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Bank quake: How safe is my money?


The bank quake in the USA and Switzerland shook the financial markets. Concern is also growing among savers. Many ask themselves: How safe is my money?

The bank quake in the USA and Switzerland shook the financial markets.

Concern is also growing among savers.

Many ask themselves: How safe is my money?

Munich - The collapse of the Silicon Valley Bank (SVB) has unforeseen consequences for the capital markets.

Even more than a week after the collapse of the SVB, the situation is tense.

But what does this development mean for investors and savers in Germany?

What are the consequences for stocks, bonds or savings?

An overview.

What is my account at risk?

At the moment it doesn't look like a German bank could get into trouble.

Chancellor Olaf Scholz (SPD) agrees, who recently assured German savers in an interview that their deposits were safe.

What if a bank goes bankrupt?

In this case, there is the so-called statutory deposit insurance.

There is protection for individuals within the European Union for up to 100,000 euros.

For married couples with a joint account, it is up to 200,000 euros.

This protection applies per bank and includes current accounts, call money and time deposits.

And what about amounts beyond that?

Some German banks advertise that higher amounts are also protected - namely via the voluntary deposit protection fund of the Association of German Banks (BdB).

Savings banks and cooperative banks also promise to support each other in emergencies.

"Consumers should not necessarily rely on such promises," says Niels Nauhauser from the Baden-Württemberg consumer center to the



Savers should definitely split amounts of more than 100,000 euros between several institutes.

What about stocks, bonds and funds?

The following applies to stocks, bonds and investment funds: the bank only keeps them in custody.

However, they belong to the investor and are a so-called special asset on the bank's balance sheet.

That means: If the bank goes bankrupt, shares & Co. do not belong to the insolvency estate.

Affected customers can then have their investments transferred to a custody account at a new bank.

What about money abroad?

First of all, deposit protection applies in all member states of the European Union.

The money should be secured.

Consumer advocate Niels Nauhauser still advises caution.

In the event of a bank failure, the payment is made via the national security systems, so the savers are dependent on the respective country.

"Anyone who wants the highest level of security should only invest their money with institutions that are protected by the German statutory deposit insurance system," says Nauhauser.

Information on this can be found on the website of the compensation scheme for German banks.

Source: merkur

All news articles on 2023-03-21

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