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Jens Weidmann during a speech

"Central banks are becoming their countries' largest creditors"

Bundesbank President Jens Weidmann is concerned about the development of government bond purchases by central banks in the euro area. "The higher the proportion of these bonds held by central banks, the greater the suspicion that the ban on the monetary financing of governments is being circumvented", Weidmann told the German daily newspaper Frankfurter Allgemeine Zeitung.


Bundesbank Deputy President Claudia Buch and Bundesbank chief economist Jens Ulbrich

Challenges lie ahead for the Single Supervisory Mechanism

The euro area's Single Supervisory Mechanism (SSM) has been up and running for just over a year now. At a conference in Frankfurt am Main, supervisors, bankers and academics discussed the challenges that now lie ahead in the supervisory space.


Andreas Dombret during a conversation

Dombret: banks need to improve cyber resilience

Bundesbank Executive Board member Andreas Dombret has called on banks’ management boards to take the appropriate measures to tackle cyber risks. "They need to have a concrete idea of what is at stake," Mr Dombret said at the Cybersecurity Conference in Munich.


Flags of the European Union

Europe at the crossroads

In a joint guest article, Bundesbank President Jens Weidmann and the Governor of the Banque de France, François Villeroy de Galhau, have proposed fundamental reforms in Europe to enhance prosperity and stability. They argue that stronger European integration appears to be the straightforward solution to restore confidence in the euro area. However, if policymakers shy away from a fully-fledged union, individual national responsibility would have to be reinforced with stronger rules.


Wilhem Vocke in 1925

Standard bearer for Bundesbank independence

9 February marks the 130th anniversary of the birth of Wilhelm Vocke, who was President of the Board of Managers of the Bank deutscher Länder, the Bundesbank's predecessor, between 1948 and 1957. Vocke is remembered In Germany and abroad as a man who stood up for what he believed in and as the "guardian of the currency".


A page of the Monthly Report of the Deutsche Bundesbank

Discussion paper: Monetary policy can increase banks' risk appetite

Can monetary policy measures induce financial institutions to take higher risks? This is the question addressed by the two authors of a discussion paper that the Bundesbank's Research Centre has just published. In particular, they explore how monetary policy can influence the asset (ie investment) risk entered into by banks.


Filling out a SEPA Credit Transfer

IBAN is indispensable

Effective 1 February 2016, credit transfers will no longer be processed unless users specify an international bank account number, also known as an IBAN. From this day forward, bank sort codes and account numbers will be a thing of the past.


Gold bars in the Bundesbank vault © Marc Darchinger

Frankfurt becomes Bundesbank's largest gold storage location

The Bundesbank's relocation of gold from storage locations abroad is running very much according to schedule. In 2015, 110 tonnes from Paris and 100 tonnes from New York were transferred to Frankfurt. "With 1,402.5 tonnes of gold, Frankfurt has been our largest storage location, ahead of New York, since the end of last year," said Carl-Ludwig Thiele, Member of the Executive Board of the Bundesbank.


Joachim Nagel

Expansionary monetary policy:
it's important to time the exit right

The Eurosystem has been buying euro-area government bonds and other securities since January 2015 as part of an accommodative monetary policy strategy that will boost its holdings to roughly €1.5 trillion by March 2017. Writing in a guest article, Bundesbank Executive Board member Joachim Nagel warns that finding the right time to exit this loose monetary policy isn't a matter that should be put off indefinitely.  


Stacked barrels of oil

Falling oil prices could keep consumer prices low

The drop in oil prices was instrumental in driving down German consumer prices, which declined perceptibly in December from their November levels. The Deutsche Bundesbank's latest Monthly Report suggests that if crude oil prices remain at their current low level, inflation will probably stay subdued in the months to come as well.


Crane on a construction site

Investment recovering only gradually in euro-area countries

Investment is still lagging far behind pre-crisis levels across most of the euro area, the Bundesbank writes in its latest Monthly Report. Some of the factors that briefly held back investment, such as tough financing conditions, may have become less significant, but the bleaker growth prospects are continuing to weigh on the investment climate.


Cover der Publikation International Central Banking Courses 2016

International Central Banking Courses 2016

The Centre for Technical Central Bank Cooperation will be offering more than 40 international central banking courses in 2016. Please use the online application to apply. An overview of the courses you can find here.