Savings bank in older documents also Sparkassa (savings bank, until about 1880

penny bank): Bank primarily engaged in the deposit-taking and management of savings deposits. In Germany, savings banks were originally founded by cities and counties from around 1820 onward to enable the secure and interest-bearing investment of small sums of money for the less well-off sections of the population. Until July 2005, the guarantors (cities, counties) were liable for any debts of the institutions. For protection of designation in Germany, see § 40 KWG. – During the financial crisis that followed the subprime crisis, savings banks proved to be risk shielding and thus stabilizing for the financial system – because of their local roots, – because of their broad deposit funding, namely very many accounts of regular income earners and savers, and – because of the generally small size of the institutions. – In 2013, the savings banks had a market share of about thirty-two percent – based on business volume in Germany. – See event marketing, guarantor liability, giro center, Landesbank, name identity, penny bank, retail business, savings bank. – See BaFin Annual Report 2002, p. 64; BaFin Annual Report 2003, p. 93 f.; BaFin Annual Report 2004, p. 110 ff.; BaFin Annual Report 2007, p. 120 (number of savings banks 1998 to
2007), pp. 211 f. (alleged EU savings banks: BaFin’s prohibition order), BaFin Annual Report 2008, p. 114 (overview: number of savings banks 1999 to 2008; merger process), BaFin Annual Report 2009, pp. 128 f. (further mergers of savings banks; statistics since 1999), BaFin Annual Report 2010, pp. 145 (number continuing to decline due to mergers), BaFin’s 2011 Annual Report, p. 149 (number of institutions continues to decline; p. 159 f.: impact of Basel III on savings banks), BaFin’s 2013 Annual Report, p. 93 (number of savings banks 2003-2013), and the respective BaFin Annual Report, chapter “Supervision of Banks, Financial Service Providers, and Payment Institutions.”

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