The Einlagensicherungsfonds is the German bank deposit insurance scheme maintained by the Bankenverband. The statutes are quite interesting. §6 (10) on p.12 concerns ordinary clients of failed banks in Germany, like those of Lehman Brothers in Germany:

10. Ein Rechtsanspruch auf ein Eingreifen oder auf Leistungen des Einlagensicherungsfonds besteht nicht.

This says there is no legal title on the bank deposit insurance. This has always seemed to be a minor point, since German banks have been safe and secure places in the last 50 years. But, with the US banking system failing, should we reevaluate this minor point?