In a study prepared together with Professor Friedrich Schneider of the Johannes Kepler University Linz, illegal demand for cash in Germany is investigated. The study presents an overview of economic research on the use of cash in the shadow economy as well as fresh empirical analyses by the authors. They look at the influence of the shadow economy on cash lodgements at Bundesbank branches and the demand for banknotes in Germany.

Das siebte Zahlungsverkehrssymposium stand ganz im Zeichen der Innovationen im Zahlungsverkehr. Die rund 250 Experten aus der Finanz- und Kreditwirtschaft diskutierten über wichtige Neuheiten und Entwicklungslinien im Zahlungsverkehr. Dazu gehört die immer breitere Akzeptanz und Nutzung von Zahlweisen im Internet und per mobilem Endgerät.

The February 2021 edition of the Monthly Report comments on the economic situation in Germany in winter 2020/2021.

Risks to the German financial system are clearly on the increase – main challenges lie in the worsening and widening sovereign debt crisis and the associated loss of confidence in the European banking system.

Given its public mandate to safeguard monetary stability, the Bundesbank has an inherent interest in ensuring a stable financial system. As an integral part of the European System of Central Banks, it also has an explicit mandate to contribute to financial stability.