This report reviews the effectiveness of the Bundesbank’s Research Centre. In particular, the Bundesbank asked the authors of the report to examine the coverage and appropriateness of the research topics investigated by the Centre, the quality of the research and the adequacy of the Centre’s infrastructure and organisation for achieving its objectives.

The Bundesbank posted a profit of €2.0 billion for the 2017 financial year, compared with €1.0 billion one year earlier. Following an allocation to the reserves, the remaining distributable profit of €1.9 billion.

The Deutsche Bundesbank has presented a balanced result for the year 2021. As in the previous year, the Bank is not transferring any profit to the Federal budget. Explaining this decision, Bundesbank President Joachim Nagel said it was necessary to further increase the risk provisions on account of the emergency monetary policy measures taken to counter the impact of the pandemic