(1) An institution that conducts banking business within the meaning of section 1(1), second sentence, points 1, 4, or 10, or provides financial services within the meaning of section 1(1a), second sentence, points 1 to 4, must inform customers who are not institutions, in its schedule of prices, of its membership of a scheme for protecting the claims of depositors and investors (protection scheme). The institution must, further, inform customers who are not institutions, before entering into the business relationship, in text form and in an easily understandable manner, unless the third to tenth sentences apply, of the provisions governing protection, including the scope and amount of the protection. Depositors confirm receipt of this information, in respect of their claims under section 5 of the Deposit Guarantee Act, on the information sheet contained in Annex I to this Act. Confirmation that the deposits are eligible deposits is given to depositors on their account statements, including a reference to the information sheet in Annex I. The website of the relevant deposit guarantee scheme is stated on the information sheet. The information sheet set out in Annex I is made available to the depositor at least once a year. Where a depositor uses internet banking, the information may be transmitted to the depositor electronically. It is made available in paper form at the depositor's request. The information given to the depositor may, for advertising purposes, refer only to the deposit guarantee scheme and how it works. Section 3(2) of the Deposit Guarantee Act applies correspondingly. Insofar as deposits and other repayable funds are not protected, the institution must draw attention to this fact in its general terms and conditions, in its schedule of prices, and in a prominent place in the contract documents, before entering into the business relationship, unless the repayable funds are embodied in Pfandbriefe, municipal debt securities, or other debt securities meeting the conditions of Article 52(4), first and second sentences, of Directive 2009/65/EC, as amended on 27 November 2019. The information in the contract documents under the eleventh sentence may not contain any other statements, and must be separately confirmed by the customers. The seventh and eighth sentences apply correspondingly. In addition, information on the conditions of protection, including the formalities required to assert claims for compensation, must be available on request.
(2) Where an institution ceases to belong to a protection scheme, it must inform, without delay and in text form, the customers who are not institutions, and the Federal Institute and the Deutsche Bundesbank, of this.
5.
Special duties