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Green light for bank levy


HB BERLIN. The bank levy, a 70 billion-euro fund, the jump in the future in case of crisis. In the fund must pay nearly all German banks – including savings banks and cooperative banks. Exceptions are made only for development banks and the Agricultural Bank pension. In addition, there is a future salary cap of € 500 000 per year for all employees of state-based banks. So far this scheme was only for Board members, which meant that some employees in investment banking earned more than the top managers.

For banks, in which the State holds more than 75 percent, and bonuses and other variable incentives deleted entirely. The new bankruptcy procedures should ensure that "systemically important" banks to be implemented without major disruptions in financial markets. Among other things, receives financial supervision, the possibility of a bank if necessary to crush. Further, the liability period for breaches of the management of five will be doubled to ten years. This applies not only – as originally planned – for listed institutions, but also for regional banks, credit unions and savings banks.