Erscheinung:12.02.2016 | Topic Measures BaFin determines that compensation is payable to depositors of Maple Bank GmbH
On 11 February 2016, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) determined that compensation is payable to depositors of Maple Bank GmbH since the institution was no longer able to repay all its customers' deposits.
Previously, on 10 February 2016, BaFin had filed a petition to open insolvency proceedings for Maple Bank GmbH at the Local Court (Amtsgericht) of Frankfurt am Main; the Local Court consequently opened insolvency proceedings on 11 February 2016 and appointed an insolvency administrator.
The deposits of customers of Maple Bank GmbH are protected under the German Deposit Guarantee Act (Einlagensicherungsgesetz). The institution belongs to the Compensation Scheme of German Banks (Entschädigungseinrichtung deutscher Banken GmbH – EdB). BaFin's determination that compensation is payable meets the statutory conditions for the EdB to check depositors' claims and satisfy them up to a maximum of EUR 100,000 – and in exceptional circumstances up to a maximum of EUR 500,000. The EdB will contact the institution's creditors in the near future.
Maple Bank GmbH is also a member of the Deposit Protection Fund of the Association of German Banks (Einlagensicherungsfonds des Bundesverbandes Deutscher Banken e.V.). In accordance with its statute, this Deposit Protection Fund assumes the part of the deposits exceeding the statutory limit – up to the respective protection limit.
Contact:Oliver Struck
Head of Press and Public Relations
Phone: +49 (0) 228 4108-2410
E-mail: oliver.struck@bafin.de
Contact: Daniel Mestek (Creditors)
Contact for creditors
Phone: +49 (0) 228 4108-3787
E-mail: daniel.mestek@bafin.de
