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Source: BUS Sachsen-Anhalt (Linie6PLus)

Applying for the establishment of a savings bank

Description

A permit is required for the establishment of a savings bank. Savings banks may only be set up and operated by local authorities and special-purpose associations.

Savings banks may establish branches in the territory of their sponsor. The establishment of a branch is subject to the approval of the supervisory authority. If the branch is established in the territory of another institution, the latter shall be heard beforehand.

The text was automatically translated based on the German content.

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