Strategy 2020 is a medium-term strategic orientation that was adopted by the Executive Board of the Bundesbank in 2016. Management staff from all quarters of the Bank were involved in developing Strategy 2020, which meant that the process was conducted transparently and openly and resulted in a strategy that enjoys broad support.
The strategy is centred on four universal strategic objectives for the Bank as a whole and thus acts as a roadmap, both within the Bank and externally. This new orientation bundles the strategic objectives at the Bank-wide level and strengthens cooperation across all business units. The objectives for the Bank as a whole are fleshed out by 27 strategic objectives relating to specific business areas.
Objectives for the Bank as a whole
Safeguard a culture of stability
The business area of monetary policy has a key role to play in this objective for the Bank as a whole. This anchors the Bundesbank’s advocacy of a stability-oriented monetary policy framework as a strategic objective. Amongst other elements, this will entail using analytical evidence to garner support for independent monetary policymaking among the general public and both national and international institutions. In this process, applying a narrow interpretation of the Bundesbank’s mandate will allow it to maintain sufficient distance from fiscal policy.
Strengthen our role in the European setting
One of the strategic objectives expanding on this objective for the Bank as a whole comes from the business area of payments. As one of the 4CB (alongside the central banks of France, Italy and Spain), the Bundesbank develops and operates payment and securities settlement systems (TARGET2, TARGET2-Securities), amongst other projects. The Bundesbank has set itself the objective of participating as a strong partner in the 4CB and in the Eurosystem in designing, developing and operating market infrastructures and strengthening collateral management.
Enhance the Bundesbank's perceived profile
One of the strategic objectives underpinning this objective for the Bank as a whole is to improve the quality of the Bank’s research publications and raise its profile among the general public and in political decision-making processes. This also entails liaising more closely with market participants and experts; the Financial Stability Forum, which is organised by the Bank, provides a platform for the regular exchange of views in that particular field.
Make the Bank fit for the future and efficient
The Bundesbank has to compete for talented staff and will be substantially affected by demographic change. It intends to be mindful of demographic developments in its staffing policy so as to ensure that qualified staff can still be recruited and to maintain existing employees’ performance and fitness for work. This encompasses all measures which encourage a corporate culture that values equal opportunities and cooperation, such as the aim of increasing the proportion of women in managerial positions. The Bundesbank is also taking steps to help protect the environment and prevent climate change. Its environmental guideline and environmental strategy, which are embedded in the strategy for the Bank as a whole, form the cornerstone of the strategic objective to use environmental resources sustainably and lower their consumption.