Overview

• The Federal Court of Justice invalidated Sparkasse Nürnberg’s interest‑adjustment clauses in long‑running premium savings contracts.
• Judges directed banks to recompute interest with the Verhältnismethode, using long‑term Deutsche Bundesbank rates close to 15‑year maturities.
• Participants in the vzbv model suit are told their claims are not time‑barred, while both sides state that non‑participants’ claims are now expired.
• More than 3,000 customers joined the action, and consumer groups urge them to file for back payments that often reach four‑digit sums.
• The ruling also clarifies termination rules by allowing cancellations after implied consent to new terms but barring ordinary termination during 99‑year terms, as Sparkasse Nürnberg says the result changes little for savers.