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Photo shows European Parliament in Strasbourg © European Union 2014 - European Parliament

European Parliament adopts Single Resolution Mechanism for banks

After a long debate with the European Council and the European Commission, the European Parliament on 15 April 2014 adopted the Single Resolution Mechanism (SRM) for banks, under which key competencies and resources are to be centralised in the event of the failure of a bank in the euro area or in other member states participating in the banking union. The SRM complements the Single Supervisory Mechanism (SSM), thus achieving a balance of liability and control.

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Dr Joachim Nagel

"We are expecting robust economic growth"

Bundesbank Executive Board member Joachim Nagel expects monetary policy in the United States and Europe to return to normal soon. In an interview with VDI Nachrichten, Mr Nagel discussed the impact of the low-interest-rate environment, pos-itive cyclical effects and government intervention in the markets.

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Spring meeting of the International Monetary Fund

Sluggish reform of IMF quota and voting shares encounters criticism

At this year's spring meeting of the International Monetary Fund (IMF), Bundesbank President Jens Weidmann emphasised the need for the prompt implementation of the quota and governance reforms that were agreed by the IMF Board of Governors during the 14th General Review of Quotas in 2010. The reforms include doubling the IMF's quotas and shifting voting power in favour of emerging market and developing countries.

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Dr Andreas Dombret

Dombret: "Recovery in the securitisation market is overdue"

“Credit securitisations fell into considerable disrepute during the financial crisis. However, they can (…) – when properly designed – play a crucial role in stimulating lending to small and medium-sized enterprises in particular,” said Bundesbank Executive Board Member Andreas Dombret in an interview with the German daily Die Welt. He added that the decisive question was how to make securitisations attractive for investors without harming financial stability.

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 Dr. Jens Weidmann

"Overburdening monetary policy is anathema"

The European Treaty needs to be changed to avoid potential conflicts of interest between the ECB's mandate to safeguard price stability and its role in banking supervision: "Overburdening monetary policy is of course anathema to the Bundesbank," Bundesbank President Jens Weidmann said in a speech at the Duitsland Instituut in Amsterdam. He supported the suggestion of Klaas Knot, President of De Nederlandsche Bank, to eventually separate the SSM from the ECB and to an institution of its own.

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Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank

Financial stability needs both a seatbelt and an airbag

It is generally accepted that banks need more capital. But there is disagreement on how best to calculate the right amount of capital. Two approaches are on the table – the traditional method of risk-weighting exposures, and the introduction of a new debt ceiling, known as the leverage ratio. In a guest article for the Handelsblatt, Executive Board member Andreas Dombret welcomes the inclusion of both approaches in the new Basel III regime: "After all, car drivers don't just rely on their seatbelt but also enjoy the added protection afforded by their airbag."

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Bundesbankpräsident Jens Weidmann spricht im Interview mit CNBC

Weidmann: "Europe needs to stay on course"

Bundesbank President Jens Weidmann says the risk of a deflationary spiral in the euro area is very low. In an interview with journalist Annette Weisbach from the CNBC he talks about the possibility of unconventional measures of the ECB, painful processes of adaption in Europe and Greece´s comeback on the financial markets.

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Foto zeigt eine Hand, die auf ein Liniendiagramm zeigt

German Maastricht debt level back below 80% of GDP for the first time since 2009

Last year, general government debt in Germany was back below 80% of gross domestic product (GDP) for the first time since 2009. General government debt as defined in the Maastricht Treaty fell by €14 billion to €2.15 trillion at the end of 2013. Thus, the level of debt in relation to GDP decreased from 81.0% in 2012 to 78.4%. Since the debt and financial market crisis began, support measures in favour of domestic financial institutions and for euro-area countries had driven up the German debt level. The decline in debt which has now been recorded was attributable, above all, to a reduction in risk assets at bad banks.

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Jens Weidmann at the 20th German Banking Congress @ Bankenverband - Bundesverband deutscher Banken

"Not all points on the regulatory agenda have been put into practice"

Speaking at the 20th German Banking Congress in Berlin, Bundesbank President Jens Weidmann reminded banks of their responsibility for a more stable financial system. He believes that institutions must continue to clean up their balance sheets and reduce their risk positions. Contrary to the opinion of the banking associations, Mr Weidmann stressed that "there can be no question of overregulation of banks."

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Photo shows 100 Yuan

Frankfurt to be a clearing venue for renminbi payments

The Deutsche Bundesbank and the People's Bank of China have signed a memorandum of understanding regarding renminbi clearing and settlement in Frankfurt. This lays the foundations for national and cross-border clearing and settlement of payments in the Chinese renminbi. Responsibility for clearing renminbi payments will lie with a clearing bank as yet to be specified by the Chinese central bank.

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Technical Central Bank Cooperation

International Central Banking Courses 2014

The Centre for Technical Central Bank Cooperation will be offering a range of international central banking courses in 2014 as well. Please use the online application to apply. An overview of these courses you can find here.

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Jens Weidmann on the annual account 2013

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