German compensation bank
The German Compensation Bank (DtA) was founded on May 12, 1950 under the name of Displaced Bank Aktiengesellschaft , initially to grant investment loans to displaced persons, later also to displaced persons and war victims in the commercial sector. Their seat was in Bonn .
history
On April 29, 1952, the statutes and thus the name were changed to Bank for Displaced Persons and Damaged Persons (Load Compensation Bank).
By law of October 28, 1954, the bank was renamed the burden equalization bank (bank for displaced persons and injured persons) and converted into a federally direct, legally competent public-law institution . In the 1960s, the portfolio was expanded to include loans for medium-sized companies in new housing estates (ERP location program), loans to housing companies for displaced persons to promote the construction of homes and condominiums, and guarantees to pre-finance building land for displaced persons. In 1979 the equity aid program started to promote the establishment of self-employed people. From 1983 a program to promote technology-oriented companies was launched in cooperation with the Federal Ministry for Research and Technology .
The Federal Agency was given the name German Compensation Bank (DtA) on February 20, 1986. When the bank was founded, the focus was still on the equalization of burdens and support for the economic integration and promotion of those affected by the Second World War and its aftermath, as well as homeless foreigners and foreign refugees , the DtA later mainly financed measures in the business-promoting area, in particular for the commercial middle class and the liberal professions, as well as in the social area and in the area of environmental protection . Since 1989 the bank has also supported start-ups in developing countries and advisory programs in Central and Eastern Europe . In addition, she was able to arrange banking, trust and other business with the highest federal authorities. Until 2003, the DtA was subject to the supervision of the Federal Ministry of the Interior in agreement with the Federal Ministry of Finance and the Federal Ministry of Economics and Labor .
The German Compensation Bank was absorbed by KfW in August 2003 . The promotion programs of the former DtA will be continued by the newly founded KfW Mittelstandsbank , a brand at the time and a current division of KfW.
literature
- Franz-Josef Strittmatter: 1950-2000: 50 years of the German Compensation Bank: banking and public services . German Compensation Bank , Bonn 2001, ISBN 3-933823-39-0
Individual evidence
- ↑ Draft of a law on the equalization bank (bank for displaced persons and victims), p. 6 (PDF, 616 kB)
- ↑ Law on the equalization bank (bank for displaced persons and injured persons) of October 28, 1954 ( Federal Law Gazette I p. 293 )
- ↑ Law amending the law on the equalization bank of February 20, 1986 ( BGBl. I p. 297 )
- ↑ Law on the transfer of the assets of the German Compensation Bank to the Reconstruction Loan Corporation (PDF; 34 kB)