Notice on bank resolution and creditor participation (bail-in)

We would like to make you aware that shares in banks, bonds issued by banks and savings banks and other claims against banks and savings banks throughout Europe are subject to special regulations in the event of a threat to the survival of these institutions. This is based on the statutory provisions on bank recovery and resolution that may apply in the event of resolution. These regulations (such as the so-called "bail-in") may have a detrimental impact on investors and counterparties in the event of resolution of the institution. You can find more information about which financial instruments are affected on BaFin's website under the search term "liability cascade".