(1) Unless otherwise provided for by the provisions of this Subdivision, credit institutions are to draw up, independently of their size and even if they are not operated in the legal form of a share capital company, consolidated financial statements and a consolidated management report in accordance with the provisions of Subdivision 2 of Division 2 governing the consolidated financial statements and consolidated management report. Additional requirements based on provisions that exist due to the legal form remain unaffected.
(2) Sections 340a to 340g governing annual financial statements and the provisions applying to the legal form and the line of business of the enterprises included in the consolidated financial statements that have their seat in the territorial scope of this statute are to be applied accordingly to the consolidated financial statements unless their nature calls for a deviation, insofar as they apply to large share capital companies. Sections 293, 298 (1), section 314 (1) nos. 1, 3, 6 (c) and 23 do not apply. In the cases governed by section 315e (1), the only provisions set out in subsection (1) that apply are sections 290 to 292 and section 315e; sentences 1 and 2 of this subsection as well as section 340j do not apply. Insofar as section 315e (1) refers to section 314 (1) no. 6 (c), the latter’s stead will be taken by section 34 (2) no. 2 read in conjunction with section 37 of the Ordinance on Financial Reporting by Credit Institutions in the version as published on 11 December 1998 (Federal Law Gazette I p. 3658), last amended by Article 8 paragraph (13) of the Act of 17 July 2015 (Federal Law Gazette I p. 1245), as amended. In all other regards, the Ordinance on Financial Reporting by Credit Institutions does not apply in the cases governed by section 315e (1).
(3) Parent enterprises, the sole object of which is to acquire participating interests in subsidiary enterprises and to manage such participating interests and turn them to profit, also will be considered credit institutions within the meaning of this Title if all of said subsidiary enterprises or the majority of them are credit institutions.
(4) Insofar as credit institutions draw up consolidated interim financial statements that are to be subjected to an auditor’s review in order to identify consolidated interim profits or losses within the meaning of Article 26 (2) read in conjunction with Article 11 of Regulation (EU) No 575/2013, the accounting standards applicable to consolidated financial statements are to be applied to the consolidated interim financial statements. The provisions governing the appointment of the statutory auditor are to be applied accordingly to the auditor’s review. The auditor’s review is to be structured such that, assuming professional due diligence is applied, it can be ruled out that the interim financial statements contradict the accounting standards in material ways. The statutory auditor is to summarise the results obtained by the auditor’s review in a certification. Section 320 and section 323 apply accordingly.
(5) A credit institution that is a parent enterprise (section 290) is to supplement the consolidated management report by a consolidated non-financial statement if the enterprises to be included in the consolidated financial statements fulfil the following criteria:
1. They do not meet the pre-requisites for an exemption stipulated in section 293 (1) sentence 1 number 1 or 2 based on the enterprise’s size, and
2. they employ a total of more than 500 employees (average for the year).
Section 267 (4) to (5), section 298 (2), section 315b (2) to (4) and section 315c apply accordingly. Where the consolidated non-financial statement constitutes a separate chapter of the management report, the credit institution may refer to the non-financial information included elsewhere in the consolidated management report.
(6) A credit institution that is to prepare a consolidated corporate governance statement pursuant to subsection (1) read in conjunction with section 315d is to include in it the information stipulated by section 315d read in conjunction with section 289f (2) no. 6 if the enterprises to be included in the consolidated financial statements do not meet the pre-requisites for an exemption stipulated by section 293 (1) sentence 1 no. 1 or 2.