(1) The cover prescribed in section 12(1) may also be effected 1. under a general ruling issued under section 4b(5), up to a total of 8 per cent of the total amount of outstanding mortgage Pfandbriefe, by claims to the amount payable uniformly to the Pfandbrief bank upon early termination of the master agreement for a derivative transaction concluded with a counterparty under section 4b(4) no. 4 under the conditions named there; 2. up to a total of 10 per cent of the total amount of outstanding mortgage Pfandbriefe a) by monetary claims, provided the amount of the Pfandbrief bank's claims is already known at the time of acquisition, their satisfaction is not conditional, contractually subordinated to other claims or otherwise restricted, against credit institutions that satisfy the conditions of section 4(1), third sentence, no. 3 and to which a risk weight corresponding to credit quality step 2 has been assigned, b) by respective credit balances from an account relationship with the credit institutions named in letter a), c) by claims to the amount payable uniformly to the Pfandbrief bank upon early termination of the master agreement for a derivative transaction concluded with a credit institution that satisfies the conditions of section 4(1), third sentence, no. 3 and to which a risk weight corresponding to credit quality step 2 has been assigned; 3. up to a total of 15 per cent of the total amount of outstanding mortgage Pfandbriefe a) by cover assets of the kind named in section 4(1), third sentence, no. 1, provided they are not debt securities, b) by monetary claims, provided the amount of the Pfandbrief bank's claims is already known at the time of acquisition, their satisfaction is not conditional, contractually subordinated to other claims or otherwise restricted, aa) against the European Central Bank, bb) against central banks of the Member States of the European Union or other contracting states to the Agreement on the European Economic Area, or cc) against credit institutions that satisfy the conditions of section 4(1), third sentence, no. 3 and to which a risk weight corresponding to credit quality step 1 has been assigned, c) by respective credit balances from an account relationship with the bodies named in letter b), d) by claims to the amount payable uniformly to the Pfandbrief bank upon early termination of the master agreement for a derivative transaction concluded with aa) the Federation, bb) a Land, or cc) a credit institution that satisfies the conditions of section 4(1), third sentence, no. 3 and to which a risk weight corresponding to credit quality step 1 has been assigned; 4. up to a total of 20 per cent of the total amount of outstanding mortgage Pfandbriefe by cover assets of the kind named in section 20(1), provided they are debt securities. For the cover under the first sentence, no. 2, the cover assets named in the first sentence, no. 1 must be counted. For the cover under the first sentence, no. 3, the cover assets named in the first sentence, nos. 1 and 2 must be counted. For the cover under the first sentence, no. 4, the cover assets named in the first sentence, nos. 1 to 3 must be counted. The share of monetary claims under the first sentence, nos. 1 to 3, including as a respective credit balance from an account relationship, and claims to the amount payable uniformly to the Pfandbrief bank upon early termination of the master agreement for a derivative transaction against a credit institution or credit institutions belonging to the same group within the meaning of section 10a(1), first sentence or (2), first sentence of the Banking Act, may not exceed 2 per cent of the total amount of outstanding mortgage Pfandbriefe. For monetary claims under the first sentence, no. 2(a), including in conjunction with the first sentence, no. 2(b), and under the first sentence, no. 3(b), double letter (cc), including in conjunction with the first sentence, no. 3(c), arising from the payment settlement of cover assets, section 4(1), third sentence, no. 3(c) does not apply. Section 20(3) applies accordingly.
(2) In the case of section 2(3), BaFin may permit exceptions from the limits under subsection (1), first sentence, no. 3(a) and (b), double letters (aa) and (bb), including in conjunction with letter (c), and under subsection (1), first sentence, no. 3(d), double letters (aa) and (bb) and no. 4.
Subdivision 2
Public Pfandbriefe