Federal Republic of Germany - Finanzagentur GmbH

Federal Republic of Germany - Finanzagentur GmbH
legal form	Company with limited liability
founding	August 29, 1990 (as CVU Systemhaus GmbH )
Seat	Frankfurt am Main
management	Tammo Diemer and Jutta Dönges
Number of employees	approx. 250 (2015)
Branch	Finances
Website	www.deutsche-finanzagentur.de

The Federal Republic of Germany - Finanzagentur GmbH (short: German Finance Agency ) is a financial services company owned by the Federal Republic of Germany . The legal basis is Section 1 of the Ordinance on the Transfer of Tasks under the Federal Debt Management Act (BSchuWV) and Section 1 of the Federal Debt Regulation Act (BSchuWG).

history

The company was formed on September 19, 2000 by amending the articles of association of August 29, 1990 from the corporate shell of the Berlin CVU Systemhaus Abwicklungsgesellschaft mbH (formerly CVU Systemhaus GmbH based in Berlin , which in 1991 from the "CVU Application Systems GmbH i. G. "And which was finally renamed CVU Systemhaus Abwicklungsgesellschaft mbH in December 1992 after a few changes of managing director ) was founded by the federal government and is based in Frankfurt am Main .

Since 2001, the finance agency has been the central service provider for borrowing and debt management for the German state . Previously, these tasks were performed on a decentralized basis by the Federal Ministry of Finance , the Deutsche Bundesbank and the Federal Securities Administration .

On August 1, 2006, the Finance Agency was merged with the then Federal Securities Administration (previously Federal Debt Administration). Since then, as part of its private customer business, the finance agency has also offered private investors free debt register management for federal securities in the form of a debt register account and the free purchase of federal treasury bonds , financial treasures and, since July 1, 2008, the day bond . The declining demand for federal securities from private investors since the mid-1990s, however, led to a noticeable loss of importance of private customer business for the financing of the federal government and its special assets. In 2012 it was decided to discontinue the private customer business.

In addition to traditional federal securities such as federal bonds , federal bonds , federal treasury notes and interest-free treasury notes, the finance agency also organized the issue of new financial instruments. In May 2005, for example, the federal government's first US dollar bond was issued. The first inflation-linked bond issued by the federal government followed in March 2006 . In June 2013, the finance agency took over the issue of the Bund-Länder-Anleihe , a joint bond between the federal government and ten states .

From 2010 to 2013, the Finance Agency provided services for the European Financial Stability Facility (EFSF).

Since the beginning of 2018, the finance agency has been sponsored by the Federal Agency for Financial Market Stabilization (FMSA). At the same time, the finance agency took over the administration / processing of the financial market stabilization fund (FMS or special fund financial market stabilization, SoFFin ) from the FMSA , including the associated investments.

Tasks, goals, managing directors, shareholders

The federally owned company fulfills tasks in the budget and cash financing of the federal government and its special assets. In this way, it ensures that sufficient financial resources are available to cover the expenditure stipulated in the federal budget , which exceeds the tax revenue, and to repay loans that are due on time. The legal basis or the credit line, which regulates the budget law.

The range of tasks includes services for the issue of federal securities , borrowing by means of promissory note loans , the use of derivative financial instruments for (debt) portfolio optimization and money market transactions for daily balancing of the Federal Republic of Germany's account at the Bundesbank. In addition, she prepares market analyzes and develops borrowing strategies, monitors the risk and liquidity situation. The finance agency has also managed the financial market stabilization fund since 2018 . In its financing activities, it acts exclusively in the name and for the account of the federal government.

Ensuring the federal government's solvency on a permanent basis is the Finance Agency's most important task. Its corporate goal is to keep the interest cost burden for the federal government as a debtor (and thus the taxpayer) as low as possible and to limit the risks, e.g. the effects of changes in interest rates on the bond market on the debt portfolio. Due to the great importance of borrowing and debt management, the Finance Agency regularly informs the Federal Ministry of Finance and the Federal Finance Committee about its activities.

The managing directors of the financial agency are Jutta Dönges and Tammo Diemer.

The sole shareholder of the finance agency is the federal government , represented by the Federal Ministry of Finance .

conspiracy theories

→ Main article : Reich Citizens Movement # The Federal Republic is an organization under private law

With reference to the finance agency, among other things, conspiracy theorists claim that the Federal Republic of Germany is an organization under private law, the "BRD GmbH".

See also

• List of private companies with federal participation

Web links

• Federal Republic of Germany - Finanzagentur GmbH. (Official website). 
• The Bundesbank as the main bank of the federal government. Deutsche Bundesbank(information on federal securities). 
• Federal debt management. In: Public Finance. Federal Ministry of Finance(information on debt management and borrowing reports for recent years). 
• Who owns Germany? The beneficiaries of the national debt. In: TV magazine Panorama . Das Erste, April 18, 2002(film contribution). 
• Solvent also in the future. (Media library video of the Federal Government of March 21, 2017). 

Individual evidence

1. ↑ ^{a b} Commercial Register B of the Frankfurt am Main Local Court: HRB 51411, May 25, 2009, pp. 1 and 2 ( accessed on March 22, 2010)
2. ↑ Managing Director of the finance agency. Federal Republic of Germany - Finanzagentur GmbH, accessed on January 21, 2019 . 
3. ↑ Commercial Register Frankfurt am Main: New entry HRB 51411, January 18, 2001
4. ↑ Commercial Register Berlin: HRB 40774, February 21, 2001.
5. ↑ The treasury note goes, security remains. (PDF; 801 kB) e-FORUM: Federal securities 2012, accessed on March 2, 2015 . 
6. ↑ Federal securities: Off for federal treasury bonds. In: FAZ . July 3, 2012, accessed March 2, 2015 . 
7. ↑ Adjustments in the distribution and custody of federal securities. (PDF; 36.3 kB) Press release No. 22 of the Federal Finance Agency of November 22, 2012, accessed on March 18, 2015 . 
8. ↑ Inflation-indexed federal securities. Federal Republic of Germany - Finanzagentur GmbH, accessed on March 31, 2015 . 
9. ↑ ^{a b} History of the finance agency. Federal Republic of Germany - Finanzagentur GmbH, accessed on March 2, 2015 . 
10. ↑ Further development of the Federal Agency for Financial Market Stabilization (FMSA). BMF press release no.45 of December 14, 2015, accessed on December 16, 2015 . 
11. ↑ Financial market stabilization. Federal Republic of Germany - Finanzagentur GmbH, accessed on January 5, 2018 . 
12. ↑ Federal debt manager - the finance agency and its tasks. (PDF; 1.21 MB) e-FORUM: Federal securities - October 2011, accessed on March 18, 2015 . 
13. ↑ Finance agency about "us". Federal Republic of Germany - Finanzagentur GmbH, accessed on March 2, 2015 . 
14. ↑ See for more information: Finance Agency: Tammo Diemer becomes top debt manager. In: Frankfurter Rundschau . Retrieved February 6, 2013 . 
15. ↑ MDR Aktuell : The German Reich still exists for “Reich citizens” , background report, August 6, 2016.

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