Entschadigungseinrichtung deutscher Banken (EdB) is a private institution legally responsible for guaranteeing the deposits of account holders at German banks, wholly owned by the Federal Association of German Banks. It was established on August 24, 1998 under Germany's deposit and depositor protection law, guaranteeing the statutory 100,000 euro coverage per account holder per bank, with that protection scheduled to rise to 437,500 euros beginning January 1, 2025. It has managed compensation claims arising from multiple German banking crises, including those of IKB, Hypo Real Estate and Dusseldorfer Hypothekenbank, and during the 2008 financial crisis it received government support through SoFFin guarantees to raise 6.7 billion euros.
Facts
Geography
Country or Jurisdiction ServedWikidata Q1300176, property P17 (country). Founding Year Founding Date Classification
Institution Subtype In the Other Atlases
- Also in Geography Atlas: Germany, located there.
Sources
1. Entschadigungseinrichtung deutscher Banken, Wikipedia
History
The EdB was established on 24 August 1998 in compliance with the deposit and depositor protection law (EAEG).
History, year
The EdB was established on 24 August 1998 in compliance with the deposit and depositor protection law (EAEG).
View the Source2. Wikidata
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