OWNERSHIP STABILIZATION OF SAVINGS BANKS BY FOUNDATIONS

  • Holger Blisse Independent researcher, Wien
Keywords: savings banks, ownership, foundation, Austria, Italy

Abstract

Foundations have recently played a specific role in the transformation of savings banks to joint stock companies (corporations) in Europe. The current discussion about the recovery and resolution of credit institutions and the growing responsibility of depositors in the event of bankruptcy, shifts the risk from the banking industry to a group that traditionally was never affected. As a support, and also as security for depositors of risk-sensitive and risk-responsible credit institutions, the group of owners becomes even more relevant. Within groups that are possible, a foundation, as owner, can intensify stability and signalize risk awareness and responsibility. This paper analyzes the innovative aspects and positive effects of a savings bank’s foundation as well as the problems of retaining typical features of a savings bank.

References

Arnold, N. (2013). Privatstiftungsgesetz – Kommentar. 3rd ed., Wien: LexisNexis.

Bankwesengesetz (Bundesgesetz über das Bankwesen – BWG) (2016). Version of BGBl. Nr. 639/1993, latest amendment by BGBl. I Nr. 50/2016. Retrieved from https://www.ris.bka.gv.at.

Blisse, H. (2016). Die Stiftung als Eigentümerin einer Sparkasse oder Bank – Erhalt institutioneller Vielfalt im Bankensystem. Zeitschrift für Stiftungs- und Vereinswesen, 14(1), 1-8.

Ciampi Act (Legge 23 dicembre 1998, n. 461) (1998). Retrieved from http://www.camera.it/parlam/leggi/98461l.htm.

Dellinger, M. (Ed.) (since 2007). Bankwesengesetz – Kommentar. Wien: LexisNexis.

Engerer, H., & Schrooten, M. (2004). Erfolgreiche Sparkassenreformen in Europa. Wochenbericht des DIW Berlin 24/04. Retrieved from http://www.diw.de/deutsch/wb_24/04_erfolgreiche_sparkassenreformen_in_europa/31182.html#FN2

Fries, C. (1998). Von der Sparkasse zur Stiftung. Bankarchiv – Zeitschrift für das gesamte Bank- und Börsenwesen, (8), 621-628.

Fries, C. (1999). Die Gestaltung der Sparkassen-Privatstiftung. Bank-Archiv (ÖBA), (5), 359-365.

Hein, M. (Ed.) (1995). Bankensysteme in Ostmitteleuropa. ROW-Schriftenreihe 8. Berlin: Berlin-Verl. Spitz, Wien: Verl. Österreich.

Klein, D. K. R. (2003). Die Bankensysteme in Mittel- und Osteuropa. Frankfurt am Main: Knapp.

Kreditwesengesetz (KWG) (1979 to 1993). Replaced by Bankwesengesetz – BWG.

Perl, E. (2005). Die Sparkassen-Privatstiftung. Juristische Schriftenreihe 211. Wien: Verl. Österreich.

Sparkassengesetz (Bundesgesetz vom 24. Jänner 1979 über die Ordnung des Sparkassenwesens – SpG) (2016). Version of BGBl. Nr. 64/1979, latest amendment by BGBl. I Nr. 43/2016. Retrieved from https://www.ris.bka.gv.at.

Strachwitz, R. (2005). Die Wohltäter der italienischen Bankenwelt. Handelsblatt, (117), 24.

Published
2016-09-21