A group company (intra-corporate operating unit) that provides financial services exclusively within the group (corporate group) within the parent, subsidiary and sister companies. – Until now, such companies have generally not been considered credit institutions or financial services institutions under German supervisory law; see Sec. 2, para. 1 KWG, № 7: not a credit institution)and para. 6, № 5: not a financial services institution. – See autobank, internal financing, credit rating deterioration, group-related, corporate bank, credit, intra-group, corporate group, horizontal. – Cf. Bafin Annual Report 2010, p. 148 (Siemens Bank GmbH receives permission to conduct banking business), p. 152 f. (problems with Valovis Bank, part of the insolvent Karstadt Group), Deutsche Bundesbank Monthly Report of January 2012, p. 19 (groups finance their foreign branches).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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