Sisteme bancare europene consolidate – studiu de caz Germania

Bibliografie
Banks
https://www.bundesbank.de/de/statistiken/banken-und-andere-finanzielle-unternehmen/banken

https://www.bafin.de/EN/Homepage/homepage_node.html

https://www.dsgv.de/en.html
https://sparkassenverband-bayern.de/
https://thebanks.eu/countries/Germany
https://www.barkowconsulting.com/german-banks-in-six-kpis/

german banking system

Germany’s banking sector: Facts & Figures
https://www.ebf.eu/germany/

sistemul bancar german / din Germania

Sistemul bancar din Germania
Sistemul bancar din Germania este caracterizat printr-o puternică orientare către activitatea
bancară de tip universal.
Astfel, băncile germane oferă o gamă completă de operațiuni bancare și financiare: de retail,
wholesale, investment, vânzare-cumpărare de titluri de valoare în numele clienților, asigurări.
Tipurile de bănci în Germania: băncile comerciale, băncile landurilor, băncile de economii,
instituțiile de credit cooperativ regionale și cooperativele de credit.
Băncile regionale (Regionalbanken)
Băncile landurilor (Landesbanken)
Băncile de economii (Sparkassen)
Cooperativele de credit (Kreditgenossenschaften)
Sucursalele băncilor străine (Zweigstellen ausländischer Banke)
https://ro.wikipedia.org/wiki/Sistemul_bancar_din_Germania
Sistemul bancar din Germania: caracteristici structurale
Sistemul bancar din Germania este conceput astfel încât să servească la cel mai înalt nivel una
dintre cele mai puternice economii europene din lume și cele mai dezvoltate. Fiind locomotiva
pieței europene, Germania a construit un sistem politic și economic extrem de complex, dar și
stabil, a cărui continuitate este sistemul financiar. Merită să începem cu faptul că sistemul
financiar german este legat în mod inextricabil de cel pan-european, deoarece a fost RFG care a
inițiat introducerea unei monede în toată UE.
Structura sistemului bancar Ca țară cu o economie post-industrială dezvoltată, Germania are un
sistem financiar aranjat în conformitate cu ideile economiștilor moderni asupra ordinii
neoliberale. Sistemul bancar german este o structură cu două niveluri extrem de descentralizată,
formată din două tipuri de organizații bancare. La nivelul superior al piramidei financiare a
Germaniei există organisme de control autorizate de guvern să exercite supravegherea în sfera
financiară. Cu toate acestea, sunt destul de independenți de același guvern, ceea ce le permite să
continue o politică financiară mai echilibrată.
La nivelul inferior al sistemului bancar german sunt numeroase bănci comerciale și organizații
financiare care nu au licență bancară.
Banca de Stat din Germania
Bundesbank, cunoscută și sub numele de Banca Federală, îndeplinește funcții în Republica
Federală Germania similare celor atribuite Băncii Centrale Ruse. În primul rând, autoritatea
financiară de stat reglementează circulația și creditul banilor. În ciuda faptului că, în
conformitate cu legislația, banca este independentă de guvern, ar trebui să ofere conducerii țării
un sprijin complet în problemele economice generale. De asemenea, banca de stat emite
bancnote, stabilește rata dobânzii de bază pentru împrumuturi și îndeplinește funcții de numerar
pentru guvernul federal și țările din Germania.
Băncile comerciale
Al doilea nivel al sistemului bancar din Germania este format din băncile comerciale, a căror
principală sarcină este realizarea unui profit. Principalii jucători de pe această piață sunt așa-
numitele banche, care includ Big Three: BMW Bank, Commerzbank („Commerzbank”),
Deutsche Bank („Deutsche Bank”). O caracteristică a fiecărei astfel de instituții este aceea că
este împărțită cu orice grup industrial și își servește interesele. După cum s-ar putea ghici, sursa
de bani pentru BMW Bank a fost preocuparea cu același nume. În plus, instituția financiară este
angajată în împrumuturi auto, ceea ce contribuie la creșterea vânzărilor în cauză.
Deutsche Bank are obiective și surse de finanțare mai diverse. Fiind cea mai mare dintre
instituțiile de credit comerciale germane, Deutsche Bank este asociată cu întreprinderi din
industria agricolă, produse farmaceutice, minerit, metalurgie și chiar sectorul nuclear.
Băncile funciare și bancherii privați
Deși Cei Trei Mari au o influență extrem de puternică pe piața de capital germană, numai
sectorul bancar nu se limitează la aceasta. O parte importantă și unul dintre mijloacele de
asigurare a stabilității financiare sunt băncile funciare, cea mai mare dintre ele fiind Banca
Bavareză de Ipoteca și Bănci, a cărei miză de control este în mâinile guvernului bavarez. Pe
vremuri, activitățile acestor organizații financiare erau limitate la un anumit teritoriu sau tip de
servicii prestate.Astăzi, toate restricțiile privind circulația capitalului în Germania au fost
ridicate, iar activitățile băncilor s-au răspândit nu numai la toți subiecții federației, ci și dincolo
de granițele acesteia.
Bancherii privați care efectuează tranzacții financiare în industrie sau servicii pentru un cerc
foarte limitat de clienți merită menționate în mod special. În general, o caracteristică distinctivă a
sistemului bancar german este universalizarea instituțiilor financiare și de credit. Cu toate
acestea, băncile extrem de specializate au apărut pentru prima dată în această țară. De exemplu,
prima bancă ipotecară a apărut în Silesia în 1770. De remarcat este faptul că băncile germane
sunt caracterizate de stabilitate, previzibilitate și calitate a managementului capitalului și
riscurilor.
https://decoratex.biz/bsn/ro/bankovskaya-sistema-germanii-strukturnyie-osobennosti.html

german banking system

Banking in Germany
Banking in Germany is a highly leveraged industry, as its average leverage ratio (assets divided
by net worth) as of 11 October 2008 is 52 to 1 (while, in comparison, that of France is 28 to 1
and United Kingdom is 24 to 1); its short-term liabilities are equal to 60% of the German GDP or
167% of its national debt.[1]
History
From the 15th century, banking families such as Fugger, Welser and Hochstetter were
international mercantile bankers and venture capitalists. The oldest bank still in existence in
Germany, Berenberg Bank, was founded by Dutch brothers Hans and Paul Berenberg in 1590, is
still owned by the Berenberg family, and is the world's oldest or second oldest bank, depending
on the exact definition.
Market overview
Germany has universal banking. The private customer mostly has to choose between three kinds
of banks (German "three pillar system"):
(A) private banks (including direct banks):
the largest ones are Deutsche Bank, Postbank (acquired by Deutsche Bank), Unicredit Bank AG
(HypoVereinsbank), Commerzbank and Dresdner Bank (which was acquired by Commerzbank
in 2008) – they cooperate together as the Cash Group
(B) cooperative banks:
Volksbanken und Raiffeisenbanken, Sparda-Bank and some others, see Bundesverband der
Deutschen Volksbanken und Raiffeisenbanken (BVR), DZ Bank and list of co-operative banks
in Germany
(C) public savings banks:
Sparkasse, see German public bank
Private banks are found mostly in the cities whereas cooperative and savings banks are almost
everywhere, and are often exclusive in smaller villages.
ATM (Geldautomat) are on nearly every corner. However, customers mostly have to use their
bank's ATM with their debit card if they don't want to pay a fee. Cash Group offers free ATM
through the group. Using a credit card (Visa/MasterCard/Diners Club/American Express) from a
German bank in any German ATM generates a fee of about 3%. Most people prefer to use their
EC/Maestro debit card. Many physical payments are still made in cash, but increasingly,
Germans are using their EC/Maestro. Online payments are done mostly either with direct debit
(Lastschrift) or with credit card.
Most of the banks offer a free main account (Girokonto) as long as the customer deposits a
minimum amount regularly (> €100References
Norris, Floyd (10 October 2008). "The World's Banks Could Prove Too Big to Fail – or to
Rescue". Nytimes.com. Retrieved 15 December 2017.
Other sources
J Cable, 'Capital Market Information and Industrial Performance: The Role of West German
Banks' (1985) 95 Economic Journal, p. 1180 income each month).
https://en.wikipedia.org/wiki/Banking_in_Germany

List of banks in Germany

https://en.wikipedia.org/wiki/List_of_banks_in_Germany

search: images for german banking system

Guide to banking in Germany
The banking system in Germany

Germany has a three-pillar banking system. This is made up of private commercial banks (the
largest sector, making up around 40% of banking assets), public savings banks (Sparkassen and
Landesbanken), and co-operative banks (Genossenschaftsbanken). These exist alongside
international banks in Germany and a growing number of German online banks. There are only a
small number of large, centralized banks; most of the banks in Germany are smaller, regional
banks.

The Deutsche Bundesbank is the central bank of Germany

Altogether, there are 371 credit institutions including banks in Germany, 987 local cooperative
banks, and 421 local savings banks. The Deutsche Bundesbank is the country’s central bank,
while the German banking regulatory authority is the Federal Financial Supervisory Authority
(BaFin).
German banks
Private commercial banks in Germany

Private banks in Germany make up around 40% of all German banks, with around two-thirds of
them belonging to big centralized chains. There are also around 200 smaller regional banks in
Germany. According to rankings published by Accuity, the best German bank in terms of assets
is Deutsche Bank, which is also ranked number 16 in the world. Opening hours of German banks
vary but standard business hours are typically from around 8.30–9am to around 4.30–5.30pm.
Some banks open later on Thursdays and some open on Saturdays. Some smaller regional banks
close for lunch.

The top three German commercial banks are:

 Deutsche Bank
 Commerzbank
 KfW

Public savings banks in Germany

For savings banks in Germany, there are local savings banks (Sparkassen) and regional savings
banks (Landesbanken), which are owned and controlled by the German government. There are
Sparkassen in most German cities, and there are seven Landesbanken in Germany, which act as
the main central public banks in the regional German states. Here are some of the Sparkassen
from major German cities:

 BerlinerSparkasse
 Stadtsparkasse Munich
 Frankfurter Sparkasse

Co-operative banks in Germany

Co-operative banks in Germany make up the third pillar. There are nearly 1,000 independent co-
operative institutions, many of them operating under the Volksbanken und Raiffeisenbanken
umbrella.

Online banks (Direkt Banks) in Germany

Many of the commercial, public, and co-operative banks in Germany also have online banking
options, and there are also a number of online-only and mobile-only banks that have emerged in
recent years. Online banking in Germany is fairly straightforward and very common. Besides
most German banks offering online services, a number of banks focus solely on online banking.

 bunq (English website and mobile banking app)

 N26 (English and German website and mobile banking app)
 Revolut (English and German website and mobile banking app)
 ComDirect (German only)
  DKB (German only)
 Santander (German only)

Check out our directory listings for more banks in Germany

International banks in Germany

With a large selection of foreign banks in Germany, many expats choose to open an account with
a bank from their home nation rather than a German bank. This can be a convenient option if
your existing bank has a presence in Germany, as you can sort out the paperwork to transfer your
account to the German branch before you travel to Germany.

Investment banks in Germany

Besides the larger, international institutions with offices in Germany, there are also local
investment banks:

 Baader Bank

Useful resources

 Deutsche Bundesbank – central banking institution in Germany

 Federal Financial Supervisory Authority (BaFin) – regulates the German banking sector
and provides the banking ombudsman service

https://www.expatica.com/de/finance/banking/banking-in-germany-1090571/#Banking-in-
Germany

Credit institutions under BaFin - or ECB supervision

https://www.bafin.de/DE/PublikationenDaten/Jahresbericht/Jahresbericht2018/Kapitel8/Kapitel8
_1/Kapitel8_1_1/kapitel8_1_1_node.html

Top German and World Banks

https://www.german-way.com/travel-and-tourism/banks-money/top-german-banks/

German Commercial Banks

http://www.commercialbanksguide.com/german+commercial+banks/

Association of German Public Banks

A leading association of the German banking industry
The Association of German Public Banks (Bundesverband Öffentlicher Banken Deutschlands,
VÖB) is a leading industry association in the German banking industry. It was founded in 1916
and represents nowadays 59 member institutions including the regional banks (Landesbanken) as
well as the promotional banks owned by the federal and state governments. The VÖB together
with the four other top-level associations of the German banking industry comprise the German
Banking Industry Committee, GBIC (Die Deutsche Kreditwirtschaft, DK).
Read more about our Current positions on the regulation of banks and the financial markets.
Read more about our Regulation of Banks and Financial Markets in Europe – Glossary.
Mission
The VÖB represents the joint business and general interests of its members in all matters relating
to banking policy promotes cooperation between member banks and supports them in the
fulfillment of their missions. The association represents and promotes the interests of its
members through communication with lawmakers on the national and state level, national and
international regulatory authorities, the media and the public. It is accredited with the German
Bundestag, the European Parliament and the European Commission. The VÖB has maintained
an office in Brussels since 1987. The association has maintained a liason office to the European
Banking Authority (EBA) and to the European Securities and Markets Authority (ESMA) in
Paris. The association is also a member of the European Association of Public Banks (EAPB),
which is located in Brussels.
Members
German financial institutes held directly or indirectly by the public sector either in whole or in
part, or which perform special missions in or arising out of the public interest, can become
regular members of the VÖB. Banks that already belong to another banking-industry association
can apply for special membership.
Employer association
The VÖB is also an employer association. It represents its members in collective-bargaining
negotiations for public banks since 2020.
Ombudsman
The VÖB has been operating a customer complaint system since 1992; in May, 2001, the system
was expanded to include an extrajudicial arbitration body and an ombudsman. On the European
level, the VÖB ombudsman is a member of the Financial Complaint Service Network (FIN-
NET), to which over 40 national arbitration bodies belong.
Deposit guarantee
The VÖB compensation scheme (statutory deposit guarantee) secures customer deposits as well
as liabilities from securities transactions. The associations Voluntary Guarantee Fund provides
additional security for deposits.
Total assets
As of the end of 2019, the total assets of all VÖB member banks amounted to 2,900 billion
euros. The market share of the VÖB member banks was thus 35 percent, as measured by the total
assets of the entire German banking industry. 
https://www.voeb.de/en

Sistemul bancar fragmentat din Germania avantajează IMM-urile şi acesta este un factor
al succesului celei mai puternice economii din Europa. Ar trebui ca acesta să fie noul
model pentru Băncile Europene?
Autor: Răzvan Botea
04.02.2018
Sistemul bancar cu „trei piloane” este văzut ca fiind avantajos pentru afacerile mici şi un factor
pentru succesul economic al Germaniei, scrie The Wall Street Journal.
Germania ar putea fi cel mai nepotrivit loc din lume pentru a fi o bancă. Cu mai mult de 1.600 de
bănci, mai multe decât Regatul Unit, Franţa, Italia şi Spania la un loc, sectorul este aglomerat şi
acoperirile sunt mici.
Cu toate acestea, pentru germani, gama largă de credite pe care o poate oferi un număr atât de
mare de bănci a fost un factor al succesului economic.
La întrebarea „cum ar trebui să arate creditorii europeni?”, este posibil ca răspunsul să fie
sistemul bancar german.
Marea Criză Financiară a relevat practicile nesănătoase de creditare şi a creat probleme
profitabilităţii, autorităţile promovând consolidarea.
Sistemul cu „trei piloane” al Germaniei este constituit din 200 de bănci comerciale, 400 de bănci
de economii de stat locale, inlcusiv 6 creditori regionali mai mari şi 970 de cooperative deţinute
de 18 milioane de participanţi – 1 din 4 germani participă la aceste cooperative.
Băncile comerciale deţin doar o treime din împrumuturi şi depozite, conform Citigroup, în timp
ce 5 cele mai mari bănci deţin doar 30% din piaţă, la jumătate faţă de media din Europa de 60%.
Într-o ţară ca Germania, unde 99,6 din companii sunt reprezentate de IMM-uri şi businessurile
sunt împrăştiate pe toată suprafaţa, creditorii locali mici joacă un rol major.
https://www.zf.ro/business-international/sistemul-bancar-fragmentat-germania-avantajeaza-imm-
urile-acesta-factor-succesului-celei-puternice-economii-europa-ar-trebui-acesta-fie-noul-model-
bancile-europene-16951478

Cele mai mari bănci din lume: JPMorgan din SUA, Deutsche Bank din Germania, HSBC
din Marea Britanie şi alte bănci sunt arătate cu degetul pentru că de-a lungul deceniilor au
permis spălarea banilor prin conturi şi nu au luat măsuri
https://www.zf.ro/banci-si-asigurari/cele-mari-banci-lume-jpmorgan-sua-deutsche-bank-
germania-hsbc-marea-19555938

Viitor sumbru pentru Deutsche Bank?

https://www.dw.com/ro/viitor-sumbru-pentru-deutsche-bank/a-45284835
Proiectarea unei noi arhitecturi a sistemului bancar în condiţiile globalizării financiare
Ioan I. Bari REi-ASE
Jurnalul Economic Anul X, nr. 24 Iulie 2007
pp. 121-142
http://www.rejournal.eu/sites/rejournal.versatech.ro/files/issues/2007-06-
01/575/je202420bari.pdf

Tendinþe privind globalizarea sistemului bancar internaþional

Emanuela Mihaela Savu
Lector universitar doctor
Institutul Bancar Român Bucureºti
http://store.ectap.ro/articole/210.pdf
search: Sistem bancar european consolidat Germania

search: images for german banking system

A View From Germany I – How the three-pillared German Banking System has gotten
through the crisis
https://www.finance-watch.org/a-view-from-germany-i-how-the-three-pillared-german-banking-
system-has-gotten-through-the-crisis/

Why German banking rules are different

https://theeconomicstandard.com/why-german-banking-rules-are-different/

How Germany’s three-tiered banking system works

Germany has more banks per head than any other developed country. Here is how that happened
– and why it might not last.
https://www.handelsblatt.com/english/finance/handelsblatt-explains-how-germanys-three-tiered-
banking-system-works/23570344.html?ticket=ST-636957-7HbiOJPVk4OrSWe0SsWm-ap3

German Banks: Chronically Sick and No-One Has a Cure

The structure of the German market leaves the odds stacked against major reform
By 
Paul J. Davies
Nov. 29, 2017 7:19 am ET
For all of Germany’s economic strength and discipline, its banking system remains a mess.
In all of the eurozone, German banking consistently produces some of the weakest returns and is
most in need of consolidation. But investors hoping for better profitability shouldn’t hold their
breath, even with an aggressive, value seeker like Cerberus Capital Management of the
U.S. appearing as a big shareholder at both Commerzbank and Deutsche Bank .
The structure of the German market leaves the odds stacked against major reform.
Germany’s banking system is among the most fragmented, least efficient and poorly performing
in the eurozone—and it is blighted with about €60 billion of bad loans mainly from the stricken
shipping industry.
Bad loans make up a smaller portion of total loans at 2.2% in Germany than in Spain (5.4%)
or Italy (12%), which is one reason investors don’t panic about German banks when regulators
toughen bad-loan rules. The other reason is that more than half of the industry is state-backed or
mutually owned anyway.
https://www.wsj.com/articles/german-banks-chronically-sick-and-no-one-has-a-cure-
1511957957

The changing German banking industry: where do we come from and where are we
heading to?
https://www.bis.org/publ/confp07j.pdf

The transformation of the German financial system

https://www.researchgate.net/publication/227350478_The_transformation_of_the_German_finan
cial_system
https://www.jstor.org/stable/24702674?seq=1

old:
German Banks and Stock Exchange Speculation
https://www.jstor.org/stable/1171686?seq=1#metadata_info_tab_contents

The German Banking System – Types of Banks and Experience in the Crisis
Prof. Dr. Rudolf Faltermeier
TU Munich Business School
https://publishup.uni-potsdam.de/opus4-
ubp/frontdoor/deliver/index/docId/6632/file/EFC_Faltermeier_13_25.pdf
“The German Banking System. A possible model for prospective new EU-members”
https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/1537
/BBS_en_2006_02_Broker.pdf

Germany : Technical Note on Banking Sector Structure

Volume/Issue:
2011/370
https://www.elibrary.imf.org/view/IMF002/12389-9781463928551/12389-
9781463928551/12389-9781463928551_A001.xml?language=en&redirect=true

Financial Stability
https://en.ppt-online.org/172800

Green Finance and the German Banking System

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2959931

Performance Analysis of the German Banking Sector before and throughout the recent
Financial Crisis 2001-2015
https://www.semanticscholar.org/paper/Performance-Analysis-of-the-German-Banking-Sector-
Serafeimidis/e11c657f0a94723c26bce3a22bf79a0e3ea5df92

BANKING LECTURE (1)

https://slideplayer.com/slide/17021793/

Topic 4: Banking Structures Around the World The United Kingdom and Germany
https://slideplayer.com/slide/4779442/

Bank M&A to be key theme in Germany in 2019, amid talk of 'super landesbank'
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/bank-m-a-
to-be-key-theme-in-germany-in-2019-amid-talk-of-super-landesbank-48983314
Germany: Financial Sector Assessment Program-Stress Testing the Banking and
Insurance Sectors-Technical Notes
https://www.elibrary.imf.org/view/IMF002/23481-9781475564549/23481-
9781475564549/23481-9781475564549_A001.xml

The German Financial Industry from a US Perspective

https://link.springer.com/content/pdf/10.1007%2F978-3-642-17053-9_5.pdf

https://www.slideshare.net/TanuKirttania2/bank-management-mkt-323

https://vimeo.com/236635570

Five steps for European banks to shape up

https://www.bearingpoint.com/en/our-success/thought-leadership/five-steps-for-european-banks-
to-shape-up/

4 juni 2015
New Book: The German Model
While in 1999 Germany was called the sick man of Europe due to its
conservative banking system and rigid institutional structures by the
Economist, 'troubled with sclerotic employment, sluggish growth, and
severe fiscal problem', it outperformed the US after the financial crisis
and became a European Superstar (Reisenbichler and Morgan). Krugman
even went as far as talking about a German job miracle and praised
Germany for its potency to create jobs and prevent unemployment. He
suggested the United States should learn from this model (Krugman
12.9.2009 in NYT).
What makes Germany successful, if so, or is it not a 
success? Is there such a thing like a German model? What makes a
model? Which theory stands behind the German model view? What is the
cause of Germany's success? Is the German model sustainable? Can it be
copied or emulated by its neighbours? What would you recommend Germany to do? 
This book provides answers to these questions and more. Matthias Knuth, of the INSPIRES
consortium, has written a chapter in this book called 'No German Modacle!'.
The book consists of two parts. Part one shows Germany seen by some authors of the Variety of
Capitalism literature hosted in the US, and by Germans themselves. Part two shows Germany in
the eyes of its European neighbours. 
The German Model - Seen by its Neighbours can be accessed here. 
http://www.inspires-research.eu/news/item/81

Sparkassen The german Savings Banks 200 years of public banking serving the general
public, SME s and communities
https://docplayer.net/18572070-Sparkassen-the-german-savings-banks-200-years-of-public-
banking-serving-the-general-public-sme-s-and-communities.html

4 December 2013
Credit Research Sector Report
UniCredit Research
German Landesbanks
https://www.research.unicreditgroup.eu/DocsKey/credit_docs_2013_137836.ashx?
EXT=pdf&KEY=n03ZZLYZf5lf7or0wmWQ7V_Y2gw_sooI43mPfQ-Bbr4=

Jürgen Gießler, General Manager Bausparkasse Schwäbisch Hall AG Germany

https://www.slideserve.com/kamuzu/j-rgen-gie-ler-general-manager-bausparkasse-schw-bisch-
hall-ag-germany

Developing a Frameworkfor Derivative Sales within Strategic Business Unitsof German

Savings Banks
Jan van Bracht
Published 2014
https://www.semanticscholar.org/paper/Developing-a-Frameworkfor-Derivative-Sales-within-
Bracht/771bc75416534036d34a9d5d98aadd677ab55daf

Das EmpireStrikes Back II*

http://www.international-economy.com/TIE_Sp12_Engelen.pdf

Cooperative banks a business model under pressure

http://docplayer.net/21257460-Cooperative-banks-a-business-model-under-pressure.html

The German banking system: Structure, regulation, and Basel II implementation

January 2010
In book: Basel II: Problems and Prospects of Usage in National Banking Systems (pp.12-
37)Publisher: SHEI “UAB NBU”Editors: Anatoliy Yepifanov, Inna Shkolnik
Authors:
Peter Reichling
Otto-von-Guericke-Universität Magdeburg
Diana Afanasenko
downloaded
https://www.researchgate.net/publication/274637621_The_German_banking_system_Structure_r
egulation_and_Basel_II_implementation

The German Banking System

January 2016
DOI: 10.1057/978-1-137-52144-6_21
In book: The Palgrave Handbook of European Banking (pp.541-566)
Authors:
Patrick Behr
Fundação Getulio Vargas
Reinhard H. Schmidt
Goethe-Universität Frankfurt am Main
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Germany's Three-Pillar Banking System : Cross-Country Perspectives in Europe

II What Does the Three-Pillar System Look Like?
Author(s):International Monetary FundPublished Date:June 2004
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9781589063488/ch02.xml?language=en&redirect=true

The transformation of the German financial system

Andreas Hackethal, Reinhard H. Schmidt, Marcel Tyrell
Dans Revue d'économie politique 2006/4 (Vol. 116), pages 431 à 456
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The Structure of the German Banking System and its Ethical Implications
The Ethical Dimension of Financial Institutions and Markets pp 249-262| Cite as
The Structure of the German Banking System and its Ethical Implications
Bettina Löhnert
https://link.springer.com/chapter/10.1007%2F978-3-642-79723-1_13

Finance - The central banking system

Finance of Germany
The central banking system
Germany’s central bank, the Deutsche Bundesbank, is headquartered in Frankfurt am Main,
which is the country’s main financial centre and also the base of the European Central Bank, the
EU’s chief financial institution. Before the circulation of the euro, the common currency of the
EU, in 2002, the Bundesbank issued the deutsche mark (the country’s former currency) and
oversaw its circulation. As the EU’s most powerful national central bank, the Bundesbank played
a pivotal role in the planning of and preparation for the euro. One of its primary roles now is to
implement the monetary policies of the European System of Central Banks to help maintain the
euro’s stability.
Upon the establishment of the Bundesbank, its preeminent characteristic was its independence
from government control, instituted to prevent a recurrence of the severe inflation experienced in
1922–23, when the government resorted to the printing press for finance. The federal bank
maintained a policy of careful control of credit and concern for the international exchange rate of
the deutsche mark, which had made West Germany the leading financial power in post-World
War II Europe. The Bundesbank demonstrated its genuine independence in 1991 when it insisted
that additional government expenditure for the eastern sector be covered by unwelcome tax
increases rather than by borrowing. Individual Land (state) central banks are the Bundesbank’s
representatives at state level.
The private banking sector
There are hundreds of commercial banks, of which the most important are the Deutsche Bank,
the KfW Bankengruppe, and the Commerzbank, though mergers have tended to shrink the
number of major banks. Apart from conducting normal banking business, German banks provide
financing for private businesses. As a result, the stock exchanges in Frankfurt, Düsseldorf, and
other cities are less influential in providing finance for industry than parallel institutions in other
countries.
Public and cooperative institutions
Germany has several types of public financial institutions, including credit and personal
checking institutions and cooperative banks. Under public law, credit institutions operate as
savings banks, and the state banks act as central banks and clearinghouses for the savings banks
and focus on regional financing. The state-owned Kreditanstalt für Wiederaufbau (“Development
Loan Corporation”) channels public aid to developing countries.

The cooperative banks are headed by the DZ Bank (Deutsche Zentral-Genossenschaftsbank, or

“German Central Cooperative Bank”), which serves as a central bank for some 1,500 industrial
and agricultural credit cooperatives.There are also public and private mortgage banks,
installment credit institutions, and the now-privatized postal check and postal savings systems,
which were once operated by the federal postal service.
In East Germany the state bank was subordinate to the Ministry of Finance and designed to be a
tool of central planning. It was part of a unified system that embraced not only central and local
government but also banks, insurance companies, and industries, all of which were directed in
their use of funds.
With economic union on July 1, 1990, East Germany came under the central banking system of
the Deutsche Bundesbank, which effected the conversion of the eastern system to the West
German mark. Progressively, the western German commercial banks, insurance companies, and
all the other financial institutions moved in. The ruined East German economy, the
unemployment assistance fund, and the bankrupt state and local administrations all required
massive financial transfusions from the federal government and the West German states. In
stages, consumer subsidies have been removed, while wages, social insurance payments, and
taxes have been progressively raised toward western levels.
https://www.britannica.com/place/Germany/Justice
https://www.britannica.com/place/Germany/Finance

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