Support measures of recognised institutional protection schemes

(1) A recognised institutional protection scheme is entitled, in order to prevent the risk to the continued existence of a CRR credit institution belonging to it, to carry out measures to avert such a risk, in particular to secure the liquidity and solvency of that CRR credit institution, provided
1. the protection scheme has suitable mechanisms and procedures for selecting and carrying out such measures and for monitoring the associated risks,
2. the resolution authority has not taken a resolution measure under section 62 of the Recovery and Resolution Act,
3. the costs of that measure do not exceed the costs necessary to fulfil the tasks of the institutional protection scheme,
4. that measure is linked to conditions imposed on the supported CRR credit institution that include, compared with the existing provisions, at least stricter risk monitoring and more extensive examination rights for the recognised institutional protection scheme,
5. that measure is linked to a commitment by the supported CRR credit institution to ensure depositors' access to covered deposits, and
6. BaFin confirms, on the basis of an assessment, that the CRR credit institutions belonging to the institutional protection scheme are able to pay the special contributions to be levied under subsection (3). The scheme regulates the details in its articles. It liaises with BaFin on the measures and the conditions for the CRR credit institution.
(2) Where BaFin, after consultation with the resolution authority, determines that the conditions for a resolution measure under section 62 of the Recovery and Resolution Act are satisfied, the measures named in subsection (1) are not carried out.
(3) Where the recognised institutional protection scheme uses the available financial means for measures under subsection (1), it must ensure that the CRR credit institutions belonging to it make available again, without delay, if necessary through special contributions, the funds used for the measures, where
1. depositors must be compensated and the available financial means amount to less than two-thirds of the target level under section 17(2), or
2. the available financial means fall short of 25 per cent of the target level under section 17(2).