Law on the Deutsche Bundesbank
| Basic data | |
|---|---|
| Title: | Law on the Deutsche Bundesbank |
| Short title: | Bundesbank Act (not official) |
| Abbreviation: | BBankG (not official) |
| Type: | Federal law |
| Scope: | Federal Republic of Germany |
| Legal matter: | Commercial administrative law , central bank law |
| References : | 7620-1 |
| Original version from: | July 26, 1957 ( BGBl. I p. 745 ) |
| Entry into force on: | predominantly August 1, 1957 |
| New announcement from: | October 22, 1992 ( BGBl. I p. 1782 ) |
| Last change by: |
Art. 270 Regulation of June 19, 2020 ( Federal Law Gazette I p. 1328, 1359 ) |
| Effective date of the last change: |
June 27, 2020 (Art. 361 of June 19, 2020) |
| Weblink: | Text of the law |
| Please note the note on the applicable legal version. | |
The law on the Deutsche Bundesbank is a law of the Federal Republic of Germany , in which the structure of a national central bank (structure, framework, tasks and functions) is laid down.
origin
The law was passed on July 26, 1957 and ended the two-tier central banking system in the Federal Republic. The restructuring of the Bank of German States , the state central banks and the Berlin central bank into the Bundesbank , as the currency and central bank of the Federal Republic, created a unified bank with the state central banks as the main administrations. The mandate to the legislature is given by Art. 88 sentence 1 GG : The federal government sets up a currency and central bank as the Bundesbank .
Section 14 specifies banknotes denominated in euros as the only unrestricted legal tender . The (numerically limited) obligation to accept coins, however, isregulatedin the Coin Act. In contrast, other forms of payment (e.g. bank transfer, check, direct debit) are not legal tender, so there is no obligation for creditors to accept payment.
Other laws
The fact that in July 1990 the D-Mark became the sole legal tender in both German states is regulated in the State Treaty establishing a monetary, economic and social union between the Federal Republic of Germany and the then German Democratic Republic . The integration of the Bundesbank into the European System of Central Banks (ESCB) is, among other things, a. regulated in the EC Treaty in Art. 4a (European System of Central Banks) and Art. 105 (Objectives and tasks of the ESCB).
See also
literature
- The monetary policy of the Bundesbank (1995) ISBN 3-927951-77-3
- The Deutsche Bundesbank Tasks, legal framework, history (April 2006) ISBN 3-86558-151-X Print version Free distribution to interested parties, as a special self-published publication by the Deutsche Bundesbank ISBN 3-86558-152-8 Internet version
