2023-08-14 16:56:11
This year, German banks will have to pay significantly less money into the European fund to rescue financial institutions in trouble. The financial supervisory authority BaFin announced on Monday that it had levied a bank levy totaling 2.63 billion euros for 2023 from 1,265 financial institutions that were subject to contributions. That is 22 percent less than last year.
At the end of June, the money flowed into the Single Resolution Fund, which was set up after the financial crisis to resolve ailing banks in the European Banking Union in an orderly manner. According to BaFin, this now amounts to 77.6 billion euros. As planned, the fund will have reached its target volume of one percent of covered deposits in Europe by the end of the current year.
EU-wide, the bank levy in the current year amounted to 11.3 billion euros, which were paid by 2,777 institutes. The bank levy is based on the growth in deposits at the institutions, which had skyrocketed in the years of the corona pandemic.
Dennis Kremer Published/Updated: , Recommendations: 29 Markus Frühauf Published/Updated: , Recommendations: 61 Dennis Kremer Published/Updated: , Recommendations: 12
As usual, the lion’s share of the bank levy in Germany went to large and regional banks such as Deutsche Bank and Commerzbank. At 1.55 (2022: 2.03) billion euros, they also had to pay significantly less than a year earlier. Landesbanken and central institutions of the savings banks and cooperative banks such as DZ Bank had to pay EUR 433 (560) million, the savings banks themselves EUR 306 (368) million and the cooperative banks EUR 192 (226) million.
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