Prior to the global financial crisis starting in 2007, the Eurosystem’s operational framework for implementing monetary policy used to be a corridor system. This involved the ECB Governing Council setting three interest rates, which usually had the same distance from each other. The rates of the deposit facility and the marginal lending facility formed the lower and upper bounds of the corridor, respectively. The relevant key interest rate on the main refinancing operations was the middle of the interest rate corridor. This system aimed to steer short-term money market rates close to the main refinancing operations rate.

Kultur im Fokus: Frankfurt ist nicht nur Finanz-, sondern auch Kulturmetropole. Das möchten wir in diesem Format unterstreichen und rücken neben klassischen Bundesbankthemen Musik, Poetry Slam und Co. in den Mittelpunkt. 

On the following page you will find charts on various topics from previous publications.

Ceremonies took place to formally mark two changes of office, each with around 50 guests. The new Bundesbank representatives are Thomas Notheis in Mumbai and Alexander Lieber in São Paulo.

All printed editions of the lectures are out of print. The richly illustrated volumes are available in numerous libraries.

on the topic of Payment statistics

Das Zertifikat ist mit dem Algorithmus SHA-256 von der Bundesbank Root CA 2015 II signiert und hat eine Gültigkeitsdauer von sechs Jahren.

The various locations of the Deutsche Bundesbank have different artistic focuses which contribute to the depth and variety of its art collection.