Einlagensicherung und Anlegerentschädigung

The European minimum requirements for deposit insurance and investor protection schemes save private customers from losses in consequence of a financial intermediary insolvency. The sustainability of the German schemes has been challenged by insolvencies of financial intermediaries. With a view to the ongoing financial market crisis future action should focus on improving the effectiveness of the schemes as far as possible. Jochen Bigus and Patrick C. Leyens consider risk sensitive contributions by financial intermediaries as a general approach towards more efficient schemes. In consideration of alternative reforms, the authors recommend a modest inter-scheme support, the re-allocation of financial intermediaries with extremely high risks to a financially reliable scheme, the ex ante definition of maximum annual contributions, a mandatory fidelity insurance and improvements in auditing.