The national central banks were to 2002 the central banks of the individual Lands of the Federal Republic of the Federal Republic of Germany.

The majority of the national central banks was created 1948 and was developed after the model of the US-American Federal reserve. They functioned as legally independent issuing banks on their territory and formed together with the bank of German countries a two-stage Zentralbanksystem.

Since 1 November 1992 the management of the individual national central banks no more was identical to the respective Lands of the Federal Republic. Thus there are only nine national central banks for 16 Lands of the Federal Republic. Were folded up: Rhineland-Palatinate and the Saarland; Bremen with Lower Saxony and Saxonia-Anhalt; Hamburg with Schleswig-Holstein and Mecklenburg-Western Pomerania; Berlin with Brandenburg. The state central bank in the Free States Saxonia and Thuringia was again created from the provisional administration office of the Federal Bank in Berlin.

By the structural reform of the Federal Bank 2002 the name state central bank was omitted - the head offices are now administrative subdivisions of the German Federal Bank.

Literature

The monetary policy of the Federal Bank (1995) ISBN 3-927951-77-3

Related links

• www.bundesbank.de

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