In such a case, weighty reasons would support con- version of the German savings banks into regis- tered cooperatives on the French model. German savings banks and cooperative credit insti- tutions already possess numerous common fea- tures. Both are integrated into a tripartite financial association cooperating on the basis of a division of labour and exhibit a decentralized structure operating on the regional principle. In addition, both have a similar customer base consisting large- ly of private individuals as well as small and mid- sized businesses. The German law on cooperatives, which forms the special legal framework for the activities of the (registered) cooperatives, represents another fac- tor of considerable importance for the choice of legal.
