Scope and calculation of the claim to compensation

(1) The depositor's claim to compensation is determined by the extent of its eligible deposits and is limited in amount to the coverage level under section 8.
(2) In calculating the amount of the claim to compensation, the amount of the eligible deposits at the occurrence of the compensation event, including claims to interest on eligible deposits up to the time the compensation event is determined under section 10(1), is to be applied.
(3) The coverage level under section 8 relates to the depositor's aggregate claim against the CRR credit institution under subsection (2), irrespective of the number of accounts, the currency and the place where the accounts are held.
(4) For an account opened in the name of two or more persons, or in which two or more persons have rights that can be exercised by the signature of one or more of those persons (joint account), the respective share of the individual account holder is decisive for the coverage level under section 8. In the absence of special provisions, the deposit is attributed to the account holders in equal shares.
(4a) Where the account holder acts for the account of a third party, the third party is decisive for the coverage level under section 8, provided the account is clearly designated in the account name as an open trust account, or should have been so designated, and the existence of the trust relationship is proven.
(5) For accounts held in the name of a community of residential property owners, subsection (4) applies accordingly, with the proviso that the members of the residential property owners' community are deemed the account holders.
(6) Where several persons are unrestrictedly entitled to use an eligible deposit, subsection (4) applies accordingly.
(7) Compensation is granted in euro. Where a depositor's accounts are held in a currency other than euro, the European Central Bank's reference rate on the day on which BaFin determined the compensation event under section 10(1) is used as the exchange rate. Where no European Central Bank reference rate is available, the mid-rate derived from ascertainable buying and selling rates on the relevant date is to be applied for the conversion.
(8) CRR credit institutions are obliged to provide the deposit guarantee scheme, on request, at any time, with all information it needs to prepare a compensation, including information on the total eligible deposits of the individual depositors. For that purpose, eligible deposits are to be marked in such a way that they can be immediately ascertained for each individual depositor. The CRR credit institution must provide the deposit guarantee scheme with the data necessary for compensating creditors, in machine-processable form, in accordance with the deposit guarantee scheme's specifications.