Definitions

(1) Deposit guarantee schemes within the meaning of this Act are
1. statutory compensation schemes under section 22(2), and
2. institutional protection schemes recognised as a deposit guarantee scheme under section 43.
(2) An institutional protection scheme within the meaning of this Act is a liability arrangement within the meaning of Article 113(7) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
(3) Deposits within the meaning of this Act are credit balances, including fixed-term deposits and savings deposits, that
1. result from amounts left in an account or from temporary situations arising from normal banking transactions, and
2. the CRR credit institution is required to repay under the applicable statutory and contractual conditions. A credit balance is excepted from deposits under the first sentence where
1. the existence of that credit balance can be proven only by a financial instrument within the meaning of section 2(4) of the Securities Trading Act, unless it is a savings product evidenced by a certificate of deposit made out to a named person and already existing as at 2 July 2014,
2. the credit balance is not repayable at par, or
3. the credit balance is repayable only under a particular guarantee or agreement provided by the CRR credit institution or by a third party. Liabilities of a CRR credit institution arising from securities transactions are also deemed deposits within the meaning of this Act, where the CRR credit institution also holds a licence to conduct the banking business under section 1(1), second sentence, nos. 4 and 10 of the Banking Act, or to provide financial services within the meaning of section 1(1a), second sentence, nos. 1 to 4 of the Banking Act, insofar as the CRR credit institution's liabilities consist in providing customers with possession of or title to money.
(4) Eligible deposits of a CRR credit institution within the meaning of this Act are all deposits except the deposits not eligible for compensation under section 6.
(5) Covered deposits of a CRR credit institution within the meaning of this Act are the parts of eligible deposits that do not exceed the coverage level under section 8.