Bank branches

Banking in the banking sector of Germany, in § Abs

of the German banking act (KWG) are exhaustively enumerated types of business, including, in particular, securities transactions, credit transactions, payment transactions and deposits transactionsAll banking transactions are defined in the context of a legal definition in terms of content and scope in the banking act. Companies that want to conduct banking operations in Germany, need according to § KWG, a permit of the banking Supervisory authority BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht). Of the Bank transactions, the financial services according to § Abs. of the KWG defined to include, inter alia, investment brokerage and investment advice. To define the business purpose of a credit institution or financial services institution, has chosen the German banking supervision law, the individual Bank's typical transaction types in the context of a final Listing in section one, Para. a KWG. Banking transactions may apply in order to legally as a specific legal term. Because of the final enumeration, the legislature is by enumerative listing to see clearly, to permit the extension of the application range in a similar, non-referred cases.

It belongs to, then this has legal consequences

As a result, the enumeration of the exclusion has effect for all not covered by the scheme facts and can't be by design expanded. This brings the stakeholders, legal certainty, either because a specific business is part of banking operations or not. An official permission by the BaFin pursuant to section Para. one set of one of the KWG, anyone wishing to conduct banking business commercially or on a scale which requires a commercially organised business undertaking, in the domestic market. According to the wording and the General scheme of the regulation of the conduct satisfies one of the Bank shops.

one For the commercial operation of the Bank's business is sufficient, that it is for profit, and on certain duration is applied.

two To Operate a banking business is not only the conclusion and execution of the sentence, two of the KWG rules listed legal transactions, but the key to the Treaty is part of the conclusion of the afferent steps.

three of The term of the operation is borrowed from the General commercial law. There he covers the law, business activities also on other business and advertising activities to ensure effective business supervision. four According to the regulatory purpose of § calls for thirty-two, Para. one set of one KWG, the Federal administrative court, according to an interpretation of the operating term, all for the preparation and the condition of the specific banking business are the main steps to be detected. For this purpose, the permit reservation not only at the conclusion of individual legal transactions, but captures the entire business, including the preparation of the specific contract. The provision thus includes a preventive prohibition and subject to Permission, the apply for preparatory acts-to-Bank transactions. The strict regulation is aimed at maintaining the function and integrity of the German credit and financial markets, whereby the customers will be protected (protection of creditors). This protection of creditors extends beyond the securing of Liquidity and in § Abs. two of the KWG-called investor protection, but also on the economically important function of credit granting. The conduct of banking operations is therefore closely linked to the granting of a banking license, which allows constant supervision of the credit system. Financial Commission business is the purchase and sale of financial instruments (e.g. shares or bonds) in its own name and for the account of others.

The investment business can be used as a The banking business will also be operated by universal banks (§ Abs, a, four and five of the KWG), but also as an investment business specialised capital management companies in accordance with § Abs.

nine-ten no twenty-four KAGB. These capital management companies and the investment business operated loan, institutions are required to colloquially as the investment banks combined. The collective asset management encompasses, according to section one KAGB portfolio management, risk management, administrative activities, and sales of own shares for investment purposes and in the case of AIF activities (Alternative investment funds AIF) in connection with the assets of the AIF. In addition, you may not, in particular the financial portfolio management and investment advice for financial instruments (section one, Para.

eleven of the KWG) and the securities custody business.

The capital management companies operated investment business in section of the KAGB are exhaustively enumerated Shops.

The main task in the investment business consists of investment advice, the acceptance of securities orders, whose disclosure to the stock exchange, and the Result of a custody account.

Capital management companies are considered to be specialized banks, five because you are not allowed to operate significant banking transactions.

Issuing business is the Acquisition of financial instruments at one's own risk for placement (Emission), or the Assumption of equivalent guarantees (see the consortium's business, or underwriters). This includes all types of credit, the main groups of money-lending and credit lending (see also loan, loan agreement, lender). Guarantee business is the Assumption of sureties, guarantees and other Warranties for others. The discount business was the purchase of bills of exchange and cheques, since December, it is operated by credit institutions.

E-money business-the issue and administration of electronic money (e.g.

prepaid cards, credit cards) according to § Abs. two set two ZAG. The Deposit-taking business is the acceptance of funds as deposits or other repayable funds from the public unless the claim to repayment is not in bearer or the order is securitized bonds, without regard to whether interest will be paid (for example, savings deposits, demand deposits, time deposits or certificates of Deposit). The loan of acquisition of business is the entering into the commitment to purchase the loan receivables prior to their due date. It is considered to be banking business under time aspects, four types can be distinguished. The undertaking business is closed today. The Austrian banking act (BWG) in January, as the German KWG, to the credit institution, who is entitled to conduct banking operations (section one of the BWG). There are twenty Bank is one of the following transactions, their industrial Operate automatically by means of a concession, the financial markets authority FMA in accordance with section four, Para. one of the BWG needs. The Swiss banking law (banking) from November In, the irrefutable presumption that someone, the Bank conducts business, automatically, a credit institution is not familiar with. It is the law under the control of banks, private bankers (individual company, rather, in art. one Bank, collective and limited partnerships) and savings banks, which require, under article three of the Bank's authorisation of the Supervisory authority FINMA.