Inhalt
Transfer order
Whereas the FMSA provided stabilisation assistance under the Financial-Market Stabilisation Fund
Act under certain conditions and upon application up until 31 December 2010, the Restructuring Fund
Act currently envisages a two-stage procedure for restructuring and reorganising credit
institutions. First, distressed banks are given the opportunity to initiate the reorganisation
procedure for credit institutions voluntarily. If they choose not to do so, the supervisory
authorities can take steps to protect the systemically important component of the institution, in
particular, by transferring the systemically important components of the distressed institutions to
an existing bank or a bridge bank established by the FMSA. This bridge bank maintains and
restructures the systemically important components of the business. The non-systemically important
assets that remain with the transferring institution can, where necessary, be liquidated through
insolvency proceedings.
If a transfer order entails measures by the Restructuring Fund, the Steering Committee should
decide on these measures at the same time as approving the transfer order. There shall be no legal
entitlement to benefits from the Fund.