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Bundesbank
The Deutsche Bundesbank (, , colloquially Buba, sometimes alternatively abbreviated as BBk or DBB) is the national central bank for Germany within the Eurosystem. It was the German central bank from 1957 to 1998, issuing the Deutsche Mark (DM). It succeeded the Bank deutscher Länder, which had introduced the DM on 20 June 1948. The Bundesbank was the first central bank 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. 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. As of 2023, its balance sheet total was €2.516 trillion, making it the 4th largest central bank in the world. History Backgrou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutschmark
The Deutsche Mark (; "German mark"), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later of unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" ( ). One Deutsche Mark was divided into 100 pfennigs. It was first issued under Allied occupation in 1948 to replace the Reichsmark and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other eurozon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Mark
The Deutsche Mark (; "German mark (currency), mark"), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later of unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" ( ). One Deutsche Mark was divided into 100 pfennigs. It was first issued under Bizone, Allied occupation in 1948 to replace the Reichsmark and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joachim Nagel
Joachim Nagel (born 31 May 1966) is a German economist who has been serving as President of the Bundesbank since 2022. Before he was a senior manager of the Bank for International Settlements since 2020, having been a member of the board of the Deutsche Bundesbank from 2010 to 2016 and then a member of the board of the KfW Bankengruppe from 2017 to 2020. He was appointed President of the Deutsche Bundesbank on 1 January 2022, to replace Jens Weidmann. He is a member of the Social Democratic Party of Germany (SPD), along with the President who appointed him to serve initially under SPD Chancellor Olaf Scholz. Early life and education After graduating from the Otto-Hahn-Gymnasium Karlsruhe, Nagel studied economics at the Karlsruhe Institute of Technology. Career After graduating in 1991, Nagel worked at the Karlsruhe Institute of Technology as a research assistant and later an advisor for economic and financial policy at the Social Democratic Party (SPD) in Bonn from March to Octo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frankfurt
Frankfurt am Main () is the most populous city in the States of Germany, German state of Hesse. Its 773,068 inhabitants as of 2022 make it the List of cities in Germany by population, fifth-most populous city in Germany. Located in the foreland of the Taunus on its namesake Main (river), Main, it forms a continuous conurbation with Offenbach am Main; Frankfurt Rhein-Main Regional Authority, its urban area has a population of over 2.7 million. The city is the heart of the larger Rhine-Main metropolitan region, which has a population of more than 5.8 million and is Germany's Metropolitan regions in Germany, second-largest metropolitan region after the Rhine-Ruhr metropolitan region, Rhine-Ruhr region and the List of EU metropolitan regions by GDP#2021 ranking of top four German metropolitan regions, fourth largest metropolitan region by GDP in the European Union (EU). Frankfurt is one of the ''de facto'' four main capitals of the European Union (alongside Brussels, Luxembourg Cit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks with a balance sheet total of around 7 trillion. The Governing Council of the European Central Bank, ECB Governing Council makes monetary policy for the Eurozone and the European Union, administers the foreign exchange reserves of EU member states, engages in foreign exchange operations, and defines the intermediate monetary objectives and key interest rate of the EU. The Executive Board of the European Central Bank, ECB Executive Board enforces the policies and decisions of the Governing Council, and may direct the national central banks when doing so. The ECB has the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the volume must be approved by the EC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Deutscher Länder
The Bank deutscher Länder (BdL, ) was a central bank established in 1948 to serve West Germany, issuing the Deutsche Mark. It was replaced in 1957 by the Deutsche Bundesbank. Background In the immediate aftermath of German defeat in 1945, the Reichsbank was placed under joint Allied custodianship pending its liquidation. In line with the Morgenthau Plan, the American authorities in November 1945 proposed a radically decentralized plan that would have organized a separate financial system in each of the , with minimal central coordination. After some hesitancy, the French authorities rallied that vision; the British authorities were initially reluctant, but gradually aligned with U.S. views following the establishment of the Bizone on . Thus, Land central banks () were created on in American-occupied Munich (for Bavaria), Stuttgart (for Württemberg-Baden), and Wiesbaden (for Hesse), followed in March by French-occupied Tübingen (for Württemberg-Hohenzollern), Freiburg im B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maastricht Treaty
The Treaty on European Union, commonly known as the Maastricht Treaty, is the foundation treaty of the European Union (EU). Concluded in 1992 between the then-twelve Member state of the European Union, member states of the European Communities, it announced "a new stage in the process of European integration" chiefly in provisions for a European Union citizenship, shared European citizenship, for the eventual introduction of Euro, a single currency, and (with less precision) for Common Foreign and Security Policy, common foreign and security policies, and a number of changes to the European institutions and their decision taking procedures, not least a strengthening of the powers of the European Parliament and more majority voting on the Council of the European Union, Council of Ministers. Although these were seen by many to presage a "Federalisation of the European Union, federal Europe", key areas remained inter-governmental with national governments collectively taking key dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Central Bank (Eurosystem)
The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The European Central Bank (ECB) has, under Article 16 of its Statute,Statute of the ECB (PDF) the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand. The Eurosystem consists of the ECB and the national central banks (NCB) of the 20 member states that are part of the eurozone. The national central banks apply the monetary policy of the ECB. The primary objective of the Eurosystem is price stability. Secondary objectives are financial stability and financial integration. The mission statement of the Eurosyste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash
In economics, cash is money in the physical form of currency, such as banknotes and coins. In book-keeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets. Etymology The English word ''cash'' originally meant , and later came to have a secondary meaning . This secondary usage became the sole meaning in the 18th century. The word ''cash'' comes from the Middle French , which comes from the Old Italian , and ultimately from the Latin . History In Western Europe, after the fall of the Western Roman Empire, coins, silver jewelry and hacksilver (silver objects hacked into pieces) were for centuries the only form of money, until Venetian merchants started using silver bars for larg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
