Federal Banking Supervisory Office
The Federal Supervisory Office for the Credit System ( BAKred , partly also BAK ) in Berlin was the supervisory authority for the credit system and was responsible for the enforcement of the Banking Act . As a banking supervisor, it monitored the equity ratios of banks, issued the permits for banking operations and was supposed to uncover maladministration in the financial system and thus protect private savings. The BAKred also worked together with the Deutsche Bundesbank , which also gave the federal governments recommendations for filling top positions in the BAKred.
It was established by law of July 10, 1961 to January 1, 1962. The presidents of BAKred were:
- Heinz Kalkstein (1962–1968)
- Günter Dürre (1968–1975)
- Inge Lore Behre (1975–1984)
- Wolfgang Kuntze (1984–1994)
- Wolfgang Artopoeus (1994-2000)
- Jochen Sanio (2000–2002; President of BaFin 2002–2012)
In 1999 the BAKred was relocated from Berlin to Bonn. There, on May 1, 2002, together with the Federal Supervisory Offices for Securities Trading (BAWe) and for the Insurance Industry (BAV), the newly established Federal Financial Supervisory Authority (BaFin) acted as an all-round financial supervisory authority.
- ↑ Rudolf Herlt: supervision without intervention. In: Die Zeit online. February 17, 1984, accessed June 7, 2017 (print edition 8/1984).