When the third stage of European monetary union (EMU) was initiated on 1 January 1999, monetary and foreign exchange policy was transferred to the European System of Central Banks (ESCB), which consists of the European Central Bank (ECB) and the national central banks of the participating member states.

This year’s “Banking supervision in dialogue” symposium centred around the competitiveness of Germany’s banking sector, the way forward for banking regulation, and the impact of technological and geopolitical trends. Hosted by Corinna Egerer and Philipp Otto, this industry event in Frankfurt am Main brought together around 800 representatives from the supervisory and banking communities.

Commercial property prices in Germany increased by 2.1 % on the year in the first quarter of 2026. This means the rise that had begun in mid-2024 continued almost unchanged.

Für die Portraitreihe „Unterwegs mit…“ des ZDF‑Morgenmagazins hat Reporter Cherno Jobatey Bundesbankpräsident Nagel beim Wocheneinkauf begleitet. Im Interview diskutierten sie darüber, warum Preise steigen, Bargeld weiterhin unverzichtbar bleibt und der digitale Euro Europas Souveränität stärken würde. Der Bundesbankpräsident verriet außerdem, was er gerne in seiner Freizeit macht. 

The war in Iran and the blockade of the Strait of Hormuz have shaken global energy markets and evoked memories of 2022, when Russia’s attack on Ukraine significantly exacerbated the energy crisis of 2021/22. In the current issue of the Monthly Report, Bundesbank experts examine both crises and show that while there are parallels there are also significant differences.

The branches of the Bundesbank supply the economy with euro banknotes and coins, and offers private customers the opportunity to exchange D-Mark banknotes and coins free-of-charge and with no fixed deadline.

Bundesbank’s external position stood at €933 billion at the end of April 2026, with claims from the TARGET2 payment system worth €1059 billion making up around 66 % of total assets. These are followed by international reserves, comprising gold and foreign exchange reserves, including the special drawing rights allocated by the International Monetary Fund (IMF), which account for a total of 26 % of assets. At 88 %, issuance of euro cash accounted for the bulk of liabilities. Deposits of non-euro area residents amount to 5 % of foreign liabilities.

The Bundesbank launched the first activity under the recently extended European System of Central Banks (ESCB) programme for African central banks, funded by the European Union (EU), with a training event on cash management in Frankfurt am Main.

Our new representatives provide a personal insight into their tasks at the Consulate General in Mumbai and at the OECD in Paris.

With new cooperation agreements, the Bundesbank is strengthening its relations with the central banks of Chile and Argentina. The formal partnerships are intended to promote dialogue and an exchange of ideas on topics relating to central banking, such as innovation and cash management, and to facilitate joint projects.

Rising oil prices, higher inflation and the rupee at a record low – India is hit hard by the consequences of the West Asia crisis. At the same time, consumption and investment are supporting high growth. An exclusive expert forum in Mumbai analyses developments.

During his visit to the House of the Euro in Brussels, Bundesbank President Nagel said in a keynote speech, „The digital euro has moved far beyond a technical concept – it is now a political project for more sovereignty”. These remarks came ahead of a panel discussion on the digital euro and its significance for Europe’s strategic autonomy.

Since 2006 the Deutsche Bundesbank's research centre has organised its spring conference, often jointly with other institutions like the Banque de France.

Negotiated wages in March 2026 noticeably higher.

Germany’s current account recorded a surplus of €23.6 billion in March 2026. This was €3.1 billion up on the previous month’s level. The goods account surplus decreased, but the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased more strongly.

Im März 2026 wies die Leistungsbilanz einen Überschuss von 15 Mrd € auf (nach 26 Mrd € im Vormonat).