Anstaltslast, translated as maintenance obligation by Moody’s and institutional obligation by Fitch, means that the public sector sponsor (the Anstaltsträger) is obliged to supply the public law institution (the öffentlich-rechtliche Anstalt) it owns with the financial means the institution requires to be viable for the entire duration of its existence. This includes provision such that a public-law bank can pay its debts at all times. Under the Gewährträgerhaftung (guarantee obligation or guarantor liability) the guarantors have an unlimited joint and several liability to the creditors of the bank to meet any obligations it does not meet out of its own assets.
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