In the first half of the year, the coronavirus pandemic led to the most severe economic crisis in decades. The German financial system has, however, proven to be stable during the pandemic, and so far fulfilled its key functions, said Claudia Buch, Vice-President of the Deutsche Bundesbank, at the presentation of the 2020 Financial Stability Review. Ms Buch added that, in the further course of the pandemic, corporate insolvencies are likely to increase, and this requires sufficient preparation.

Viele Deutsche verfügen über größere Bargeldvorräte. Das hat einen guten Grund.

Germany’s current account recorded a surplus of €16.5 billion in August 2020, down €4.6 billion from the previous month’s level.