On business day 29 October 2018 the Danish krone successfully became the first foreign currency to be made available for settlement in TARGET2-Securities (T2S).

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Economist in the Research Centre since May 2017

Economist in the Research Centre since April 2018

Here you can find the SEPA procedural rules for the clearing and settlement in the RPS SEPA-Clearer (credit transfers, direct debits and card payments).

The SEPA Cards Framework; SCF defines the standards to be met by payment service providers, card systems and other market participants in order for card payments and cash withdrawals within the Single Euro Payments Area to be processed as quickly, safely and efficiently as they are in the home country

The objective of the Single Euro Payments Area (SEPA) is to implement schemes and standards for euro payments in the future. For reasons of efficiency, it is not practical to have national schemes and the SEPA scheme operating in parallel over the long term. This is also consistent with the long-term aim of SEPA, namely to abolish existing national payment schemes.

Efficient and secure payment systems are the foundation of a stable financial system. The Bundesbank secures and monitors cashless payments in Germany as a financial centre, provides settlement and clearing services and plays an active role in the further development of the single European payment system.

On account of the differences in the legal frameworks and the various domestic direct debit procedures which exist, the EPC decided at an early stage to develop a completely new SEPA Direct Debit Scheme (SDD). However, implementation of this scheme was only possible once a common framework had been developed within the European Union.

Link to selected standards and initiatives at national level, of the European System of Central Banks (ESCB), at European level (outside the ESCB), selected international standards and initiatives and links to English language websites of EU/ESCB central banks.

On this page, you will find the Bundesbank’s economic publications.

Monetary policymakers’ main task is to maintain price stability. Within this context and based on economic analyses, the Bundesbank also advises other public institutions, in particular the German government.

The Financial Stability Board (FSB) was established in February 1999 as the Financial Stability Forum (FSF) by the ministers of finance and central bank governors of the G7 based on proposals by Hans Tietmeyer, the then president of the Bundesbank. The G20 summit in April 2009 then established the FSB, which has a broader mandate and extended membership.

The informal Ecofin, an informal meeting of the council of EU economics and finance ministers to which the governors of the national central banks are also invited, takes place twice a year. It takes no formal decisions but is intended as a forum for the free exchange of opinions between the heads of the ministries of finance and central banks.

The Committee on the Global Financial System (CGFS) is one of the central banks' committees at the BIS. It assists central banks in recognising, analysing and responding to threats to the stability of financial markets and the global financial system.

The Bundesbank plays a key role in the work of the European Systemic Risk Board (ESRB) and the European Financial Stability Committee (FSC). Its delegates are members of many substructures and expert groups and are involved in methodological and conceptual work as well in risk and instrument analyses.

High-resolution image files are available for download at the pictures archive of the DM coin and banknote collection of the Deutsche Bundesbank.

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Economist in the Research Centre since 2017

Senior Economist in the Research Centre since 2007

Economist in the Research Centre since August 2018

Economist in the Research Centre since June 2014

Economist in the Research Centre since August 2016