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id="toc-Background_(1948–1957)" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Background_(1948–1957)"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>Background (1948–1957)</span> </div> </a> <ul id="toc-Background_(1948–1957)-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1957–1990" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1957–1990"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2</span> <span>1957–1990</span> </div> </a> <ul id="toc-1957–1990-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1990–1993" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1990–1993"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.3</span> <span>1990–1993</span> </div> </a> <ul id="toc-1990–1993-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1993–2001" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1993–2001"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.4</span> <span>1993–2001</span> </div> </a> <ul id="toc-1993–2001-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2001–present" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2001–present"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.5</span> <span>2001–present</span> </div> </a> <ul id="toc-2001–present-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-The_Bundesbank_today" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#The_Bundesbank_today"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>The Bundesbank today</span> </div> </a> <button aria-controls="toc-The_Bundesbank_today-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle The Bundesbank today subsection</span> </button> <ul id="toc-The_Bundesbank_today-sublist" class="vector-toc-list"> <li id="toc-The_Bundesbank_as_a_note-issuing_bank" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_Bundesbank_as_a_note-issuing_bank"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>The Bundesbank as a note-issuing bank</span> </div> </a> <ul id="toc-The_Bundesbank_as_a_note-issuing_bank-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-The_Bundesbank_as_the_banks'_banker" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_Bundesbank_as_the_banks'_banker"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>The Bundesbank as the banks' banker</span> </div> </a> <ul id="toc-The_Bundesbank_as_the_banks'_banker-sublist" class="vector-toc-list"> <li id="toc-Clearing_house_for_commercial_banks" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Clearing_house_for_commercial_banks"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2.1</span> <span>Clearing house for commercial banks</span> </div> </a> <ul id="toc-Clearing_house_for_commercial_banks-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bank_supervision" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Bank_supervision"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2.2</span> <span>Bank supervision</span> </div> </a> <ul id="toc-Bank_supervision-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-The_Bundesbank_as_the_state's_banker" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_Bundesbank_as_the_state's_banker"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.3</span> <span>The Bundesbank as the state's banker</span> </div> </a> <ul id="toc-The_Bundesbank_as_the_state's_banker-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-The_Bundesbank_as_the_keeper_of_the_currency_reserves" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#The_Bundesbank_as_the_keeper_of_the_currency_reserves"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.4</span> <span>The Bundesbank as the keeper of the currency reserves</span> </div> </a> <ul id="toc-The_Bundesbank_as_the_keeper_of_the_currency_reserves-sublist" class="vector-toc-list"> <li id="toc-Structure" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Structure"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.4.1</span> <span>Structure</span> </div> </a> <ul id="toc-Structure-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Governance" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Governance"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.4.2</span> <span>Governance</span> </div> </a> <ul id="toc-Governance-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-Presidents_of_the_Bundesbank" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Presidents_of_the_Bundesbank"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Presidents of the Bundesbank</span> </div> </a> <button aria-controls="toc-Presidents_of_the_Bundesbank-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Presidents of the Bundesbank subsection</span> </button> <ul id="toc-Presidents_of_the_Bundesbank-sublist" class="vector-toc-list"> <li id="toc-Presidents_of_the_predecessors_to_the_Bundesbank" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Presidents_of_the_predecessors_to_the_Bundesbank"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Presidents of the predecessors to the Bundesbank</span> </div> </a> <ul id="toc-Presidents_of_the_predecessors_to_the_Bundesbank-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Presidents_of_the_Bundesbank_2" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Presidents_of_the_Bundesbank_2"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Presidents of the Bundesbank</span> </div> </a> <ul id="toc-Presidents_of_the_Bundesbank_2-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Current_Executive_Board_of_the_Bundesbank" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Current_Executive_Board_of_the_Bundesbank"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Current Executive Board of the Bundesbank</span> </div> </a> <ul id="toc-Current_Executive_Board_of_the_Bundesbank-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Disputes_between_the_Bundesbank_and_the_government" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Disputes_between_the_Bundesbank_and_the_government"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Disputes between the Bundesbank and the government</span> </div> </a> <button aria-controls="toc-Disputes_between_the_Bundesbank_and_the_government-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Disputes between the Bundesbank and the government subsection</span> </button> <ul id="toc-Disputes_between_the_Bundesbank_and_the_government-sublist" class="vector-toc-list"> <li id="toc-Dispute_over_currency_union_with_East_Germany" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Dispute_over_currency_union_with_East_Germany"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Dispute over currency union with East Germany</span> </div> </a> <ul id="toc-Dispute_over_currency_union_with_East_Germany-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-The_Bundesbank_in_the_news" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#The_Bundesbank_in_the_news"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>The Bundesbank in the news</span> </div> </a> <ul id="toc-The_Bundesbank_in_the_news-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Involvement_in_the_European_sovereign_debt_crisis" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Involvement_in_the_European_sovereign_debt_crisis"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Involvement in the European sovereign debt crisis</span> </div> </a> <ul id="toc-Involvement_in_the_European_sovereign_debt_crisis-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Publications_of_the_Bundesbank" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Publications_of_the_Bundesbank"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Publications of the Bundesbank</span> </div> </a> <ul id="toc-Publications_of_the_Bundesbank-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">12</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Deutsche Bundesbank</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 41 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-41" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">41 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-af mw-list-item"><a href="https://af.wikipedia.org/wiki/Bundesbank" title="Bundesbank – Afrikaans" lang="af" hreflang="af" data-title="Bundesbank" data-language-autonym="Afrikaans" data-language-local-name="Afrikaans" class="interlanguage-link-target"><span>Afrikaans</span></a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D9%84%D8%A8%D9%86%D9%83_%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF%D9%8A_%D8%A7%D9%84%D8%A3%D9%84%D9%85%D8%A7%D9%86%D9%8A" title="البنك الاتحادي الألماني – Arabic" lang="ar" hreflang="ar" data-title="البنك الاتحادي الألماني" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Alman_Federal_Bank%C4%B1" title="Alman Federal Bankı – Azerbaijani" lang="az" hreflang="az" data-title="Alman Federal Bankı" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%91%D1%83%D0%BD%D0%B4%D1%8D%D1%81%D0%B1%D0%B0%D0%BD%D0%BA" title="Бундэсбанк – Belarusian" lang="be" hreflang="be" data-title="Бундэсбанк" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Banc_Federal_Alemany" title="Banc Federal Alemany – Catalan" lang="ca" hreflang="ca" data-title="Banc Federal Alemany" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/N%C4%9Bmeck%C3%A1_spolkov%C3%A1_banka" title="Německá spolková banka – Czech" lang="cs" hreflang="cs" data-title="Německá spolková banka" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Danish" lang="da" hreflang="da" data-title="Deutsche Bundesbank" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – German" lang="de" hreflang="de" data-title="Deutsche Bundesbank" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Banco_Federal_Alem%C3%A1n" title="Banco Federal Alemán – Spanish" lang="es" hreflang="es" data-title="Banco Federal Alemán" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Germana_Federacia_Banko" title="Germana Federacia Banko – Esperanto" lang="eo" hreflang="eo" data-title="Germana Federacia Banko" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A8%D8%A7%D9%86%DA%A9_%D9%81%D8%AF%D8%B1%D8%A7%D9%84_%D8%A2%D9%84%D9%85%D8%A7%D9%86" title="بانک فدرال آلمان – Persian" lang="fa" hreflang="fa" data-title="بانک فدرال آلمان" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Banque_f%C3%A9d%C3%A9rale_d%27Allemagne" title="Banque fédérale d'Allemagne – French" lang="fr" hreflang="fr" data-title="Banque fédérale d'Allemagne" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/Bundesbank" title="Bundesbank – Irish" lang="ga" hreflang="ga" data-title="Bundesbank" data-language-autonym="Gaeilge" data-language-local-name="Irish" class="interlanguage-link-target"><span>Gaeilge</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%8F%85%EC%9D%BC_%EC%97%B0%EB%B0%A9%EC%9D%80%ED%96%89" title="독일 연방은행 – Korean" lang="ko" hreflang="ko" data-title="독일 연방은행" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B3%D5%A5%D6%80%D5%B4%D5%A1%D5%B6%D5%AB%D5%A1%D5%B5%D5%AB_%D5%A4%D5%A1%D5%B7%D5%B6%D5%A1%D5%B5%D5%AB%D5%B6_%D5%A2%D5%A1%D5%B6%D5%AF" title="Գերմանիայի դաշնային բանկ – Armenian" lang="hy" hreflang="hy" data-title="Գերմանիայի դաշնային բանկ" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Njema%C4%8Dka_savezna_banka" title="Njemačka savezna banka – Croatian" lang="hr" hreflang="hr" data-title="Njemačka savezna banka" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Indonesian" lang="id" hreflang="id" data-title="Deutsche Bundesbank" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Italian" lang="it" hreflang="it" data-title="Deutsche Bundesbank" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%93%D7%95%D7%99%D7%98%D7%A9%D7%94_%D7%91%D7%95%D7%A0%D7%93%D7%A1%D7%91%D7%A0%D7%A7" title="דויטשה בונדסבנק – Hebrew" lang="he" hreflang="he" data-title="דויטשה בונדסבנק" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://ky.wikipedia.org/wiki/%D0%9D%D0%B5%D0%BC%D0%B8%D1%81_%D1%84%D0%B5%D0%B4%D0%B5%D1%80%D0%B0%D0%BB%D0%B4%D1%8B%D0%BA_%D0%B1%D0%B0%D0%BD%D0%BA%D1%8B" title="Немис федералдык банкы – Kyrgyz" lang="ky" hreflang="ky" data-title="Немис федералдык банкы" data-language-autonym="Кыргызча" data-language-local-name="Kyrgyz" class="interlanguage-link-target"><span>Кыргызча</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Vokietijos_Bundesbankas" title="Vokietijos Bundesbankas – Lithuanian" lang="lt" hreflang="lt" data-title="Vokietijos Bundesbankas" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Hungarian" lang="hu" hreflang="hu" data-title="Deutsche Bundesbank" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%91%D1%83%D0%BD%D0%B4%D0%B5%D1%81%D0%B1%D0%B0%D0%BD%D0%BA%D0%B0" title="Бундесбанка – Macedonian" lang="mk" hreflang="mk" data-title="Бундесбанка" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Malay" lang="ms" hreflang="ms" data-title="Deutsche Bundesbank" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Dutch" lang="nl" hreflang="nl" data-title="Deutsche Bundesbank" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%83%89%E3%82%A4%E3%83%84%E9%80%A3%E9%82%A6%E9%8A%80%E8%A1%8C" title="ドイツ連邦銀行 – Japanese" lang="ja" hreflang="ja" data-title="ドイツ連邦銀行" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Deutsche Bundesbank" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Nemis_Bundesbanki" title="Nemis Bundesbanki – Uzbek" lang="uz" hreflang="uz" data-title="Nemis Bundesbanki" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Niemiecki_Bank_Federalny" title="Niemiecki Bank Federalny – Polish" lang="pl" hreflang="pl" data-title="Niemiecki Bank Federalny" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Portuguese" lang="pt" hreflang="pt" data-title="Deutsche Bundesbank" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Romanian" lang="ro" hreflang="ro" data-title="Deutsche Bundesbank" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9D%D0%B5%D0%BC%D0%B5%D1%86%D0%BA%D0%B8%D0%B9_%D1%84%D0%B5%D0%B4%D0%B5%D1%80%D0%B0%D0%BB%D1%8C%D0%BD%D1%8B%D0%B9_%D0%B1%D0%B0%D0%BD%D0%BA" title="Немецкий федеральный банк – Russian" lang="ru" hreflang="ru" data-title="Немецкий федеральный банк" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Albanian" lang="sq" hreflang="sq" data-title="Deutsche Bundesbank" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Saksan_keskuspankki" title="Saksan keskuspankki – Finnish" lang="fi" hreflang="fi" data-title="Saksan keskuspankki" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Swedish" lang="sv" hreflang="sv" data-title="Deutsche Bundesbank" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%87%E0%AE%9F%E0%AE%BE%E0%AE%AF%E0%AF%8D%E0%AE%9A%E0%AF%8D%E0%AE%9A%E0%AF%81_%E0%AE%A8%E0%AE%9F%E0%AF%81%E0%AE%B5%E0%AE%A3%E0%AF%8D_%E0%AE%B5%E0%AE%99%E0%AF%8D%E0%AE%95%E0%AE%BF" title="இடாய்ச்சு நடுவண் வங்கி – Tamil" lang="ta" hreflang="ta" data-title="இடாய்ச்சு நடுவண் வங்கி" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%98%E0%B8%99%E0%B8%B2%E0%B8%84%E0%B8%B2%E0%B8%A3%E0%B8%AA%E0%B8%AB%E0%B8%9E%E0%B8%B1%E0%B8%99%E0%B8%98%E0%B9%8C%E0%B9%80%E0%B8%A2%E0%B8%AD%E0%B8%A3%E0%B8%A1%E0%B8%99%E0%B8%B5" title="ธนาคารสหพันธ์เยอรมนี – Thai" lang="th" hreflang="th" data-title="ธนาคารสหพันธ์เยอรมนี" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Deutsche_Bundesbank" title="Deutsche Bundesbank – Turkish" lang="tr" hreflang="tr" data-title="Deutsche Bundesbank" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9D%D1%96%D0%BC%D0%B5%D1%86%D1%8C%D0%BA%D0%B8%D0%B9_%D0%91%D1%83%D0%BD%D0%B4%D0%B5%D1%81%D0%B1%D0%B0%D0%BD%D0%BA" title="Німецький Бундесбанк – Ukrainian" lang="uk" hreflang="uk" data-title="Німецький Бундесбанк" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E5%BE%B7%E5%9C%8B%E8%81%AF%E9%82%A6%E9%8A%80%E8%A1%8C" title="德國聯邦銀行 – Cantonese" lang="yue" hreflang="yue" data-title="德國聯邦銀行" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%BE%B7%E6%84%8F%E5%BF%97%E8%81%94%E9%82%A6%E9%93%B6%E8%A1%8C" title="德意志联邦银行 – Chinese" lang="zh" hreflang="zh" data-title="德意志联邦银行" 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<div class="vector-body-before-content"> <div class="mw-indicators"> <div id="mw-indicator-coordinates" class="mw-indicator"><div class="mw-parser-output"><span id="coordinates"><a href="/wiki/Geographic_coordinate_system" title="Geographic coordinate system">Coordinates</a>: <style data-mw-deduplicate="TemplateStyles:r1156832818">.mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct,.mw-parser-output .geo-inline-hidden{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}</style><span class="plainlinks nourlexpansion"><a class="external text" href="https://geohack.toolforge.org/geohack.php?pagename=Deutsche_Bundesbank&params=50_08_02_N_08_39_35_E_type:landmark_region:DE-HE"><span class="geo-default"><span class="geo-dms" title="Maps, aerial photos, and other data for this location"><span class="latitude">50°08′02″N</span> <span class="longitude">08°39′35″E</span></span></span><span class="geo-multi-punct"> / </span><span class="geo-nondefault"><span class="geo-dec" title="Maps, aerial photos, and other data for this location">50.13389°N 8.65972°E</span><span style="display:none"> / <span class="geo">50.13389; 8.65972</span></span></span></a></span></span></div></div> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"><span class="mw-redirectedfrom">(Redirected from <a href="/w/index.php?title=Bundesbank&redirect=no" class="mw-redirect" title="Bundesbank">Bundesbank</a>)</span></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Central bank of Germany</div> <p class="mw-empty-elt"> </p> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output 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Unsourced material may be challenged and removed.<br /><small><span class="plainlinks"><i>Find sources:</i> <a rel="nofollow" class="external text" href="https://www.google.com/search?as_eq=wikipedia&q=%22Deutsche+Bundesbank%22">"Deutsche Bundesbank"</a> – <a rel="nofollow" class="external text" href="https://www.google.com/search?tbm=nws&q=%22Deutsche+Bundesbank%22+-wikipedia&tbs=ar:1">news</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.google.com/search?&q=%22Deutsche+Bundesbank%22&tbs=bkt:s&tbm=bks">newspapers</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.google.com/search?tbs=bks:1&q=%22Deutsche+Bundesbank%22+-wikipedia">books</a> <b>·</b> <a rel="nofollow" class="external text" href="https://scholar.google.com/scholar?q=%22Deutsche+Bundesbank%22">scholar</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%22Deutsche+Bundesbank%22&acc=on&wc=on">JSTOR</a></span></small></span> <span class="date-container"><i>(<span class="date">January 2022</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><style data-mw-deduplicate="TemplateStyles:r1151960987">body.skin-minerva .mw-parser-output .infobox table{display:table}body.skin-minerva .mw-parser-output .infobox caption{display:table-caption}</style><table class="infobox vcard"><caption class="infobox-title fn org">Deutsche Bundesbank</caption><tbody><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Deutsche_Bundesbank_logo.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Deutsche_Bundesbank_logo.svg/220px-Deutsche_Bundesbank_logo.svg.png" decoding="async" width="220" height="84" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Deutsche_Bundesbank_logo.svg/330px-Deutsche_Bundesbank_logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Deutsche_Bundesbank_logo.svg/440px-Deutsche_Bundesbank_logo.svg.png 2x" data-file-width="300" data-file-height="115" /></a></span></td></tr><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Deutsche_Bundesbank_by_Matthew_Bisanz.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Deutsche_Bundesbank_by_Matthew_Bisanz.jpg/220px-Deutsche_Bundesbank_by_Matthew_Bisanz.jpg" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Deutsche_Bundesbank_by_Matthew_Bisanz.jpg/330px-Deutsche_Bundesbank_by_Matthew_Bisanz.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Deutsche_Bundesbank_by_Matthew_Bisanz.jpg/440px-Deutsche_Bundesbank_by_Matthew_Bisanz.jpg 2x" data-file-width="689" data-file-height="517" /></a></span></td></tr><tr class="label"><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data"><a href="/wiki/Frankfurt" title="Frankfurt">Frankfurt</a>, Hesse, Germany</td></tr><tr><th scope="row" class="infobox-label">Established</th><td class="infobox-data">1957</td></tr><tr><th scope="row" class="infobox-label">President</th><td class="infobox-data"><a href="/wiki/Joachim_Nagel" title="Joachim Nagel">Joachim Nagel</a></td></tr><tr><th scope="row" class="infobox-label">Central bank of</th><td class="infobox-data">Germany (1990–present) <br /> West Germany (1957–1990)</td></tr><tr><th scope="row" class="infobox-label">Currency</th><td class="infobox-data"><a href="/wiki/Deutsche_Mark" title="Deutsche Mark">Deutsche Mark</a> (1957–2002)</td></tr><tr><th scope="row" class="infobox-label">Reserves</th><td class="infobox-data">€219,86 billion (2021)<sup id="cite_ref-dnbinfo_1-0" class="reference"><a href="#cite_note-dnbinfo-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Preceded by</th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"><ul><li><a href="/wiki/Bank_deutscher_L%C3%A4nder" title="Bank deutscher Länder">Bank deutscher Länder</a><br />(West Germany, 1948–1957)</li><li>Deutsche Notenbank<br />(East Germany, 1948–1968)</li><li><a href="/wiki/Staatsbank_der_DDR" title="Staatsbank der DDR">Staatsbank der DDR</a><br />(East Germany, 1968–1990)</li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Succeeded by</th><td class="infobox-data"><a href="/wiki/European_Central_Bank" title="European Central Bank">European Central Bank</a> (1999)<sup>fn</sup></td></tr><tr><th scope="row" class="infobox-label">Website</th><td class="infobox-data"><span class="url"><a rel="nofollow" class="external text" href="https://www.bundesbank.de/">www<wbr />.bundesbank<wbr />.de</a></span></td></tr><tr><td colspan="2" class="infobox-below" style="border-top:1px solid #aaaaaa;text-align:left;font-size:smaller"><sup>fn</sup> The Bundesbank still exists but many functions have been taken over by the ECB.</td></tr></tbody></table> <p>The <b>Deutsche Bundesbank</b> (<style data-mw-deduplicate="TemplateStyles:r1177148991">.mw-parser-output .IPA-label-small{font-size:85%}.mw-parser-output .references .IPA-label-small,.mw-parser-output .infobox .IPA-label-small,.mw-parser-output .navbox .IPA-label-small{font-size:100%}</style><span class="IPA-label IPA-label-small">pronounced</span> <span class="IPA nowrap" lang="de-Latn-fonipa"><a href="/wiki/Help:IPA/Standard_German" title="Help:IPA/Standard German">[ˈdɔʏtʃə<span class="wrap"> </span>ˈbʊndəsˌbaŋk]</a></span>, <abbr style="font-size:85%" title="literal translation">lit.</abbr><span style="white-space: nowrap;"> </span><span class="gloss-quot">'</span><span class="gloss-text">German Federal Bank</span><span class="gloss-quot">'</span>, colloquially <b>Buba</b>,<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> sometimes alternatively abbreviated as BBk or DBB) is the German member of the <a href="/wiki/Eurosystem" title="Eurosystem">Eurosystem</a> and has been the <a href="/wiki/Monetary_authority" class="mw-redirect" title="Monetary authority">monetary authority</a> for <a href="/wiki/Germany" title="Germany">Germany</a> from 1957 to 1998, issuing the <a href="/wiki/Deutsche_Mark" title="Deutsche Mark">Deutsche Mark</a> (DM). It succeeded the <a href="/wiki/Bank_deutscher_L%C3%A4nder" title="Bank deutscher Länder">Bank deutscher Länder</a>, which had introduced the DM on 20 June 1948. </p><p>The Bundesbank was the first <a href="/wiki/Central_bank" title="Central bank">central bank</a> to be given full independence, leading this form of central bank to be referred to as the "Bundesbank model", as opposed, for instance, to the "New Zealand model", which has a goal (i.e. inflation target) set by the government.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The Bundesbank was greatly respected for its control of inflation through the second half of the 20th century. This made the German Mark one of the most respected currencies, and the Bundesbank gained substantial indirect influence in many European countries.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2023)">citation needed</span></a></i>]</sup> As of 2023, its balance sheet total was €2.516 trillion,<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> making it the 4th largest central bank in the world.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Reichsbank" title="Reichsbank">Reichsbank</a></div> <div class="mw-heading mw-heading3"><h3 id="Background_(1948–1957)"><span id="Background_.281948.E2.80.931957.29"></span>Background (1948–1957)</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=2" title="Edit section: Background (1948–1957)"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The history of the Bundesbank is inextricably linked with the history of the German currency after the <a href="/wiki/World_War_II" title="World War II">Second World War</a>. Following the total destruction after the war, the old <a href="/wiki/Reichsmark" title="Reichsmark">Reichsmark</a> was practically worthless, and a currency reform was implemented in the western occupation zones including West Berlin: on 21 June 1948, the D-Mark, or Deutsche Mark, replaced the Reichsmark. The currency reform was based on laws enacted by the Allied military government. In preparation, the <a href="/wiki/Western_Powers" class="mw-redirect" title="Western Powers">Western Powers</a> established a new two-tier central bank system in the occupied zones; in its federal structure, it was modeled on the Federal Reserve System of the US. It comprised the central banks of the states (<i>Länder</i>) of the West German occupation zones and the Bank deutscher Länder in <a href="/wiki/Frankfurt_am_Main" class="mw-redirect" title="Frankfurt am Main">Frankfurt am Main</a>, which was created on 1 March 1948. The central banks of the <i>Länder</i> acted as central banks within their areas of jurisdiction. The Bank deutscher Länder, whose share capital was held by the central banks of the <i>Länder</i>, was responsible for issuing bank notes, co-ordinating policy and various central tasks including management of foreign exchange. The supreme governing body of the two-tier central bank system was the Central Bank Council (<i>Zentralbankrat</i>) set up at the Bank deutscher Länder. It consisted of a president, the presidents of the central banks of the <i>Länder</i> and the president of the directorate (board) of the Bank deutscher Länder. Amongst other things, the Central Bank Council determined policy on bank rate and minimum reserve policy, open-market policy guidelines and granting of credit. After the negative experience with a central bank subject to government orders, the principle of an independent central bank was established. The <i>Bank deutscher Länder</i> was independent of German political bodies from the start, including the federal German government, which was active from September 1949. It achieved independence from the Allies in 1951. </p> <div class="mw-heading mw-heading3"><h3 id="1957–1990"><span id="1957.E2.80.931990"></span>1957–1990</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=3" title="Edit section: 1957–1990"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The German "<a href="/wiki/Basic_Law_for_the_Federal_Republic_of_Germany" title="Basic Law for the Federal Republic of Germany">Basic Law</a>" (constitution), which had come into force on 23 May 1949, placed an obligation on the German federal legislature to establish a federal bank responsible for the issue of bank notes and currency.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The legislature fulfilled this obligation by passing the Bundesbank Act (<i>BBankG</i>) of 26 July 1957, which abolished the two-tier structure of the central bank system.<sup id="cite_ref-BBank1998_8-0" class="reference"><a href="#cite_note-BBank1998-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> The central banks of the <i>Länder</i> were now no longer independent note-issuing banks, but became regional headquarters of the Bundesbank, nevertheless retaining the title "state central bank" (<i>Landeszentralbank</i>). </p><p>The Central Bank Council remained the supreme decision-making body of the Bundesbank. It was now made up of the presidents of the central banks of the <i>Länder</i> and a board of directors based in Frankfurt. The Central Bank Council decided on the currency and credit policy and laid down rules for management. As the central executive body of the Bundesbank, the Directorate (<i>Direktorium</i>) was responsible for implementing the decisions of the Central Bank Council. The Directorate ran the bank and was, in particular, responsible for dealings with the federal government and its "special assets" (<i>Sondervermögen</i>), for transactions with credit institutes operating in the Federal republic of Germany, for currency transactions, and foreign commercial transactions, and for <a href="/wiki/Open-market" class="mw-redirect" title="Open-market">open-market</a> dealings. The Directorate was made up of the president and the vice-president of the Bundesbank and up to six additional members. </p><p>The central banks of the <i>Länder</i> carried out business falling in their areas independently. The Bundesbank Act explicitly made them responsible for dealings with public bodies and credit institutes. The central Banks of the <i>Länder</i> also controlled the subsidiary bodies (<i>Zweiganstalten</i>), now called branches (<i>Filialen</i>). Overall management of each <i>Land</i> central bank was in the hands of its executive board (<i>Vorstand</i>), which as a rule consisted of the president and the <a href="/wiki/Vice_president" title="Vice president">vice-president</a> of the bank. </p> <div class="mw-heading mw-heading3"><h3 id="1990–1993"><span id="1990.E2.80.931993"></span>1990–1993</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=4" title="Edit section: 1990–1993"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the wake of the <a href="/wiki/Fall_of_the_Berlin_Wall" title="Fall of the Berlin Wall">Fall of the Berlin Wall</a>, the <a href="/wiki/West_Germany" title="West Germany">Federal Republic of Germany</a> and the <a href="/wiki/German_Democratic_Republic" class="mw-redirect" title="German Democratic Republic">German Democratic Republic</a> signed a treaty on 18 May 1990, that created an economic, social and currency union between the two German states; it came into force on 1 July 1990, and made the <a href="/wiki/Deutschmark" class="mw-redirect" title="Deutschmark">Deutsche Mark</a> the sole legal tender in both German states. The Bundesbank was made responsible for money and currency policy within the whole of the currency union. A "Provisional Administration Body" was set up for the purpose of implementing the treaty, and this body continued to operate beyond the official date of reunification until 31 October 1990. The Bundesbank Act was amended to adjust the organizational structure of the Bundesbank to better match changed circumstances following German reunification, and at the same time streamline the organisation. The eleven central banks of the <i><a href="/wiki/States_of_Germany" title="States of Germany">Länder</a></i> and the Provisional Administrative Body were replaced by nine central banks of similar economic size. </p> <div class="mw-heading mw-heading3"><h3 id="1993–2001"><span id="1993.E2.80.932001"></span>1993–2001</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=5" title="Edit section: 1993–2001"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Maastricht_Treaty" title="Maastricht Treaty">Maastricht Treaty</a> that came into force on 1 November 1993 laid the foundation for the European Economic and Currency Union (EECU). National responsibility for monetary policy was transferred, at the Community level, to the European System of Central Banks (ESCB), comprising the European Central bank (ECB) and the national central banks (NCBs) of the EU states. Until the ECB became fully responsible for currency in 2001, the Bundesbank had three governing bodies. The Central Bank Council (<i>Zentralbankrat</i>) was the supreme body of the Bundesbank. It was made up of: </p> <ol><li>the Directorate, which comprised the president, the vice-president and six additional members. These eight people were nominated by the Federal Government (<i>Bundesregierung</i>)</li> <li>The nine presidents of the <i>Landeszentralbanken</i>. These were nominated by the <i><a href="/wiki/German_Bundesrat" title="German Bundesrat">Bundesrat</a></i>.</li></ol> <p>The Directorate was the executive body of the Bundesbank, while all currency policy decisions were made by the Central Bank Council. </p> <div class="mw-heading mw-heading3"><h3 id="2001–present"><span id="2001.E2.80.93present"></span>2001–present</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=6" title="Edit section: 2001–present"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2001 the ECB took over full control of currency. The Bundesbank Act was last amended in 2002 by the 7th Law Amending the Law on the Bundesbank of 30 April 2002, which gave the Bundesbank its current structure. </p> <div class="mw-heading mw-heading2"><h2 id="The_Bundesbank_today">The Bundesbank today</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=7" title="Edit section: The Bundesbank today"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl 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.sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar sidebar-collapse nomobile nowraplinks vcard hlist" style="width:22.0em; border: 4px double var(--background-color-inverted, #101418);"><tbody><tr><td class="sidebar-pretitle"><b><span style="color:var(--color-base, #101112)">This article is part of a series on the</span></b></td></tr><tr><th class="sidebar-title-with-pretitle" style="background:#d33; border: 1px double #8C959A;"><a href="/wiki/Politics_of_Germany" title="Politics of Germany"><span style="color: white;"><small>Politics of </small><br />Germany</span></a></th></tr><tr><td class="sidebar-image"><figure class="mw-halign-center" typeof="mw:File"><a href="/wiki/File:Coat_of_arms_of_Germany.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/Coat_of_arms_of_Germany.svg/90px-Coat_of_arms_of_Germany.svg.png" decoding="async" width="90" height="116" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/Coat_of_arms_of_Germany.svg/135px-Coat_of_arms_of_Germany.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/da/Coat_of_arms_of_Germany.svg/180px-Coat_of_arms_of_Germany.svg.png 2x" data-file-width="396" data-file-height="510" /></a><figcaption></figcaption></figure></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)"><a href="/wiki/Basic_Law_for_the_Federal_Republic_of_Germany" title="Basic Law for the Federal Republic of Germany"><span style="color:#000;">Constitution <span style="font-size:85%;">(Basic Law)</span></span></a></div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Federal_Constitutional_Court_of_Germany" class="mw-redirect" title="Federal Constitutional Court of Germany">Federal Constitutional Court</a></li> <li><a href="/wiki/Human_rights_in_Germany" title="Human rights in Germany">Human rights</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)">Head of State</div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><b><a href="/wiki/President_of_Germany" title="President of Germany">President of Germany</a></b></li></ul> <ul><li><a href="/wiki/Frank-Walter_Steinmeier" title="Frank-Walter Steinmeier">Frank-Walter Steinmeier</a> (<a href="/wiki/Social_Democratic_Party_of_Germany" title="Social Democratic Party of Germany">SPD</a>)</li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)">Executive</div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><b><a href="/wiki/Chancellor_of_Germany_(1949%E2%80%93)" class="mw-redirect" title="Chancellor of Germany (1949–)">Chancellor of Germany</a></b> (<a href="/wiki/List_of_chancellors_of_Germany" title="List of chancellors of Germany">list</a>)</li></ul> <ul><li><a href="/wiki/Olaf_Scholz" title="Olaf Scholz">Olaf Scholz</a> (<a href="/wiki/Social_Democratic_Party_of_Germany" title="Social Democratic Party of Germany">SPD</a>)</li></ul> <ul><li><b><a href="/wiki/Vice-Chancellor_of_Germany" title="Vice-Chancellor of Germany">Vice Chancellor of Germany</a></b></li></ul> <ul><li><a href="/wiki/Robert_Habeck" title="Robert Habeck">Robert Habeck</a> (<a href="/wiki/Alliance_90/The_Greens" title="Alliance 90/The Greens">Grüne</a>)</li></ul> <hr /> <ul><li><a href="/wiki/Cabinet_of_Germany" title="Cabinet of Germany">Cabinet</a> <dl><dd><a href="/wiki/Scholz_cabinet" title="Scholz cabinet">Scholz</a></dd></dl></li> <li><a href="/wiki/Federal_agency_(Germany)" title="Federal agency (Germany)">Federal agencies</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)">Legislature</div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><b><a href="/wiki/Bundestag" title="Bundestag">Bundestag</a></b> <dl><dd><a href="/wiki/List_of_Bundestag_constituencies" title="List of Bundestag constituencies">constituencies</a></dd> <dd><a href="/wiki/Member_of_the_German_Bundestag" title="Member of the German Bundestag">members</a></dd></dl></li> <li><b><a href="/wiki/Bundesrat_of_Germany" class="mw-redirect" title="Bundesrat of Germany">Bundesrat</a></b></li></ul> <hr /> <ul><li><a href="/w/index.php?title=Vermittlungsausschuss&action=edit&redlink=1" class="new" title="Vermittlungsausschuss (page does not exist)"><i>Vermittlungsausschuss</i></a></li> <li><a href="/wiki/Gemeinsamer_Ausschuss" title="Gemeinsamer Ausschuss"><i>Gemeinsamer Ausschuss</i></a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)"><a href="/wiki/Judiciary_of_Germany" title="Judiciary of Germany"><span style="color:#000;">Judiciary</span></a></div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Federal_Constitutional_Court" title="Federal Constitutional Court">Federal Constitutional Court</a></li></ul> <hr /> <ul><li>Federal courts</li></ul> <ul><li><a href="/wiki/Federal_Court_of_Justice" title="Federal Court of Justice">Ordinary</a></li> <li><a href="/wiki/Federal_Administrative_Court_(Germany)" title="Federal Administrative Court (Germany)">Administrative</a></li> <li><a href="/wiki/Federal_Fiscal_Court" title="Federal Fiscal Court">Fiscal</a></li> <li><a href="/wiki/Federal_Labour_Court" title="Federal Labour Court">Labour</a></li> <li><a href="/wiki/Federal_Social_Court" title="Federal Social Court">Social</a></li></ul> <ul><li><a href="/wiki/Joint_Senate_of_the_Supreme_Courts_of_the_Federation" title="Joint Senate of the Supreme Courts of the Federation">Joint Senate</a></li></ul> <hr /> <ul><li><a href="/wiki/Judiciary_of_Germany#Courts" title="Judiciary of Germany">Other courts</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)"><a href="/wiki/Administrative_divisions_of_Germany" class="mw-redirect" title="Administrative divisions of Germany"><span style="color:#000;">Subdivisions</span></a></div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><b><a href="/wiki/States_of_Germany" title="States of Germany">State (<i>Land</i>)</a></b></li></ul> <ul><li><a href="/wiki/Minister_President_(Germany)" class="mw-redirect" title="Minister President (Germany)">Minister president</a></li> <li><a href="/wiki/State_Parliament_(Germany)" title="State Parliament (Germany)">State Parliament (<i>Landtag</i>)</a> <dl><dd><a href="/wiki/Composition_of_the_German_state_parliaments" title="Composition of the German state parliaments">composition</a></dd></dl></li></ul> <hr /> <ul><li><a href="/wiki/Regierungsbezirk" title="Regierungsbezirk"><i>Regierungsbezirk</i></a></li> <li><a href="/wiki/Districts_of_Germany" title="Districts of Germany">District (<i>Kreis</i>)</a> <dl><dd><a href="/wiki/List_of_districts_of_Germany" title="List of districts of Germany">list</a></dd></dl></li> <li><a href="/wiki/Amt_(country_subdivision)" class="mw-redirect" title="Amt (country subdivision)">Collective municipality (<i>Amt</i>)</a></li> <li><a href="/wiki/Municipalities_of_Germany" title="Municipalities of Germany">Municipality (<i>Gemeinde</i>)</a> <dl><dd><a href="/wiki/List_of_municipalities_in_Germany" title="List of municipalities in Germany">list</a></dd></dl></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)"><a href="/wiki/Elections_in_Germany" title="Elections in Germany"><span style="color:#000;">Elections</span></a></div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Electoral_system_of_Germany" title="Electoral system of Germany">Electoral system</a></li> <li><a href="/wiki/List_of_political_parties_in_Germany" title="List of political parties in Germany">Political parties</a></li> <li><a href="/wiki/Referendums_in_Germany" title="Referendums in Germany">Referendums</a></li> <li><a href="/wiki/German_governing_coalition" title="German governing coalition">Coalitions</a></li> <li><a href="/wiki/Federal_Convention_(Germany)" title="Federal Convention (Germany)">Federal Convention (<i>Bundesversammlung</i>)</a></li></ul> <hr /> <ul><li><b>Presidential elections</b></li></ul> <hr /> <ul><li><a href="/wiki/President_of_Germany_(1919%E2%80%931945)" title="President of Germany (1919–1945)">Weimar Republic (1919–1933)</a></li></ul> <div class="plainlist"> <ul><li><a href="/wiki/1919_German_presidential_election" title="1919 German presidential election">1919</a></li> <li><a href="/wiki/1925_German_presidential_election" title="1925 German presidential election">1925</a></li> <li><a href="/wiki/1932_German_presidential_election" title="1932 German presidential election">1932</a></li></ul> </div> <ul><li><a href="/wiki/President_of_East_Germany" title="President of East Germany">East Germany (1949–1960)</a></li></ul> <div class="plainlist"> <ul><li><a href="/w/index.php?title=1949_East_German_presidential_election&action=edit&redlink=1" class="new" title="1949 East German presidential election (page does not exist)">1949</a></li> <li><a href="/w/index.php?title=1953_East_German_presidential_election&action=edit&redlink=1" class="new" title="1953 East German presidential election (page does not exist)">1953</a></li> <li><a href="/w/index.php?title=1957_East_German_presidential_election&action=edit&redlink=1" class="new" title="1957 East German presidential election (page does not exist)">1957</a></li></ul> </div> <ul><li><a href="/wiki/President_of_Germany" title="President of Germany">Federal Republic of Germany (since 1949)</a></li></ul> <div class="plainlist"> <ul><li><a href="/wiki/1949_West_German_presidential_election" title="1949 West German presidential election">1949</a></li> <li><a href="/wiki/1954_West_German_presidential_election" title="1954 West German presidential election">1954</a></li> <li><a href="/wiki/1959_West_German_presidential_election" title="1959 West German presidential election">1959</a></li> <li><a href="/wiki/1964_West_German_presidential_election" title="1964 West German presidential election">1964</a></li> <li><a href="/wiki/1969_West_German_presidential_election" title="1969 West German presidential election">1969</a></li> <li><a href="/wiki/1974_West_German_presidential_election" title="1974 West German presidential election">1974</a></li> <li><a href="/wiki/1979_West_German_presidential_election" title="1979 West German presidential election">1979</a></li> <li><a href="/wiki/1984_West_German_presidential_election" title="1984 West German presidential election">1984</a></li> <li><a href="/wiki/1989_West_German_presidential_election" title="1989 West German presidential election">1989</a></li> <li><a href="/wiki/1994_German_presidential_election" title="1994 German presidential election">1994</a></li> <li><a href="/wiki/1999_German_presidential_election" title="1999 German presidential election">1999</a></li> <li><a href="/wiki/2004_German_presidential_election" title="2004 German presidential election">2004</a></li> <li><a href="/wiki/2009_German_presidential_election" title="2009 German presidential election">2009</a></li> <li><a href="/wiki/2010_German_presidential_election" title="2010 German presidential election">2010</a></li> <li><a href="/wiki/2012_German_presidential_election" title="2012 German presidential election">2012</a></li> <li><a href="/wiki/2017_German_presidential_election" title="2017 German presidential election">2017</a></li> <li><a href="/wiki/2022_German_presidential_election" title="2022 German presidential election"><i>2022</i></a></li></ul> </div> <hr /> <ul><li><b>Parliamentary election</b></li></ul> <hr /> <div class="plainlist"> <ul><li><a href="/wiki/February_1867_North_German_federal_election" title="February 1867 North German federal election">1867 (Feb)</a></li> <li><a href="/wiki/August_1867_North_German_federal_election" title="August 1867 North German federal election">1867 (Aug)</a></li> <li><a href="/wiki/1868_Zollparlament_election" title="1868 Zollparlament election">1868</a></li> <li><a href="/wiki/1871_German_federal_election" title="1871 German federal election">1871</a></li> <li><a href="/wiki/1874_German_federal_election" title="1874 German federal election">1874</a></li> <li><a href="/wiki/1877_German_federal_election" title="1877 German federal election">1877</a></li> <li><a href="/wiki/1878_German_federal_election" title="1878 German federal election">1878</a></li> <li><a href="/wiki/1881_German_federal_election" title="1881 German federal election">1881</a></li> <li><a href="/wiki/1884_German_federal_election" title="1884 German federal election">1884</a></li> <li><a href="/wiki/1887_German_federal_election" title="1887 German federal election">1887</a></li> <li><a href="/wiki/1890_German_federal_election" title="1890 German federal election">1890</a></li> <li><a href="/wiki/1893_German_federal_election" title="1893 German federal election">1893</a></li> <li><a href="/wiki/1898_German_federal_election" title="1898 German federal election">1898</a></li> <li><a href="/wiki/1903_German_federal_election" title="1903 German federal election">1903</a></li> <li><a href="/wiki/1907_German_federal_election" title="1907 German federal election">1907</a></li> <li><a href="/wiki/1912_German_federal_election" title="1912 German federal election">1912</a></li> <li><a href="/wiki/1919_German_federal_election" title="1919 German federal election">1919</a></li> <li><a href="/wiki/1920_German_federal_election" title="1920 German federal election">1920</a></li> <li><a href="/wiki/May_1924_German_federal_election" title="May 1924 German federal election">1924 (May)</a></li> <li><a href="/wiki/December_1924_German_federal_election" title="December 1924 German federal election">1924 (Dec)</a></li> <li><a href="/wiki/1928_German_federal_election" title="1928 German federal election">1928</a></li> <li><a href="/wiki/1930_German_federal_election" title="1930 German federal election">1930</a></li> <li><a href="/wiki/July_1932_German_federal_election" title="July 1932 German federal election">1932 (July)</a></li> <li><a href="/wiki/November_1932_German_federal_election" title="November 1932 German federal election">1932 (Nov)</a></li> <li><a href="/wiki/March_1933_German_federal_election" title="March 1933 German federal election">1933 (Mar)</a></li> <li><a href="/wiki/November_1933_German_parliamentary_election" title="November 1933 German parliamentary election">1933 (Nov)</a></li> <li><a href="/wiki/1936_German_parliamentary_election_and_referendum" title="1936 German parliamentary election and referendum">1936</a></li> <li><a href="/wiki/1938_German_parliamentary_election_and_referendum" title="1938 German parliamentary election and referendum">1938</a></li> <li><a href="/wiki/1949_West_German_federal_election" title="1949 West German federal election">1949</a></li> <li><a href="/wiki/1953_West_German_federal_election" title="1953 West German federal election">1953</a></li> <li><a href="/wiki/1957_West_German_federal_election" title="1957 West German federal election">1957</a></li> <li><a href="/wiki/1961_West_German_federal_election" title="1961 West German federal election">1961</a></li> <li><a href="/wiki/1965_West_German_federal_election" title="1965 West German federal election">1965</a></li> <li><a href="/wiki/1969_West_German_federal_election" title="1969 West German federal election">1969</a></li> <li><a href="/wiki/1972_West_German_federal_election" title="1972 West German federal election">1972</a></li> <li><a href="/wiki/1976_West_German_federal_election" title="1976 West German federal election">1976</a></li> <li><a href="/wiki/1980_West_German_federal_election" title="1980 West German federal election">1980</a></li> <li><a href="/wiki/1983_West_German_federal_election" title="1983 West German federal election">1983</a></li> <li><a href="/wiki/1987_West_German_federal_election" title="1987 West German federal election">1987</a></li> <li><a href="/wiki/1990_German_federal_election" title="1990 German federal election">1990</a></li> <li><a href="/wiki/1994_German_federal_election" title="1994 German federal election">1994</a></li> <li><a href="/wiki/1998_German_federal_election" title="1998 German federal election">1998</a></li> <li><a href="/wiki/2002_German_federal_election" title="2002 German federal election">2002</a></li> <li><a href="/wiki/2005_German_federal_election" title="2005 German federal election">2005</a></li> <li><a href="/wiki/2009_German_federal_election" title="2009 German federal election">2009</a></li> <li><a href="/wiki/2013_German_federal_election" title="2013 German federal election">2013</a></li> <li><a href="/wiki/2017_German_federal_election" title="2017 German federal election">2017</a></li> <li><a href="/wiki/2021_German_federal_election" title="2021 German federal election">2021</a></li> <li><a href="/wiki/2025_German_federal_election" title="2025 German federal election"><i>2025</i></a></li></ul> </div> <hr /> <ul><li><b>European elections</b></li></ul> <hr /> <div class="plainlist"> <ul><li><a href="/wiki/1979_European_Parliament_election_in_West_Germany" title="1979 European Parliament election in West Germany">1979</a></li> <li><a href="/wiki/1984_European_Parliament_election_in_West_Germany" title="1984 European Parliament election in West Germany">1984</a></li> <li><a href="/wiki/1989_European_Parliament_election_in_West_Germany" title="1989 European Parliament election in West Germany">1989</a></li> <li><a href="/wiki/1994_European_Parliament_election_in_Germany" title="1994 European Parliament election in Germany">1994</a></li> <li><a href="/wiki/1999_European_Parliament_election_in_Germany" title="1999 European Parliament election in Germany">1999</a></li> <li><a href="/wiki/2004_European_Parliament_election_in_Germany" title="2004 European Parliament election in Germany">2004</a></li> <li><a href="/wiki/2009_European_Parliament_election_in_Germany" title="2009 European Parliament election in Germany">2009</a></li> <li><a href="/wiki/2014_European_Parliament_election_in_Germany" title="2014 European Parliament election in Germany">2014</a></li> <li><a href="/wiki/2019_European_Parliament_election_in_Germany" title="2019 European Parliament election in Germany">2019</a></li> <li><a href="/wiki/2024_European_Parliament_election_in_Germany" title="2024 European Parliament election in Germany"><i>2024</i></a></li></ul> </div> <hr /></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)">State and local politics</div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><b>State Politics</b></li></ul> <hr /> <div class="plainlist"> <ul><li><a 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title="Foreign relations of Germany"><span style="color:#000;">Foreign relations</span></a></div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"><br /> <hr /> <ul><li><b>Foreign relations by country</b></li></ul> <hr /> <ul><li><a href="/wiki/France%E2%80%93Germany_relations" title="France–Germany relations">France</a></li> <li><a href="/wiki/Germany%E2%80%93Italy_relations" title="Germany–Italy relations">Italy</a></li> <li><a href="/wiki/Germany%E2%80%93United_Kingdom_relations" title="Germany–United Kingdom relations">UK</a></li> <li><a href="/wiki/Germany%E2%80%93United_States_relations" title="Germany–United States relations">USA</a></li> <li><a href="/wiki/China%E2%80%93Germany_relations" title="China–Germany relations">China</a></li> <li><a href="/wiki/Germany%E2%80%93Russia_relations" title="Germany–Russia relations">Russia</a></li></ul> <hr /> <ul><li><b>International Relations</b></li></ul> <hr /> <ul><li><a href="/wiki/Politics_of_the_European_Union" title="Politics of the European Union">Politics of the European Union</a></li> <li><a href="/wiki/Visa_requirements_for_German_citizens" title="Visa requirements for German citizens">Visa</a></li> <li><a href="/wiki/German_passport" title="German passport">Passport</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:#FFCC00; color:black; border: 1px double #8C959A;;color: var(--color-base)">Political ideologies</div><div class="sidebar-list-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Political_culture_of_Germany" title="Political culture of Germany">Political culture</a> / <a href="/wiki/Federalism_in_Germany" title="Federalism in Germany">Federalism</a></li></ul> <hr /> <div class="plainlist"> <ul><li><a href="/wiki/Communism_in_Germany_(disambiguation)" class="mw-redirect mw-disambig" title="Communism in Germany (disambiguation)">Communism</a></li> <li><a href="/wiki/Conservatism_in_Germany" title="Conservatism in Germany">Conservatism</a> (<a href="/wiki/Agrarian_Conservatism_in_Germany" class="mw-redirect" title="Agrarian Conservatism in Germany">Agrarian Conservatism</a>)</li> <li><a href="/wiki/Far-right_politics_in_Germany_(1945%E2%80%93present)" title="Far-right politics in Germany (1945–present)">Far-right</a></li> <li><a href="/wiki/Liberalism_in_Germany" title="Liberalism in Germany">Liberalism</a></li> <li><a href="/wiki/History_of_the_Social_Democratic_Party_of_Germany" title="History of the Social Democratic Party of Germany">Social Democracy</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-below hlist"> <ul><li><span class="nowrap"><span class="nowrap"><span class="mw-image-border noviewer" typeof="mw:File"><span><img alt="flag" 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srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/01/A_coloured_voting_box.svg/24px-A_coloured_voting_box.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/01/A_coloured_voting_box.svg/32px-A_coloured_voting_box.svg.png 2x" data-file-width="160" data-file-height="160" /></a></span> </span><a href="/wiki/Portal:Politics" title="Portal:Politics">Politics portal</a></span></li></ul> <div class="hlist" style="text-align:center;font-weight:normal;"> <ul><li><a href="/wiki/Outline_of_political_science#Politics_by_region" title="Outline of political science">Other countries</a></li></ul> </div></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Politics_of_Germany" title="Template:Politics of Germany"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Politics_of_Germany" title="Template talk:Politics of Germany"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Politics_of_Germany" title="Special:EditPage/Template:Politics of Germany"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>After the ECB took over responsibility for currency, the Bundesbank continued to exist. Its duties were redefined by the 7th Law amending the "Law on the German Bundesbank" of 30 April 2002, in Section 3 of the Bundesbank Act:<sup id="cite_ref-BBankG_-en_9-0" class="reference"><a href="#cite_note-BBankG_-en-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <dl><dd>The Bundesbank, being the central bank of the Federal Republic of Germany, is an integral part of the European System of Central Banks (ESCB). It shall participate in the performance of the ESCB's tasks with the primary objective of maintaining price stability, and shall arrange for the execution of domestic and international payments. In addition, it shall discharge the duties assigned to it under this Act or other legislation.</dd></dl> <p>Unlike other central banks such as the <a href="/wiki/Bank_of_England" title="Bank of England">Bank of England</a> and the U.S. <a href="/wiki/Federal_Reserve" title="Federal Reserve">Federal Reserve</a> (but like the ECB), the Bundesbank is not officially responsible for maintaining the stability of the financial system and is not a <a href="/wiki/Lender_of_last_resort" title="Lender of last resort">lender of last resort</a>.<sup id="cite_ref-Prati_10-0" class="reference"><a href="#cite_note-Prati-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> For 2022, the Bundesbank recorded its first loss since 1979.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>Based on the Bundesbank Act and the ECB Statute, the Bundesbank has four areas of activity, which it mostly handles jointly with the ECB: </p> <div class="mw-heading mw-heading3"><h3 id="The_Bundesbank_as_a_note-issuing_bank">The Bundesbank as a note-issuing bank</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=8" title="Edit section: The Bundesbank as a note-issuing bank"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>As a note-issuing bank, the Bundesbank provides the economy with cash, and ensures the physical circulation of <a href="/wiki/Cash" title="Cash">cash</a>. It checks the cash delivered by banks and money transport companies, removes counterfeit money from circulation and hands it to the police. It changes D-Mark holdings still in circulation, without any time limit and replaces damaged or mutilated notes (National Analysis Centre for Counterfeit and Damaged Banknotes and Coins). It also issues information on the safety mechanisms for notes and coins and issues a weekly bulletin on the volume of cash in circulation. </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8b/Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg/220px-Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg" decoding="async" width="220" height="124" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8b/Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg/330px-Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8b/Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg/440px-Mercedes-Benz_Actros_Geldtransporter_Deutsche_Bundesbank.jpg 2x" data-file-width="1600" data-file-height="900" /></a><figcaption>Public money transfer of the <b>Deutsche Bundesbank</b> with an armored <a href="/wiki/Mercedes-Benz_Actros" title="Mercedes-Benz Actros">Mercedes-Benz Actros</a> and <a href="/wiki/Mercedes-Benz_S-Class#Safety" title="Mercedes-Benz S-Class">Mercedes W221 S-Guard</a> support vehicles</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="The_Bundesbank_as_the_banks'_banker"><span id="The_Bundesbank_as_the_banks.27_banker"></span>The Bundesbank as the banks' banker</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=9" title="Edit section: The Bundesbank as the banks' banker"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In relation to the <a href="/wiki/Commercial_bank" title="Commercial bank">commercial banking</a> system, the Bundesbank has two functions: </p> <div class="mw-heading mw-heading4"><h4 id="Clearing_house_for_commercial_banks">Clearing house for commercial banks</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=10" title="Edit section: Clearing house for commercial banks"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Firstly, the Bundesbank is a <i>refinancing source</i> and <a href="/wiki/Clearing_house_(finance)" title="Clearing house (finance)">clearing house</a> for the commercial banks. The commercial banks can use what are known as "refinancing instruments" to cover their needs for <a href="/wiki/Monetary_base" title="Monetary base">central bank money</a> through the Bundesbank and the ECB. Until the end of 1998, the control of the money supply by this method was one of the main tasks of the Bundesbank. Since 1 January 1999, one of the principal aims of the ECB has been to maintain price stability by means of its monetary strategy. Commercial banks can deposit money that is temporarily surplus to requirements with the Bundesbank/ECB (known as a deposit facility). The Bundesbank supports cross-border payments between domestic and foreign commercial banks, for instance by means of the German <a href="/wiki/Real-time_gross_settlement" title="Real-time gross settlement">real time gross transfer</a> system <a href="/w/index.php?title=RTGSplus&action=edit&redlink=1" class="new" title="RTGSplus (page does not exist)">RTGSplus</a> and <a href="/wiki/TARGET2" title="TARGET2">TARGET2</a>. </p> <div class="mw-heading mw-heading4"><h4 id="Bank_supervision">Bank supervision</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=11" title="Edit section: Bank supervision"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The bank also helps to regulate commercial banks, in close cooperation with the German financial regulatory agency the <a href="/wiki/Federal_Financial_Supervisory_Authority_(Germany)" class="mw-redirect" title="Federal Financial Supervisory Authority (Germany)"><i>Bundesanstalt für Finanzdienstleistungsaufsicht</i></a> (BaFin).<sup id="cite_ref-mou-BaFin_12-0" class="reference"><a href="#cite_note-mou-BaFin-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="The_Bundesbank_as_the_state's_banker"><span id="The_Bundesbank_as_the_state.27s_banker"></span>The Bundesbank as the state's banker</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=12" title="Edit section: The Bundesbank as the state's banker"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>As the state's banker, the Bundesbank provides accounts and performs normal banking services for federal, state (<i>Land</i>) and local authorities, as well as for the statutory <a href="/wiki/Social_security" class="mw-redirect" title="Social security">social security</a> organizations. All such accounts are required to have a positive balance, i.e. the Bundesbank is not allowed to grant credits to the public sector. This is due to negative historical precedents in connection with the financing of two world wars by the <a href="/wiki/Deutsche_Reichsbank" class="mw-redirect" title="Deutsche Reichsbank">Deutsche Reichsbank</a>. It also carries out securities transactions for the federal government (<i>Bundesfinanzagentur</i>). </p> <div class="mw-heading mw-heading3"><h3 id="The_Bundesbank_as_the_keeper_of_the_currency_reserves">The Bundesbank as the keeper of the currency reserves</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=13" title="Edit section: The Bundesbank as the keeper of the currency reserves"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Currency_reserves" class="mw-redirect" title="Currency reserves">Currency reserves</a> are all assets of the Bundesbank that are not specified in EUR, including <a href="/wiki/Gold_reserves" class="mw-redirect" title="Gold reserves">gold reserves</a>, securities in foreign currency, credit with foreign banks, foreign exchange, etc. Currency reserves can be invested for profit and also provide a possibility of intervening in the market if the exchange rate fluctuates strongly. The gold reserves of the Bundesbank are the second largest in the world (after the U.S. Federal Reserve). As of late 2021, the Bundesbank has over 3,359 <a href="/wiki/Tonne" title="Tonne">tonnes</a> of gold reserves.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Structure">Structure</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=14" title="Edit section: Structure"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Bundesbank_Hauptverwaltungen.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Bundesbank_Hauptverwaltungen.svg/220px-Bundesbank_Hauptverwaltungen.svg.png" decoding="async" width="220" height="298" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Bundesbank_Hauptverwaltungen.svg/330px-Bundesbank_Hauptverwaltungen.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c9/Bundesbank_Hauptverwaltungen.svg/440px-Bundesbank_Hauptverwaltungen.svg.png 2x" data-file-width="592" data-file-height="801" /></a><figcaption>Map of the regional headquarters of the Bundesbank</figcaption></figure> <p>The Bundesbank has nine regional headquarters in the <a href="/wiki/Bundesland_(Germany)" class="mw-redirect" title="Bundesland (Germany)"><i>Länder</i></a>, the former central banks of the <i>Länder</i> and 31 branches (<i>Filiale</i>). As of 30 June 2006, the Bundesbank had a total of 12,474 employees.<sup id="cite_ref-Personnel_statistics_14-0" class="reference"><a href="#cite_note-Personnel_statistics-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> These are available to banks, public authorities and money transport enterprises for the provision of <a href="/wiki/Cash" title="Cash">cash</a> and the clearing of credit transfer. The nine regional headquarters are: </p> <ul><li><a href="/wiki/Frankfurt" title="Frankfurt">Frankfurt</a> – federal headquarters, also governing the state of <a href="/wiki/Hesse" title="Hesse">Hesse</a>.</li> <li><a href="/wiki/Stuttgart" title="Stuttgart">Stuttgart</a>, governing the state of <a href="/wiki/Baden-W%C3%BCrttemberg" title="Baden-Württemberg">Baden-Württemberg</a></li> <li><a href="/wiki/Munich" title="Munich">Munich</a>, governing the state of <a href="/wiki/Bavaria" title="Bavaria">Bavaria</a></li> <li><a href="/wiki/Berlin" title="Berlin">Berlin</a>, governing federal city <a href="/wiki/Berlin" title="Berlin">Berlin</a> and the state of <a href="/wiki/Brandenburg" title="Brandenburg">Brandenburg</a></li> <li><a href="/wiki/Hanover" title="Hanover">Hanover</a>, governing the states of <a href="/wiki/Bremen" title="Bremen">Bremen</a>, <a href="/wiki/Lower_Saxony" title="Lower Saxony">Lower Saxony</a> and <a href="/wiki/Saxony-Anhalt" title="Saxony-Anhalt">Saxony-Anhalt</a></li> <li><a href="/wiki/Hamburg" title="Hamburg">Hamburg</a>, governing the states of <a href="/wiki/Hamburg" title="Hamburg">Hamburg</a>, <a href="/wiki/Mecklenburg-Vorpommern" title="Mecklenburg-Vorpommern">Mecklenburg-Vorpommern</a> and <a href="/wiki/Schleswig-Holstein" title="Schleswig-Holstein">Schleswig-Holstein</a></li> <li><a href="/wiki/D%C3%BCsseldorf" title="Düsseldorf">Düsseldorf</a>, governing the state of <a href="/wiki/North_Rhine-Westphalia" title="North Rhine-Westphalia">North Rhine-Westphalia</a></li> <li><a href="/wiki/Mainz" title="Mainz">Mainz</a>, governing the states of <a href="/wiki/Rhineland-Palatinate" title="Rhineland-Palatinate">Rhineland-Palatinate</a> and <a href="/wiki/Saarland" title="Saarland">Saarland</a></li> <li><a href="/wiki/Leipzig" title="Leipzig">Leipzig</a>, governing the states of <a href="/wiki/Saxony" title="Saxony">Saxony</a> and <a href="/wiki/Thuringia" title="Thuringia">Thuringia</a></li></ul> <div class="mw-heading mw-heading4"><h4 id="Governance">Governance</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=15" title="Edit section: Governance"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The executive board (<i>Vorstand</i>) is the supreme governing body of the Bundesbank. It comprises:<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> the president, the vice president and one additional board member, nominated by the German government, plus three additional members of the executive board, nominated by the <a href="/wiki/Bundesrat_(Germany)" class="mw-redirect" title="Bundesrat (Germany)">Bundesrat</a>. All members of the executive board are appointed by the <a href="/wiki/President_of_Germany" title="President of Germany">President of Germany</a>, normally for eight years, but at least for five years. </p> <div class="mw-heading mw-heading2"><h2 id="Presidents_of_the_Bundesbank">Presidents of the Bundesbank</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=16" title="Edit section: Presidents of the Bundesbank"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Presidents_of_the_predecessors_to_the_Bundesbank">Presidents of the predecessors to the Bundesbank</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=17" title="Edit section: Presidents of the predecessors to the Bundesbank"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>1948–1957: <a href="/w/index.php?title=Karl_Bernard_(banker)&action=edit&redlink=1" class="new" title="Karl Bernard (banker) (page does not exist)">Karl Bernard</a><span class="noprint" style="font-size:85%; font-style: normal;"> [<a href="https://de.wikipedia.org/wiki/Karl_Bernard" class="extiw" title="de:Karl Bernard">de</a>; <a href="https://ru.wikipedia.org/wiki/%D0%91%D0%B5%D1%80%D0%BD%D0%B0%D1%80%D0%B4,_%D0%9A%D0%B0%D1%80%D0%BB" class="extiw" title="ru:Бернард, Карл">ru</a>]</span>, Chairman of the Central Bank Council (<i>Zentralbankrat</i>) of the Bank deutscher Länder</li> <li>1948–1957: <a href="/w/index.php?title=Wilhelm_Vocke&action=edit&redlink=1" class="new" title="Wilhelm Vocke (page does not exist)">Wilhelm Vocke</a><span class="noprint" style="font-size:85%; font-style: normal;"> [<a href="https://de.wikipedia.org/wiki/Wilhelm_Vocke" class="extiw" title="de:Wilhelm Vocke">de</a>]</span>, President of the Directorate of the Bank deutscher Länder, from 1 August 1957</li></ul> <div class="mw-heading mw-heading3"><h3 id="Presidents_of_the_Bundesbank_2">Presidents of the Bundesbank</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=18" title="Edit section: Presidents of the Bundesbank"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>1958–1969: <a href="/wiki/Karl_Blessing" title="Karl Blessing">Karl Blessing</a></li> <li>1969–1977: <a href="/wiki/Karl_Klasen" title="Karl Klasen">Karl Klasen</a></li> <li>1977–1979: <a href="/wiki/Otmar_Emminger" title="Otmar Emminger">Otmar Emminger</a></li> <li>1980–1991: <a href="/wiki/Karl_Otto_P%C3%B6hl" title="Karl Otto Pöhl">Karl Otto Pöhl</a></li> <li>1991–1993: <a href="/wiki/Helmut_Schlesinger" title="Helmut Schlesinger">Helmut Schlesinger</a></li> <li>1993–1999: <a href="/wiki/Hans_Tietmeyer" title="Hans Tietmeyer">Hans Tietmeyer</a></li> <li>1999–2004: <a href="/wiki/Ernst_Welteke" title="Ernst Welteke">Ernst Welteke</a></li> <li>2004: <a href="/wiki/J%C3%BCrgen_Stark" title="Jürgen Stark">Jürgen Stark</a>, interim president</li> <li>2004–2011: <a href="/wiki/Axel_A._Weber" title="Axel A. Weber">Axel A. Weber</a></li> <li>2011–2021: <a href="/wiki/Jens_Weidmann" title="Jens Weidmann">Jens Weidmann</a></li> <li>Since 2022: <a href="/wiki/Joachim_Nagel" title="Joachim Nagel">Joachim Nagel</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Current_Executive_Board_of_the_Bundesbank">Current Executive Board of the Bundesbank</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=19" title="Edit section: Current Executive Board of the Bundesbank"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Bundesbank's decision-making body is the executive board. According to current regulations, it comprises the President, the vice-president and four other members. As of September 2024<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Deutsche_Bundesbank&action=edit">[update]</a></sup>, its membership is as follows:<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <ul><li><a href="/wiki/Joachim_Nagel" title="Joachim Nagel">Joachim Nagel</a> (President)</li> <li><a href="/wiki/Sabine_Mauderer" title="Sabine Mauderer">Sabine Mauderer</a> (vice-president)</li> <li><a href="/wiki/Burkhard_Balz" title="Burkhard Balz">Burkhard Balz</a></li> <li><a href="/w/index.php?title=Lutz_Lienenk%C3%A4mper&action=edit&redlink=1" class="new" title="Lutz Lienenkämper (page does not exist)">Lutz Lienenkämper</a></li> <li><a href="/wiki/Michael_Theurer" title="Michael Theurer">Michael Theurer</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Disputes_between_the_Bundesbank_and_the_government">Disputes between the Bundesbank and the government</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=20" title="Edit section: Disputes between the Bundesbank and the government"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The statutory independence of the central bank guaranteed by the Bundesbank Act does not ensure that there will be no disputes between the central bank and government. </p> <div class="mw-heading mw-heading3"><h3 id="Dispute_over_currency_union_with_East_Germany">Dispute over currency union with East Germany</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=21" title="Edit section: Dispute over currency union with East Germany"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>One particularly public dispute was in the lead-up to German re-unification. When a customs union was created between the former East Germany (<a href="/wiki/German_Democratic_Republic" class="mw-redirect" title="German Democratic Republic">German Democratic Republic</a>) and <a href="/wiki/West_Germany" title="West Germany">West Germany</a> (the "old" Federal Republic of Germany), there was a dispute over the rate of exchange for conversion of East German money to Deutschmarks. The Chancellor (<a href="/wiki/Helmut_Kohl" title="Helmut Kohl">Helmut Kohl</a>) decided to ignore the advice of the Bundesbank, and chose an exchange rate of 1:1. The Bundesbank feared that this would be excessively inflationary as well as very significantly impairing the economic prospects of the area of the former East Germany. This dispute was particularly public because of the Bundesbank policy of communicating openly on such matters. Although public opinion normally supported the Bundesbank in matters of combating inflation, in this case Helmut Kohl prevailed, and the President of the Bundesbank, Pöhl, resigned. The Bundesbank had to use monetary measures to offset the inflationary effect.<sup id="cite_ref-IMF1_17-0" class="reference"><a href="#cite_note-IMF1-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="The_Bundesbank_in_the_news">The Bundesbank in the news</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=22" title="Edit section: The Bundesbank in the news"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2004 the president of the Bundesbank, <a href="/wiki/Ernst_Welteke" title="Ernst Welteke">Ernst Welteke</a>, resigned after the press published allegations that his hotel bills for a New Year celebration had been paid by a commercial bank and he was criticized for his handling of the affair. There were also some allegations that this was part of a political intrigue to remove Welteke from office because he opposed selling Bundesbank gold reserves, as desired by the government. After Pöhl (see <a href="#Dispute_over_currency_union_with_East_Germany">above</a>), Welteke was the second Bundesbank president to resign.<sup id="cite_ref-Rhetorik_18-0" class="reference"><a href="#cite_note-Rhetorik-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Zeit1_19-0" class="reference"><a href="#cite_note-Zeit1-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p><p>On Wednesday, 24 February 2016, as part of the <a href="/wiki/Bundesbank" class="mw-redirect" title="Bundesbank">Bundesbank</a>'s annual news conference, <a href="/wiki/Bundesbank" class="mw-redirect" title="Bundesbank">Bundesbank</a> president and <a href="/wiki/European_Central_Bank" title="European Central Bank">European Central Bank</a> Governing Council member, <a href="/wiki/Jens_Weidmann" title="Jens Weidmann">Jens Weidmann</a>, dismissed deflation in light of the <a href="/wiki/European_Central_Bank" title="European Central Bank">ECB</a>'s current stimulus program, pointing out the healthy condition of the <a href="/wiki/Economy_of_Germany" title="Economy of Germany">German economy</a> and that the <a href="/wiki/Eurozone" title="Eurozone">euro area</a> isn't that bad off, on the eve of the 9–10 March 2016 meetings.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Involvement_in_the_European_sovereign_debt_crisis">Involvement in the European sovereign debt crisis</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=23" title="Edit section: Involvement in the European sovereign debt crisis"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/European_sovereign_debt_crisis" class="mw-redirect" title="European sovereign debt crisis">European sovereign debt crisis</a></div> <p>In June 2012, it was estimated that the Bundesbank had €644 billion exposure to other central banks in the <a href="/wiki/Eurozone" title="Eurozone">eurozone</a> under the <a href="/wiki/TARGET2" title="TARGET2">TARGET2</a> payment system. Only three other eurozone central banks had net exposure from the system; all others had the offsetting net exposure due to the system. The net exposure finances trade imbalances and capital flight.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> The Bundesbank is the largest shareholder of the <a href="/wiki/European_Central_Bank" title="European Central Bank">European Central Bank</a>. The ECB has bought up more than €200 billion in sovereign debt from crisis-ridden countries. Some of this would have to be written off in the case of a euro collapse, which would entail corresponding losses for the Bundesbank.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>On 27 January 2014, the Bundesbank called for a capital levy on citizens of a nation before that nation applies for relief under the <a href="/wiki/European_Financial_Stability_Facility" title="European Financial Stability Facility">European Financial Stability Facility</a>. The levy "corresponds to the principle of national responsibility, according to which tax payers are responsible for their government's obligations before solidarity of other states is required".<sup id="cite_ref-levy_23-0" class="reference"><a href="#cite_note-levy-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> This followed an <a href="/wiki/IMF" class="mw-redirect" title="IMF">IMF</a> report from October 2013 which proposed a similar wealth tax.<sup id="cite_ref-levy_23-1" class="reference"><a href="#cite_note-levy-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Publications_of_the_Bundesbank">Publications of the Bundesbank</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=24" title="Edit section: Publications of the Bundesbank"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Bundesbank produces a number of regular publications and statistics (see Web site) </p> <ul><li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20061014100447/http://www.bundesbank.de/presse/presse_veroeffentlichungen.en.php">English publications of the Bundesbank</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20061020021843/http://www.bundesbank.de/presse/presse_finanzstabilitaetsbericht.en.php">Financial Stability Review</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=25" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 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src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9d/All-currency-symbol.svg/28px-All-currency-symbol.svg.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9d/All-currency-symbol.svg/42px-All-currency-symbol.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9d/All-currency-symbol.svg/56px-All-currency-symbol.svg.png 2x" data-file-width="54" data-file-height="54" /></span></span></span><span class="portalbox-link"><a href="/wiki/Portal:Banks" title="Portal:Banks">Banks portal</a></span></li></ul> <ul><li><a href="/wiki/Economy_of_Germany" title="Economy of Germany">Economy of Germany</a></li> <li><a href="/wiki/German_mark" class="mw-redirect" title="German mark">German mark</a></li> <li><a href="/wiki/List_of_central_banks" title="List of central banks">List of central banks</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=26" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-dnbinfo-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-dnbinfo_1-0">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFWeidner2017" class="citation web cs1">Weidner, Jan (2017). <a rel="nofollow" class="external text" href="https://d-nb.info/1138787981/34">"The Organisation and Structure of Central Banks"</a> <span class="cs1-format">(PDF)</span>. <i>Katalog der Deutschen 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Retrieved <span class="nowrap">31 August</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=report&rft.btitle=15C.+The+Model+of+the+Deutsche+Bundesbank&rft.pub=IMF&rft.date=1995-08-03&rft.isbn=9781557754981&rft.au=Bertold+Wahlig&rft_id=https%3A%2F%2Fwww.elibrary.imf.org%2Fconfigurable%2Fcontent%2Fbook%24002f9781557754981%24002fch037.xml%3Ft%3Aac%3Dbook%2524002f9781557754981%2524002fch037.xml&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1 cs1-prop-foreign-lang-source"><a rel="nofollow" class="external text" href="https://www.bundesbank.de/de/bundesbank/organisation/die-bundesbank-in-zahlen/die-bundesbank-in-zahlen-604102">"Die Bundesbank in Zahlen"</a>. <i>bundesbank.de</i> (in German). 23 February 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">31 August</span> 2024</span>. <q>Bilanzsumme - 2,516,001 Mio € (2023)</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=bundesbank.de&rft.atitle=Die+Bundesbank+in+Zahlen&rft.date=2024-02-23&rft_id=https%3A%2F%2Fwww.bundesbank.de%2Fde%2Fbundesbank%2Forganisation%2Fdie-bundesbank-in-zahlen%2Fdie-bundesbank-in-zahlen-604102&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.bundesbank.de/en/bundesbank/organisation/the-bundesbank-key-figures/the-bundesbank-key-figures-618324">"The Bundesbank: key figures"</a>. <i>bundesbank.de</i>. 23 February 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">31 August</span> 2024</span>. <q>Total assets - €2,516,001 million (2023)</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=bundesbank.de&rft.atitle=The+Bundesbank%3A+key+figures&rft.date=2024-02-23&rft_id=https%3A%2F%2Fwww.bundesbank.de%2Fen%2Fbundesbank%2Forganisation%2Fthe-bundesbank-key-figures%2Fthe-bundesbank-key-figures-618324&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.swfinstitute.org/fund-rankings/central-bank">"Top 100 Largest Central Bank Rankings by Total Assets"</a>. <i>swfinstitute.org</i>. 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Retrieved 2012-06-07.</span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBöll,_SvenHawranek,_DietmarHesse,_MartinJung,_Alexander2012" class="citation news cs1">Böll, Sven; Hawranek, Dietmar; Hesse, Martin; Jung, Alexander; Neubacher, Alexander; Reiermann, Christian; Sauga, Michael; Schult, Christoph; Seith, Anne (25 June 2012). <a rel="nofollow" class="external text" href="http://www.spiegel.de/international/europe/fears-grow-of-consequences-of-potential-euro-collapse-a-840634-3.html">"Imagining the Unthinkable. The Disastrous Consequences of a Euro Crash"</a>. <i>Der Spiegel</i>. Translated by Sultan, Christopher. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120628013310/http://www.spiegel.de/international/europe/fears-grow-of-consequences-of-potential-euro-collapse-a-840634-3.html">Archived</a> from the original on 28 June 2012<span class="reference-accessdate">. Retrieved <span class="nowrap">26 June</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Der+Spiegel&rft.atitle=Imagining+the+Unthinkable.+The+Disastrous+Consequences+of+a+Euro+Crash&rft.date=2012-06-25&rft.au=B%C3%B6ll%2C+Sven&rft.au=Hawranek%2C+Dietmar&rft.au=Hesse%2C+Martin&rft.au=Jung%2C+Alexander&rft.au=Neubacher%2C+Alexander&rft.au=Reiermann%2C+Christian&rft.au=Sauga%2C+Michael&rft.au=Schult%2C+Christoph&rft.au=Seith%2C+Anne&rft_id=http%3A%2F%2Fwww.spiegel.de%2Finternational%2Feurope%2Ffears-grow-of-consequences-of-potential-euro-collapse-a-840634-3.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></span> </li> <li id="cite_note-levy-23"><span class="mw-cite-backlink">^ <a href="#cite_ref-levy_23-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-levy_23-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.reuters.com/article/us-eurozone-crisis-bundesbank-idUSBREA0Q0HV20140127">Reuters: "Bundesbank calls for capital levy to avert government bankruptcies" 27 Jan 2014</a></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=27" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDeutsche_Bundesbank1998" class="citation book cs1">Deutsche Bundesbank, ed. (1998). <i>Fifty years of the Deutsche Mark: Central Bank and the currency in Germany since 1948 / with contributions by Ernst Baltensperger ... [et al.]; with a preface by Hans Tietmeyer ; and a foreword by Otmar Issing(Fünfzig Jahre Deutsche Mark. English.)</i>. Oxford: Oxford University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-19-829254-6" title="Special:BookSources/0-19-829254-6"><bdi>0-19-829254-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Fifty+years+of+the+Deutsche+Mark%3A+Central+Bank+and+the+currency+in+Germany+since+1948+%2F+with+contributions+by+Ernst+Baltensperger+...+%5Bet+al.%5D%3B+with+a+preface+by+Hans+Tietmeyer+%3B+and+a+foreword+by+Otmar+Issing%28F%C3%BCnfzig+Jahre+Deutsche+Mark.+English.%29&rft.place=Oxford&rft.pub=Oxford+University+Press&rft.date=1998&rft.isbn=0-19-829254-6&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFrowen,_Stephen_F.Pringle,_Robert1998" class="citation book cs1">Frowen, Stephen F.; Pringle, Robert, eds. (1998). <i>Inside the Bundesbank</i>. foreword by Hans Tietmeyer. Basingstoke: Macmillan in association with Central Banking. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-333-69988-1" title="Special:BookSources/978-0-333-69988-1"><bdi>978-0-333-69988-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Inside+the+Bundesbank&rft.place=Basingstoke&rft.pub=Macmillan+in+association+with+Central+Banking&rft.date=1998&rft.isbn=978-0-333-69988-1&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGailhofer,_Sunna2020" class="citation cs2">Gailhofer, Sunna, ed. (2020), <a rel="nofollow" class="external text" href="https://www.bundesbank.de/resource/blob/836872/d9927ddabb7f4e05fb9711c0b6b9388c/mL/vergangenheit-wird-zukunft-data.pdf"><i>The Past Becomes the Future: The Deutsche Bundesbank's Central Office in Frankfurt am Main</i></a> <span class="cs1-format">(PDF)</span>, Frankfurt am Main: Deutsche Bundesbank, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-95729-768-6" title="Special:BookSources/978-3-95729-768-6"><bdi>978-3-95729-768-6</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Past+Becomes+the+Future%3A+The+Deutsche+Bundesbank%27s+Central+Office+in+Frankfurt+am+Main&rft.place=Frankfurt+am+Main&rft.pub=Deutsche+Bundesbank&rft.date=2020&rft.isbn=978-3-95729-768-6&rft_id=https%3A%2F%2Fwww.bundesbank.de%2Fresource%2Fblob%2F836872%2Fd9927ddabb7f4e05fb9711c0b6b9388c%2FmL%2Fvergangenheit-wird-zukunft-data.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarsh1992" class="citation book cs1">Marsh, David (1992). <i>The Bundesbank: The Bank That Rules Europe</i>. London: Heinemann. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-434-45116-9" title="Special:BookSources/0-434-45116-9"><bdi>0-434-45116-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Bundesbank%3A+The+Bank+That+Rules+Europe&rft.place=London&rft.pub=Heinemann&rft.date=1992&rft.isbn=0-434-45116-9&rft.aulast=Marsh&rft.aufirst=David&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADeutsche+Bundesbank" class="Z3988"></span></li> <li><i>Die Deutsche Bundesbank. Aufgabenfelder, Rechtlicher Rahmen, Geschichte</i>, Selbstverlag der Deutschen Bundesbank: Frankfurt am Main, April 2006, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/3-86558-151-X" title="Special:BookSources/3-86558-151-X">3-86558-151-X</a> (<a rel="nofollow" class="external text" href="https://web.archive.org/web/20061208003014/http://www.bundesbank.de/download/presse/publikationen/buchbundesbank.pdf">PDF</a>) <span class="languageicon">(in German)</span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Deutsche_Bundesbank&action=edit&section=28" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style 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aria-labelledby="Germany_articles" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Germany_topics" title="Template:Germany topics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Germany_topics" title="Template talk:Germany topics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Germany_topics" title="Special:EditPage/Template:Germany topics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Germany_articles" style="font-size:114%;margin:0 4em"><a href="/wiki/Germany" title="Germany">Germany</a> <a href="/wiki/Outline_of_Germany" title="Outline of Germany">articles</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">General <br /> History</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Overviews</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_Germany" title="History of Germany">History of Germany</a></li> <li><a href="/wiki/Timeline_of_German_history" title="Timeline of German history">Timeline</a></li> <li><a href="/wiki/Historiography_of_Germany" title="Historiography of Germany">Historiography</a></li> <li><a href="/wiki/Military_history_of_Germany" title="Military history of Germany">Military history</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Ancient</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Germanic_peoples" title="Germanic peoples">Germanic peoples</a></li> <li><a href="/wiki/Migration_Period" title="Migration Period">Migration Period</a></li> <li><a href="/wiki/List_of_early_Germanic_peoples" title="List of early Germanic peoples">List of early Germanic peoples</a></li> <li><a href="/wiki/Goths" title="Goths">Goths</a></li> <li><a href="/wiki/Teutons" title="Teutons">Teutons</a></li> <li><a href="/wiki/Visigoths" title="Visigoths">Visigoths</a></li> <li><a href="/wiki/History_of_the_Huns" title="History of the Huns">History of the Huns</a></li> <li><a href="/wiki/Chronology_of_warfare_between_the_Romans_and_Germanic_peoples" title="Chronology of warfare between the Romans and Germanic peoples">Chronology of warfare between the Romans and Germanic peoples</a></li> <li><a href="/wiki/Cimbrian_War" title="Cimbrian War">Cimbrian War</a></li> <li><a href="/wiki/Roman_campaigns_in_Germania_(12_BC_%E2%80%93_AD_16)" title="Roman campaigns in Germania (12 BC – AD 16)">Roman campaigns in Germania (12 BC – AD 16)</a></li> <li><a href="/wiki/Marcomannic_Wars" title="Marcomannic Wars">Marcomannic Wars</a></li> <li><a href="/wiki/Gothic_Wars" class="mw-redirect" title="Gothic Wars">Gothic Wars</a></li> <li><a href="/wiki/Sack_of_Rome_(410)" title="Sack of Rome (410)">Sack of Rome (410)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Middle Ages</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Francia" title="Francia">Frankish Empire</a></li> <li><a href="/wiki/Treaty_of_Verdun" title="Treaty of Verdun">Treaty of Verdun</a></li> <li><a href="/wiki/East_Francia" title="East Francia">East Francia</a></li> <li><a href="/wiki/Carolingian_Empire" title="Carolingian Empire">Carolingian Empire</a></li> <li><a href="/wiki/Carolingian_dynasty" title="Carolingian dynasty">Carolingian dynasty</a></li> <li><a href="/wiki/Holy_Roman_Empire" title="Holy Roman Empire">Holy Roman Empire</a></li> <li><a href="/wiki/Ostsiedlung" title="Ostsiedlung">Ostsiedlung (East Colonisation)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Modern</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Germany_in_the_early_modern_period" title="Germany in the early modern period">Early modern period, 1500–1800</a></li> <li><a href="/wiki/18th-century_history_of_Germany" title="18th-century history of Germany">18th-century</a></li> <li><a href="/wiki/Confederation_of_the_Rhine" title="Confederation of the Rhine">Confederation of the Rhine</a></li> <li><a href="/wiki/German_revolutions_of_1848%E2%80%931849" title="German revolutions of 1848–1849">German revolutions of 1848–1849</a></li> <li><a href="/wiki/German_Confederation" title="German Confederation">German Confederation</a></li> <li><a href="/wiki/Frankfurt_Constitution" title="Frankfurt Constitution">Frankfurt Constitution</a></li> <li><a href="/wiki/North_German_Confederation" title="North German Confederation">North German Confederation</a></li> <li><a href="/wiki/Unification_of_Germany" title="Unification of Germany">Unification of Germany</a></li> <li><a href="/wiki/German_Empire" title="German Empire">German Empire</a></li> <li><a href="/wiki/History_of_Germany_during_World_War_I" title="History of Germany during World War I">World War I</a></li> <li><a href="/wiki/War_guilt_question" title="War guilt question">War guilt question</a></li> <li><a href="/wiki/German_Revolution_of_1918%E2%80%931919" class="mw-redirect" title="German Revolution of 1918–1919">Revolution of 1918</a></li> <li><a href="/wiki/Weimar_Republic" title="Weimar Republic">Weimar Republic</a></li> <li><a href="/wiki/Nazi_Germany" title="Nazi Germany">Nazi Germany</a></li> <li><a href="/wiki/Nazi_Germany#World_War_II" title="Nazi Germany">World War II</a></li> <li><a href="/wiki/Allied-occupied_Germany" title="Allied-occupied Germany">Allied occupation</a></li> <li><a href="/wiki/Flight_and_expulsion_of_Germans_(1944%E2%80%931950)" title="Flight and expulsion of Germans (1944–1950)">Flight and expulsions</a></li> <li><a href="/wiki/Denazification" title="Denazification">Denazification</a></li> <li><a href="/wiki/History_of_Germany_(1945%E2%80%931990)" title="History of Germany (1945–1990)">Divided Germany</a> <ul><li><a href="/wiki/East_Germany" title="East Germany">East Germany</a></li> <li><a href="/wiki/West_Germany" title="West Germany">West Germany</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Contemporary</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/German_reunification" title="German reunification">Reunification</a></li> <li><a href="/wiki/History_of_Germany_since_1990" class="mw-redirect" title="History of Germany since 1990">History of Germany since 1990</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Regions</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_Prussia" class="mw-redirect" title="History of Prussia">History of Prussia</a></li> <li><a href="/wiki/History_of_Brandenburg" class="mw-redirect" title="History of Brandenburg">History of Brandenburg</a></li> <li><a href="/wiki/Cologne_War" title="Cologne War">Cologne War</a>, 1583–1588</li> <li><a href="/wiki/Baden_Revolution" title="Baden Revolution">Baden Revolution</a>, 1848</li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Geography_of_Germany" title="Geography of Germany">Geography</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Administrative_divisions_of_Germany" class="mw-redirect" title="Administrative divisions of Germany">Administrative divisions</a> <ul><li><a href="/wiki/States_of_Germany" title="States of Germany">States</a></li> <li><a href="/wiki/Districts_of_Germany" title="Districts of Germany">Districts</a></li></ul></li> <li><a href="/wiki/List_of_cities_and_towns_in_Germany" title="List of cities and towns in Germany">Cities and towns</a></li> <li><a href="/wiki/List_of_earthquakes_in_Germany" title="List of earthquakes in Germany">Earthquakes</a></li> <li><a href="/wiki/Geology_of_Germany" title="Geology of Germany">Geology</a></li> <li><a href="/wiki/List_of_islands_of_Germany" title="List of islands of Germany">Islands</a></li> <li><a href="/wiki/List_of_lakes_of_Germany" title="List of lakes of Germany">Lakes</a></li> <li><a href="/wiki/Category:Mountains_of_Germany" title="Category:Mountains of Germany">Mountains</a></li> <li><a href="/wiki/Category:Rivers_of_Germany" title="Category:Rivers of Germany">Rivers</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Politics_of_Germany" title="Politics of Germany">Politics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bundestag" title="Bundestag">Bundestag</a></li> <li><a href="/wiki/German_Bundesrat" title="German Bundesrat">Bundesrat</a></li> <li><a href="/wiki/Bundeswehr" title="Bundeswehr"><i>Bundeswehr</i> <span style="font-size:85%;">(military)</span></a></li> <li><a href="/wiki/Cabinet_of_Germany" title="Cabinet of Germany">Cabinet</a></li> <li><a href="/wiki/Chancellor_of_Germany" title="Chancellor of Germany">Chancellor</a></li> <li><a href="/wiki/Basic_Law_for_the_Federal_Republic_of_Germany" title="Basic Law for the Federal Republic of Germany">Constitution</a></li> <li><a href="/wiki/Judiciary_of_Germany" title="Judiciary of Germany">Court system</a></li> <li><a href="/wiki/Elections_in_Germany" title="Elections in Germany">Elections</a></li> <li><a href="/wiki/Foreign_relations_of_Germany" title="Foreign relations of Germany">Foreign relations</a></li> <li><a href="/wiki/Human_rights_in_Germany" title="Human rights in Germany">Human rights</a> <ul><li><a href="/wiki/Intersex_rights_in_Germany" title="Intersex rights in Germany">Intersex</a></li> <li><a href="/wiki/LGBT_rights_in_Germany" class="mw-redirect" title="LGBT rights in Germany">LGBT</a></li> <li><a href="/wiki/Transgender_rights_in_Germany" title="Transgender rights in Germany">Transgender</a></li></ul></li> <li><a href="/wiki/Law_of_Germany" title="Law of Germany">Law</a></li> <li><a href="/wiki/Law_enforcement_in_Germany" title="Law enforcement in Germany">Law enforcement</a></li> <li><a href="/wiki/Lobbying_in_Germany" title="Lobbying in Germany">Lobbying</a></li> <li><a href="/wiki/Conservatism_in_Germany" title="Conservatism in Germany">Conservatism</a></li> <li><a href="/wiki/German_nationalism" title="German nationalism">Nationalism</a></li> <li><a href="/wiki/List_of_political_parties_in_Germany" title="List of political parties in Germany">Political parties</a></li> <li><a href="/wiki/President_of_Germany" title="President of Germany">President</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economy_of_Germany" title="Economy of Germany">Economy</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agriculture_in_Germany" title="Agriculture in Germany">Agriculture</a></li> <li><a href="/wiki/Automotive_industry_in_Germany" title="Automotive industry in Germany">Automobile industry</a></li> <li><a href="/wiki/Banking_in_Germany" title="Banking in Germany">Banking</a> <ul><li><a class="mw-selflink selflink">Central bank</a></li></ul></li> <li><a href="/wiki/Middle_German_Chemical_Triangle" title="Middle German Chemical Triangle">Chemical Triangle</a></li> <li><a href="/wiki/Economic_history_of_Germany" title="Economic history of Germany">Economic history</a></li> <li><a href="/wiki/Energy_in_Germany" title="Energy in Germany">Energy</a></li> <li><a href="/wiki/List_of_exports_of_Germany" title="List of exports of Germany">Exports</a></li> <li><a href="/wiki/German_model" title="German model">German model</a></li> <li><a href="/wiki/List_of_German_states_by_GDP" class="mw-redirect" title="List of German states by GDP">German states by GDP</a></li> <li><a href="/wiki/Mittelstand" title="Mittelstand"><i>Mittelstand</i> companies</a></li> <li><a href="/wiki/Science_and_technology_in_Germany" title="Science and technology in Germany">Science and technology</a></li> <li><a href="/wiki/Frankfurt_Stock_Exchange" title="Frankfurt Stock Exchange">Stock exchange</a></li> <li><a href="/wiki/Taxation_in_Germany" title="Taxation in Germany">Taxation</a></li> <li><a href="/wiki/Telecommunications_in_Germany" title="Telecommunications in Germany">Telecommunications</a></li> <li><a href="/wiki/Tourism_in_Germany" title="Tourism in Germany">Tourism</a></li> <li><a href="/wiki/Trade_unions_in_Germany" title="Trade unions in Germany">Trade unions</a></li> <li><a href="/wiki/Transport_in_Germany" title="Transport in Germany">Transport</a></li> <li><a href="/wiki/Welfare_in_Germany" class="mw-redirect" title="Welfare in Germany">Welfare</a></li> <li><a href="/wiki/Women_in_Germany" title="Women in Germany">Women</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:Society_of_Germany" title="Category:Society of Germany">Society</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Crime_in_Germany" title="Crime in Germany">Crime</a></li> <li><a href="/wiki/Corruption_in_Germany" title="Corruption in Germany">Corruption</a></li> <li><a href="/wiki/Demographics_of_Germany" title="Demographics of Germany">Demographics</a></li> <li><a href="/wiki/Drug_policy_of_Germany" title="Drug policy of Germany">Drug policy</a></li> <li><a href="/wiki/Education_in_Germany" title="Education in Germany">Education</a></li> <li><a href="/wiki/Germans" title="Germans">Germans</a> <ul><li><a href="/wiki/Category:Ethnic_groups_in_Germany" title="Category:Ethnic groups in Germany">Ethnic groups</a></li> <li><a href="/wiki/Women_in_Germany" title="Women in Germany">Women</a></li></ul></li> <li><a href="/wiki/Healthcare_in_Germany" title="Healthcare in Germany">Healthcare</a></li> <li><a href="/wiki/Homelessness_in_Germany" title="Homelessness in Germany">Homelessness</a></li> <li><a href="/wiki/Immigration_to_Germany" title="Immigration to Germany">Immigration</a></li> <li><a href="/wiki/Irreligion_in_Germany" title="Irreligion in Germany">Irreligion</a></li> <li><a href="/wiki/List_of_German_states_by_life_expectancy" title="List of German states by life expectancy">Life expectancy</a></li> <li><a href="/wiki/Naturism_in_Germany" title="Naturism in Germany">Naturism</a></li> <li><a href="/wiki/Pensions_in_Germany" title="Pensions in Germany">Pensions</a></li> <li><a href="/wiki/Pornography_in_Germany" title="Pornography in Germany">Pornography</a></li> <li><a href="/wiki/Poverty_in_Germany" title="Poverty in Germany">Poverty</a></li> <li><a href="/wiki/Prostitution_in_Germany" title="Prostitution in Germany">Prostitution</a></li> <li><a href="/wiki/Racism_in_Germany" title="Racism in Germany">Racism</a></li> <li><a href="/wiki/Religion_in_Germany" title="Religion in Germany">Religion</a></li> <li><a href="/wiki/Social_issues_in_Germany" class="mw-redirect" title="Social issues in Germany">Social issues</a></li> <li><a href="/wiki/Trade_unions_in_Germany" title="Trade unions in Germany">Trade unions</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Culture_of_Germany" title="Culture of Germany">Culture</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Deutschlandlied" title="Deutschlandlied">Anthem</a></li> <li><a href="/wiki/Architecture_of_Germany" title="Architecture of Germany">Architecture</a></li> <li><a href="/wiki/German_art" title="German art">Art</a></li> <li><a href="/wiki/Category:Arts_in_Germany" title="Category:Arts in Germany">Arts</a></li> <li><a href="/wiki/Cinema_of_Germany" title="Cinema of Germany">Cinema</a></li> <li><a href="/wiki/Coat_of_arms_of_Germany" title="Coat of arms of Germany">Coat of arms</a></li> <li><a href="/wiki/German_cuisine" title="German cuisine">Cuisine</a></li> <li>Cultural icons</li> <li><a href="/wiki/Category:Dance_in_Germany" title="Category:Dance in Germany">Dance</a></li> <li><a href="/wiki/German_fashion" title="German fashion">Fashion</a></li> <li><a href="/wiki/Category:Festivals_in_Germany" title="Category:Festivals in Germany">Festivals</a></li> <li><a href="/wiki/German_folklore" title="German folklore">Folklore</a></li> <li><a href="/wiki/Flag_of_Germany" title="Flag of Germany">Flag</a></li> <li><a href="/wiki/German_language" title="German language">Language</a></li> <li><a href="/wiki/List_of_libraries_in_Germany" title="List of libraries in Germany">Libraries</a></li> <li><a href="/wiki/German_literature" title="German literature">Literature</a></li> <li><a href="/wiki/Internet_in_Germany" title="Internet in Germany">Internet</a></li> <li><a href="/wiki/Media_of_Germany" class="mw-redirect" title="Media of Germany">Media</a></li> <li><a href="/wiki/Music_of_Germany" title="Music of Germany">Music</a></li> <li><a href="/wiki/Names_of_Germany" title="Names of Germany">Names</a></li> <li><a href="/wiki/German_philosophy" title="German philosophy">Philosophy</a></li> <li><a href="/wiki/Prussian_virtues" title="Prussian virtues">Prussian virtues</a></li> <li><a href="/wiki/Sport_in_Germany" title="Sport in Germany">Sport</a></li> <li><a href="/wiki/Television_in_Germany" title="Television in Germany">Television</a></li> <li><a href="/wiki/List_of_World_Heritage_Sites_in_Germany" title="List of World Heritage Sites in Germany">World Heritage Sites</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div><div style="margin-bottom:-0.4em;"><ul><li><span class="nobold"><a href="/wiki/Outline_of_Germany" title="Outline of Germany">Outline</a></span></li><li><span class="nobold"><a href="/wiki/Outline_of_Germany" title="Outline of Germany">Index</a></span></li><li><span class="nobold"><a href="/wiki/Bibliography_of_Germany" title="Bibliography of Germany">Bibliography</a></span></li></ul></div> <ul><li><a href="/wiki/Category:Germany" title="Category:Germany">Category</a></li> <li><a href="/wiki/Portal:Germany" title="Portal:Germany">Portal</a></li></ul></div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" 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//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/45px-Flag_of_Europe.svg.png 2x" data-file-width="810" data-file-height="540" /></a></span></span></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Within <a href="/wiki/Eurozone" title="Eurozone">Eurozone</a><br /><small>(Members of the <a href="/wiki/Eurosystem" title="Eurosystem">Eurosystem</a>)</small></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/National_Bank_of_Belgium" title="National Bank of Belgium">National Bank of Belgium</a></li> <li><a href="/wiki/Croatian_National_Bank" title="Croatian National Bank">Croatian National Bank</a></li> <li><a href="/wiki/Central_Bank_of_Cyprus" title="Central Bank of Cyprus">Central Bank of Cyprus</a></li> <li><a class="mw-selflink selflink">Deutsche Bundesbank</a></li> <li><a href="/wiki/Bank_of_Estonia" title="Bank of Estonia">Bank of Estonia</a></li> <li><a href="/wiki/Bank_of_Finland" title="Bank of Finland">Bank of Finland</a></li> <li><a href="/wiki/Banque_de_France" class="mw-redirect" title="Banque de France">Banque de France</a></li> <li><a href="/wiki/Bank_of_Greece" title="Bank of Greece">Bank of Greece</a></li> <li><a href="/wiki/Central_Bank_of_Ireland" title="Central Bank of Ireland">Central Bank of Ireland</a></li> <li><a href="/wiki/Bank_of_Italy" title="Bank of Italy">Bank of Italy</a></li> <li><a href="/wiki/Bank_of_Latvia" title="Bank of Latvia">Bank of Latvia</a></li> <li><a href="/wiki/Bank_of_Lithuania" title="Bank of Lithuania">Bank of Lithuania</a></li> <li><a href="/wiki/Central_Bank_of_Luxembourg" title="Central Bank of Luxembourg">Central Bank of Luxembourg</a></li> <li><a href="/wiki/Central_Bank_of_Malta" title="Central Bank of Malta">Central Bank of Malta</a></li> <li><a href="/wiki/De_Nederlandsche_Bank" title="De Nederlandsche Bank">De Nederlandsche Bank</a></li> <li><a href="/wiki/Oesterreichische_Nationalbank" title="Oesterreichische Nationalbank">Oesterreichische Nationalbank</a></li> <li><a href="/wiki/Banco_de_Portugal" title="Banco de Portugal">Banco de Portugal</a></li> <li><a href="/wiki/National_Bank_of_Slovakia" title="National Bank of Slovakia">National Bank of Slovakia</a></li> <li><a href="/wiki/Bank_of_Slovenia" title="Bank of Slovenia">Bank of Slovenia</a></li> <li><a href="/wiki/Bank_of_Spain" title="Bank of Spain">Bank of Spain</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Outside Eurozone</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bulgarian_National_Bank" title="Bulgarian National Bank">Bulgarian National Bank</a></li> <li><a href="/wiki/Czech_National_Bank" title="Czech National Bank">Czech National Bank</a></li> <li><a href="/wiki/Danmarks_Nationalbank" title="Danmarks Nationalbank">Danmarks Nationalbank</a></li> <li><a href="/wiki/Hungarian_National_Bank" title="Hungarian National Bank">Hungarian National Bank</a></li> <li><a href="/wiki/National_Bank_of_Poland" title="National Bank of Poland">National Bank of Poland</a></li> <li><a href="/wiki/National_Bank_of_Romania" title="National Bank of Romania">National Bank of Romania</a></li> <li><a href="/wiki/Sveriges_Riksbank" title="Sveriges Riksbank">Sveriges Riksbank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Banking-related<br /><a href="/wiki/Institutions_of_the_European_Union" title="Institutions of the European Union">EU institutions</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/European_Central_Bank" title="European Central Bank">European Central Bank</a></li> <li><a href="/wiki/European_System_of_Central_Banks" title="European System of Central Banks">European System of Central Banks</a></li> <li><a href="/wiki/European_Investment_Bank" title="European Investment Bank">European Investment Bank</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Template"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/83/Symbol_template_class_pink.svg/16px-Symbol_template_class_pink.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/83/Symbol_template_class_pink.svg/23px-Symbol_template_class_pink.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/83/Symbol_template_class_pink.svg/31px-Symbol_template_class_pink.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Template:Central_banks" title="Template:Central banks">Central banks</a></li> <li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a></span> <a href="/wiki/Portal:European_Union" title="Portal:European Union">European Union</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="23x15px&#124;border_&#124;alt=Europe&#124;link=Europe_Members_of_the_Euro_Banking_Association" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Members_of_Euro_Banking_Association" title="Template:Members of Euro Banking Association"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Members_of_Euro_Banking_Association" title="Template talk:Members of Euro Banking Association"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Members_of_Euro_Banking_Association" title="Special:EditPage/Template:Members of Euro Banking Association"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="23x15px&#124;border_&#124;alt=Europe&#124;link=Europe_Members_of_the_Euro_Banking_Association" style="font-size:114%;margin:0 4em"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><a href="/wiki/Europe" title="Europe"><img alt="Europe" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/23px-Flag_of_Europe.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/35px-Flag_of_Europe.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Flag_of_Europe.svg/45px-Flag_of_Europe.svg.png 2x" data-file-width="810" data-file-height="540" /></a></span></span> Members of the <a href="/wiki/Euro_Banking_Association" title="Euro Banking Association">Euro Banking Association</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Austria</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bank_f%C3%BCr_Tirol_und_Vorarlberg" title="Bank für Tirol und Vorarlberg">Bank für Tirol und Vorarlberg</a></li> <li><a href="/w/index.php?title=BKS_Bank&action=edit&redlink=1" class="new" title="BKS Bank (page does not exist)">BKS Bank</a></li> <li><a href="/wiki/Erste_Group_Bank" class="mw-redirect" title="Erste Group Bank">Erste Group Bank</a></li> <li><a href="/wiki/Oberbank" title="Oberbank">Oberbank</a></li> <li><a href="/wiki/Oesterreichische_Nationalbank" title="Oesterreichische Nationalbank">Oesterreichische Nationalbank</a></li> <li><a href="/wiki/Raiffeisen_Bank_International" title="Raiffeisen Bank International">Raiffeisen Bank International</a></li> <li><a href="/wiki/Raiffeisenlandesbank_Ober%C3%B6sterreich" title="Raiffeisenlandesbank Oberösterreich">Raiffeisenlandesbank Oberösterreich</a></li> <li><a href="/wiki/UniCredit_Bank_Austria" class="mw-redirect" title="UniCredit Bank Austria">UniCredit Bank Austria</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Belgium</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Belfius" title="Belfius">Belfius</a></li> <li><a href="/wiki/BNP_Paribas_Fortis" title="BNP Paribas Fortis">BNP Paribas Fortis</a></li> <li><a href="/w/index.php?title=Bpost_bank&action=edit&redlink=1" class="new" title="Bpost bank (page does not exist)">bpost bank</a></li> <li><a href="/wiki/KBC_Bank" class="mw-redirect" title="KBC Bank">KBC Bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Cyprus</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bank_of_Cyprus" title="Bank of Cyprus">Bank of Cyprus</a></li> <li><a href="/wiki/Hellenic_Bank" title="Hellenic Bank">Hellenic Bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Denmark</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Danske_Bank" title="Danske Bank">Danske Bank</a></li> <li><a href="/wiki/Spar_Nord" title="Spar Nord">Spar Nord Bank</a></li> <li><a href="/wiki/Sparekassen_Sj%C3%A6lland" title="Sparekassen Sjælland">Sparekassen Sjælland</a></li> <li><a href="/wiki/Sydbank" title="Sydbank">Sydbank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Finland</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aktia_Bank" title="Aktia Bank">Aktia Bank</a></li> <li><a href="/wiki/Bank_of_%C3%85land" title="Bank of Åland">Bank of Åland</a></li> <li><a href="/wiki/DNB_ASA" title="DNB ASA">DnB Bank</a></li> <li><a href="/wiki/Nordea" title="Nordea">Nordea Bank</a></li> <li><a href="/wiki/Pohjola_Bank" class="mw-redirect" title="Pohjola Bank">Pohjola Bank</a></li> <li><a href="/wiki/S-Bank" title="S-Bank">S-Bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">France</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/BNP_Paribas" title="BNP Paribas">BNP Paribas</a></li> <li><a href="/wiki/Groupe_BPCE" title="Groupe BPCE">BPCE</a></li> <li><a href="/wiki/BRED_Banque_Populaire" class="mw-redirect" title="BRED Banque Populaire">BRED Banque Populaire</a></li> <li><a href="/wiki/Cr%C3%A9dit_Agricole" title="Crédit Agricole">Crédit Agricole</a></li> <li><a href="/wiki/Cr%C3%A9dit_Mutuel_Ark%C3%A9a" class="mw-redirect" title="Crédit Mutuel Arkéa">Crédit Mutuel Arkéa</a></li> <li><a href="/w/index.php?title=My_Money_Bank&action=edit&redlink=1" class="new" title="My Money Bank (page does not exist)">My Money Bank</a></li> <li><a href="/wiki/La_Banque_postale" title="La Banque postale">La Banque postale</a></li> <li><a href="/wiki/Soci%C3%A9t%C3%A9_G%C3%A9n%C3%A9rale" title="Société Générale">Société Générale</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Germany</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bank_of_America" title="Bank of America">Bank of America Europe</a> (USA)</li> <li><a href="/wiki/Bank_of_China" title="Bank of China">Bank of China</a> (CHN)</li> <li><a href="/wiki/Berenberg_Bank" title="Berenberg Bank">Berenberg Bank</a></li> <li><a href="/wiki/Commerzbank" title="Commerzbank">Commerzbank</a></li> <li><a href="/wiki/Deutsche_Bank" title="Deutsche Bank">Deutsche Bank</a></li> <li><a class="mw-selflink selflink">Deutsche Bundesbank</a></li> <li><a href="/wiki/DZ_Bank" title="DZ Bank">DZ Bank</a></li> <li><a href="/wiki/Landesbank_Baden-W%C3%BCrttemberg" title="Landesbank Baden-Württemberg">Landesbank Baden-Württemberg</a></li> <li><a href="/wiki/Helaba" title="Helaba">Landesbank Hessen-Thüringen</a></li> <li><a href="/wiki/SIX_Group" title="SIX Group">SECB Swiss Euro Clearing Bank</a></li> <li><a href="/wiki/Standard_Chartered" title="Standard Chartered">Standard Chartered</a></li> <li><a href="/wiki/UBS" title="UBS">UBS Europe</a></li> <li><a href="/wiki/Unicredit" class="mw-redirect" title="Unicredit">Unicredit</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Greece</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Alpha_Bank" title="Alpha Bank">Alpha Bank</a></li> <li><a href="/wiki/Eurobank_Ergasias" title="Eurobank Ergasias">Eurobank Ergasias</a></li> <li><a href="/wiki/National_Bank_of_Greece" title="National Bank of Greece">National Bank of Greece</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Hungary</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/OTP_Bank" title="OTP Bank">OTP Bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Ireland</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Allied_Irish_Banks" title="Allied Irish Banks">Allied Irish Banks</a></li> <li><a href="/wiki/Bank_of_Ireland" title="Bank of Ireland">Bank of Ireland</a></li> <li><a href="/wiki/Elavon" title="Elavon">Elavon</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Italy</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/w/index.php?title=Banca_del_Fucino&action=edit&redlink=1" class="new" title="Banca del Fucino (page does not exist)">Banca del Fucino</a></li> <li><a href="/wiki/Banca_Monte_dei_Paschi_di_Siena" title="Banca Monte dei Paschi di Siena">Banca Monte dei Paschi di Siena</a></li> <li><a href="/wiki/Banca_Popolare_del_Lazio" title="Banca Popolare del Lazio">Banca Popolare del Lazio</a></li> <li><a href="/wiki/Banca_Popolare_di_Sondrio" title="Banca Popolare di Sondrio">Banca Popolare di Sondrio</a></li> <li><a href="/wiki/Banca_Sella" class="mw-redirect" title="Banca Sella">Banca Sella</a></li> <li><a href="/wiki/Banco_BPM" title="Banco BPM">Banco BPM</a></li> <li><a href="/w/index.php?title=BFF_Bank&action=edit&redlink=1" class="new" title="BFF Bank (page does not exist)">BFF Bank</a></li> <li><a href="/wiki/BPER_Banca" title="BPER Banca">BPER Banca</a></li> <li><a href="/wiki/Cassa_di_Risparmio_di_Fermo" title="Cassa di Risparmio di Fermo">Cassa di Risparmio di Fermo</a></li> <li><a href="/wiki/Credito_Emiliano" title="Credito Emiliano">Credito Emiliano</a></li> <li><a href="/wiki/ICCREA_Banca" title="ICCREA Banca">ICCREA Banca</a></li> <li><a href="/wiki/Intesa_Sanpaolo" title="Intesa Sanpaolo">Intesa Sanpaolo</a></li> <li><a href="/wiki/Raiffeisen_Landesbank_S%C3%BCdtirol_%E2%80%93_Cassa_Centrale_Raiffeisen_dell%27Alto_Adige" title="Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige">Raiffeisen Landesbank Südtirol</a></li> <li><a href="/wiki/UniCredit" title="UniCredit">UniCredit</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Luxembourg</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banque_et_Caisse_d%27%C3%89pargne_de_l%27%C3%89tat" title="Banque et Caisse d'Épargne de l'État">Spuerkeess</a></li> <li><a href="/wiki/Banque_Internationale_%C3%A0_Luxembourg" title="Banque Internationale à Luxembourg">Banque Internationale à Luxembourg</a></li> <li><a href="/wiki/Gazprombank" title="Gazprombank">Gazprombank Luxembourg</a> (RUS)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Netherlands</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/ABN_AMRO" title="ABN AMRO">ABN AMRO</a></li> <li><a href="/wiki/De_Nederlandsche_Bank" title="De Nederlandsche Bank">De Nederlandsche Bank</a></li> <li><a href="/wiki/ING_Bank" class="mw-redirect" title="ING Bank">ING Bank</a></li> <li><a href="/wiki/Rabobank" title="Rabobank">Rabobank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Portugal</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banco_Angolano_de_Investimentos" title="Banco Angolano de Investimentos">Banco BAI Europa</a> (AGO)</li> <li><a href="/wiki/Banco_Comercial_Portugu%C3%AAs" title="Banco Comercial Português">Banco BCP</a></li> <li><a href="/wiki/Banco_Montepio" title="Banco Montepio">Banco Montepio</a></li> <li><a href="/w/index.php?title=Caixa_Central_de_Cr%C3%A9dito_Agr%C3%ADcola_M%C3%BAtuo&action=edit&redlink=1" class="new" title="Caixa Central de Crédito Agrícola Mútuo (page does not exist)">Crédito Agrícola</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Slovenia</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bank_of_Slovenia" title="Bank of Slovenia">Bank of Slovenia</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Spain</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abanca" title="Abanca">Abanca</a></li> <li><a href="/wiki/Banco_Bilbao_Vizcaya_Argentaria" title="Banco Bilbao Vizcaya Argentaria">BBVA</a></li> <li><a href="/w/index.php?title=Banco_Cooperativo_Espa%C3%B1ol&action=edit&redlink=1" class="new" title="Banco Cooperativo Español (page does not exist)">Banco Cooperativo Español</a></li> <li><a href="/wiki/Banco_Sabadell" title="Banco Sabadell">Banco Sabadell</a></li> <li><a href="/wiki/Banco_Santander" title="Banco Santander">Banco Santander</a></li> <li><a href="/wiki/Bankinter" title="Bankinter">Bankinter</a></li> <li><a href="/wiki/CaixaBank" title="CaixaBank">CaixaBank</a></li> <li><a href="/wiki/Spanish_Confederation_of_Savings_Banks" title="Spanish Confederation of Savings Banks">Cecabank</a></li> <li><a href="/wiki/Ibercaja_Banco" title="Ibercaja Banco">Ibercaja Banco</a></li> <li><a href="/wiki/Kutxabank" title="Kutxabank">Kutxabank</a></li> <li><a href="/wiki/Unicaja" title="Unicaja">Unicaja Banco</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sweden</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Handelsbanken" title="Handelsbanken">Handelsbanken</a></li> <li><a href="/wiki/SEB_Group" title="SEB Group">SEB</a></li> <li><a href="/wiki/Swedbank" title="Swedbank">Swedbank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">United<br />Kingdom</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Barclays" title="Barclays">Barclays</a></li> <li><a href="/wiki/Citibank_Europe" title="Citibank Europe">Citibank Europe</a> (USA)</li> <li><a href="/wiki/HSBC_Bank_(Europe)" class="mw-redirect" title="HSBC Bank (Europe)">HSBC Bank</a></li> <li><a href="/wiki/JPMorgan_Chase" title="JPMorgan Chase">JPMorgan Chase Bank, London Branch</a> (USA)</li> <li><a href="/wiki/Lloyds_Bank" title="Lloyds Bank">Lloyds Bank</a></li> <li><a href="/wiki/MUFG_Bank" title="MUFG Bank">MUFG Bank</a> (JPN)</li> <li><a href="/wiki/NatWest" title="NatWest">NatWest</a></li> <li><a href="/wiki/Wells_Fargo" title="Wells Fargo">Wells Fargo</a> (USA)</li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Central_banks" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Central_banks" title="Template:Central banks"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Central_banks" title="Template talk:Central banks"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Central_banks" title="Special:EditPage/Template:Central banks"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Central_banks" style="font-size:114%;margin:0 4em"><a href="/wiki/Central_bank" title="Central bank">Central banks</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Global</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bank_for_International_Settlements" title="Bank for International Settlements">Bank for International Settlements</a></li> <li><a href="/wiki/Basel_Committee_on_Banking_Supervision" title="Basel Committee on Banking Supervision">Basel Committee on Banking Supervision</a></li> <li><a href="/wiki/Financial_Stability_Board" title="Financial Stability Board">Financial Stability Board</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Policies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Capital_requirement" title="Capital requirement">Capital requirement</a></li> <li><a href="/wiki/Contractionary_monetary_policy" class="mw-redirect" title="Contractionary monetary policy">Contractionary monetary policy</a></li> <li><a href="/wiki/Expansionary_monetary_policy" class="mw-redirect" title="Expansionary monetary policy">Expansionary monetary policy</a></li> <li><a href="/wiki/Basel_Accords" title="Basel Accords">Basel Accords</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Implementation</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Capital_control" title="Capital control">Capital control</a></li> <li><a href="/wiki/Discount_window" title="Discount window">Discount rate</a></li> <li><a href="/wiki/Interest_rate" title="Interest rate">Interest rates</a></li> <li><a href="/wiki/Money_creation" title="Money creation">Money creation</a></li> <li><a href="/wiki/Open_market_operation" title="Open market operation">Open market operation</a></li> <li><a href="/wiki/Sovereign_wealth_fund" title="Sovereign wealth fund">Sovereign wealth fund</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Bretton_Woods_system" title="Bretton Woods system">Bretton Woods<br />system</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a></li> <li><a href="/wiki/World_Bank_Group" title="World Bank Group">World Bank Group</a> <ul><li><a href="/wiki/International_Bank_for_Reconstruction_and_Development" title="International Bank for Reconstruction and Development">International Bank for Reconstruction and Development</a></li> <li><a href="/wiki/International_Centre_for_Settlement_of_Investment_Disputes" title="International Centre for Settlement of Investment Disputes">International Centre for Settlement of Investment Disputes</a></li> <li><a href="/wiki/International_Development_Association" title="International Development Association">International Development Association</a></li> <li><a href="/wiki/International_Finance_Corporation" title="International Finance Corporation">International Finance Corporation</a></li> <li><a href="/wiki/Multilateral_Investment_Guarantee_Agency" title="Multilateral Investment Guarantee Agency">Multilateral Investment Guarantee Agency</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Lists</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_central_banks" title="List of central banks">List of central banks</a></li> <li><a href="/wiki/Central_banks_and_currencies_of_Africa" class="mw-redirect" title="Central banks and currencies of Africa">Central banks and currencies of Africa</a></li> <li><a href="/wiki/Central_banks_and_currencies_of_Asia-Pacific" title="Central banks and currencies of Asia-Pacific">Central banks and currencies of Asia-Pacific</a></li> <li><a href="/wiki/Central_banks_and_currencies_of_the_Caribbean" title="Central banks and currencies of the Caribbean">Central banks and currencies of the Caribbean</a></li> <li><a href="/wiki/Central_banks_and_currencies_of_Europe" title="Central banks and currencies of Europe">Central banks and currencies of Europe</a></li> <li><a href="/wiki/Central_banks_and_currencies_of_the_Americas" title="Central banks and currencies of the Americas">Central banks and currencies of the Americas</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r1038841319">.mw-parser-output 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href="https://isni.org/isni/0000000405557801">ISNI</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://viaf.org/viaf/156744453">VIAF</a></span></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">National</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://d-nb.info/gnd/1002465-7">Germany</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://id.loc.gov/authorities/n50005101">United States</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb11995309v">France</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb11995309v">BnF data</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" 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