Deposit Protection

Since 1 January 2022, HCOB is assigned to the Compensation Scheme of German Banks (Entschädigungseinrichtung deutscher Banken GmbH) (EdB). EdB is entrusted with the task of acting as the statutory compensation scheme for all CRR credit institutions assigned to it.
The EdB generally protects deposits up to EUR 100,000 per HCOB depositor.

Since 1 January 2022, HCOB also voluntarily participates in the Deposit Protection Fund of the Association of German Banks (Einlagensicherungsfonds des Bundesverbands deutscher Banken e.V.) (ESF).
In accordance with its By-laws, the ESF protects deposits of certain HCOB customers, subject to the exceptions provided for therein. The protected deposits are mainly demand, time and savings deposits.
Deposits included in the Bank's own funds, liabilities from bearer and registered bonds as well as deposits from credit institutions, financial institutions, securities firms and local authorities are not protected.

The following shall further apply to the protection in the Deposit Protection Fund:

  • Deposits by creditors other than natural persons and foundations with legal capacity are only protected if
    i. the deposit is not a liability arising from a registered bond or a promissory note , and
    ii. the term of the deposit does not exceed 18 months.
    Deposits which already existed before 1 January 2020 shall not be subject to the limitation of term.
    After 31 December 2019, the “grandfathered” status under the preceding sentence shall cease to apply as soon as the deposit in question falls due, can be terminated or otherwise reclaimed, or if the deposit is transferred by way of individual or universal succession in title.
  • Liabilities of banks that already existed before 1 October 2017 shall in principle be protected in accordance with and under the conditions laid down in the provisions of the By-laws of the Deposit Protection Fund applying until 1 October 2017. This does not apply to liabilities of Hamburg Commercial Bank AG, as the bank was not yet participating in the Deposit Protection Fund at that time.
  • The protection ceiling for each creditor is, until 31 December 2019, 20%, until 31 December 2024, 15% and, as of 1 January 2025, 8,75% of the Bank’s own funds within the meaning of Article 72 of Regulation (EU) No. 575/2013 used for deposit protection purposes. Deposits established or renewed after 31 December 2011 shall be subject to the respective new protection ceilings as of the aforementioned dates, irrespective of the time when the deposits are established. Deposits established before 31 December 2011 shall be subject to the old protection ceilings until maturity or until the next possible termination date. These protection limits can be found on the Internet at www.en.bankenverband.de or can also be obtained from HCOB.

    With regard to further details of the protection, reference is made to § 6 of the By-laws of the Deposit Protection Fund , which will gladly be made available upon request. Furthermore, it is pointed out that the BdB announced a reform of the protection in the Deposit Protection Fund on 8 December 2021. We will provide information on the amended scope of protection, which will affect all members of the ESF equally, in due course.