The Financial Market Stabilisation Agency (FMSA) was established in October 2008 to support German banks in their efforts to overcome the financial market crisis. It is an agency of the Federal Republic of Germany and is supervised by the Federal Ministry of Finance.
Alongside managing the Financial Market Stabilisation Fund’s various investments in credit institutions, the FMSA was responsible for collecting the bank levy for the Restructuring Fund and, from 2016, for the Single Resolution Fund in Germany. From 2015 to the end of 2017, the FMSA also served as Germany’s national resolution authority. In this context, under the direction of the Single Resolution Board, the FMSA was responsible for creating resolution plans and, if necessary, for the resolution of banks located in Germany. In 2018, the administration of the Financial Market Stabilisation Fund was integrated into the Germany Finance Agency (Finanzagentur GmbH), and the role of national resolution authority was assumed by the Federal Financial Supervisory Authority (BaFin).
As a result, the FSMA is now only responsible for the expanded legal supervision of Portigon AG and the resolution agencies established under its umbrella – FMS Wertmanagement and Erste Abwicklungsanstalt.