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FinTS (Financial Transaction Services), formerly known as HBCI (Home Banking Computer Interface), is a bank-independent protocol for online banking, developed and used by German banks. HBCI was originally designed by Germany's three banking "pillar" networks, namely the Sparkassen-Finanzgruppe , German Cooperative Financial Group , and ...
Banking in Germany is a highly leveraged industry, as its average leverage ratio (assets divided by net worth) as of 11 October 2008 is 52 to 1 (while, in comparison, that of France is 28 to 1 and that of the United Kingdom is 24 to 1); its short-term liabilities are equal to 60% of the German GDP or 167% of its national debt.
During the 2010s, open banking was also linked to shifts in attitudes towards the issue of data ownership, illustrated by regulations such as GDPR and the open data movement. [citation needed] With open banking, banks turn into financial service platforms, technically implemented through a banking as a service concept. [6]
An open file format is a file format for storing digital data, defined by a published specification usually maintained by a standards organization, and which can be used and implemented by anyone. For example, an open format can be implemented by both proprietary and free and open source software , using the typical software licenses used by each.
On 1 August 2005, Baden Württembergische Bank (BW-Bank) was incorporated into LBBW as a legally dependent institution under public law. Also as a legally dependent institution under public law, the former Landesbank Rheinland-Pfalz was integrated in the LBBW Group on 1 July 2008 under the new name Rheinland-Pfalz Bank.
Companies will also have more time than originally proposed to come into compliance. Larger financial technology companies will have until 2026, while the smallest will have until 2030.
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Bethmann Bank AG is a German private bank headquartered in Frankfurt am Main. It is a subsidiary of the Dutch ABN AMRO Bank N.V. and was the product of a merger between the historical German banks Delbrück, Bethmann and Maffei under the umbrella of the renowned Dutch ABN AMRO Bank. LGT Bank Deutschland joined this group in 2011.