In der aktuellen Ausgabe informieren wir Sie unter anderem über den Start der Erprobungsphase für die Abwicklung DLT-basierter Transaktionen in Zentralbankgeld, den Wechsel an der Spitze der Abteilung Z 3 und geben ein Statusupdate zu ECMS. 

This article studies the impact of a digital euro on financial stability. Our survey findings indicate that German households are open to the digital euro – suggesting they perceive that there are benefits to accessing a central bank digital currency. However, demand for the digital euro raises concerns about strong outflows of deposits from the banking sector, with potential implications for financial stability. We study this issue in a new macroeconomic model and conclude that the digital euro – if complemented with an appropriate holding limit, i.e. the maximum digital euro amount that an individual is permitted to hold – can actually strengthen financial stability and improve welfare.

Concluding panel with Benoît Cœuré, European Central Bank, Marcel Fratzscher, German Institute for Economic Research, Mario Monti, Bocconi University and Christoph Schmidt, German Council of Economic Experts. Chair: Christine Lagarde, International Monetary Fund

Session 3: "Germany’s current account surplus: a problem to be fixed?" with Clemens Fuest, ifo Institute, Maurice Obstfeld, International Monetary Fund, Jens Südekum, Heinrich Heine University and Guntram Wolff, Bruegel. Chair: Jens Ulbrich, Deutsche Bundesbank.

Session 2: "Fiscal policy: a medium-term view" with Servaas Deroose, European Commission, Lars Feld, German Council of Economic Experts, Daniel Gros, Centre for European Policy Studies and Ludger Schuknecht, Federal Ministry of Finance. Chair: Rolf Strauch, European Stability Mechanism.

Session 1: "Wages and inflation in Germany" with Peter Bofinger, German Council of Economic Experts, Michael Hüther, German Economic Institute (IW), Stephan Kohns, Deutsche Bundesbank and Lucrezia Reichlin, London Business School. Chair: Poul Thomsen, International Monetary Fund

Keynote address by Dr Jens Weidmann, President of the Deutsche Bundesbank

26. – 27.06.2024 | 8th Annual Macroprudential Conference | Eltville am Rhein

Geld begleitet uns das ganze Leben. Im Geldmuseum der Bundesbank erleben Sie die faszinierende Welt des Geldes. Ein Video in Gebärdensprache.

John H. Cochrane (Hoover Institution)

Speaking at the invitation of the Bundesbank on 05 December 2017 at the Goethe University in Frankfurt, Tharman Shanmugaratnam, Deputy Prime Minister of Singapore and Coordinating Minister for Social and Economic Policies will speak on the challenge of inclusive growth, which has been the exception internationally. Inclusive growth means creating opportunities for all segments of society and ensuring that everyone gets their fair share of the acquired wealth.  

Bundesbank Deputy Governor Claudia Buch and Executive Board member Andreas Dombret present the 2017 Financial Stability Review to the press.