Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 115

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 115
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ordinated liabilities, such as those qualifying as Tier 2 instruments). Following a harmonization effort by the European Union implemented in Germany effective July 21, 2018, banks are permitted to decide if a specific issuance of eligible senior debt will rank as senior non-preferred debt or as senior preferred debt. The SRB is charged with administering the Single Resolution Fund (“SRF”), a pool of money which is financed by bank levies in the form of annual ex-ante contributions raised at national level, with the target level being 1% of insured deposits of all banks in Member States participating in the SRM. The target level was reached for the first time at the end of the initial build-up period which started in 2016 and ended on December 31, 2023. The SRB continues to verify on an annual basis whether the SRF’s available financial means have diminished below the target level in the relevant contribution period. Based on the 2024 verification exercise, no ex-ante contributions to the SRF were collected from banks in the collection period 2024. In early 2025, the SRB will verify, again, whether the available financial means in the Single Resolution Fund equal at least 1% of covered deposits held in the banking union. Should that not be the case, the SRB will decide whether ex ante contributions to the SRF will be calculated and restarted to be collected in the 2025 contribution period. The SRF will be used for resolving failing banks after other options, such as the bail-in tool, have been exhausted. In line with the German Recovery and Resolution Act, public financial support for a failing bank should only be used as a last resort, after having assessed and exploited, to the maximum extent possible, resolution measures set forth in the SRM Regulation and the German Recovery and Resolution Act, including the bail-in tool. Regulation in the EEA and Brexit The European Union pursues common standards of laws and regulations to create consistency across the internal market and reduce compliance and regulatory burdens for businesses operating on a cross-border basis. The EEA Agreement extends this objective to Iceland, Liechtenstein and Norway. Within the EEA, Deutsche Bank AG generally operates in a branch structure (and on a cross border basis from its headquarters in Frankfurt am Main) throughout the Member States under the “European Passport” legislative provisions enacted within the EU. Deutsche Bank AG is authorized and regulated by the ECB and the BaFin. To the extent that any Member State deems the regulated activities of Deutsche Bank