to protect bank depositors against the loss of their deposits
in the case when a bank is unable to meet its obligations to depositors
by compensating certain deposits held by depositors of the bank.
This compensation is paid out from the contributions which banks have made
into a deposit guarantee fund.
Deposit Guarantee in LfA Förderbank Bayern
All credit institutions operating in Germany are obliged to participate
in German deposit guarantee scheme.
LfA Förderbank Bayern is a member of Entschädigungseinrichtung des Bundesverbandes Öffentlicher Banken GmbH (EdOe) and makes its contributions into it. In the case of LfA Förderbank Bayern failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
Temporary High Balance
individuals partnerships companies of any size
credit institutions financial institutions investment firms public authorities
all deposit accounts, including
term deposit accounts
overnight money or time deposits
registered savings bonds
all currencies, namely
Paid In Currency
Entschädigungseinrichtung des Bundesverbandes Öffentlicher Banken GmbH (EdOe)