No fundamental distinction is drawn Traditionally, no fundamental distinction is drawn between the various types of business banks. Banking business itself is broken down into different categories by the Banking Act, but this is merely to enable banking licenses to be restricted to specified activities, so that each bank needRead More →
ESRB relies on ‘soft’ (i.e. Communication) and‘intermediate’ (i.e. Formal warnings or recommendations) macroprudential interventions Macroprudential instruments In addition to macroprudential surveillance, the ESRB relies on ‘soft’ (i.e. Communication) and ‘intermediate’ (i.e. Formal warnings or recommendations) macroprudential interventions. As discussed above, the responsibility for ‘hard’ instruments lies primarily at the nationalRead More →
Joint Task funds In the Development Areas the investment subsidies disbursed from Joint Task funds and other public funds may be granted only up to the specifed maximum incentive rate level. The following table summarizes the maximum incentive rate level for the Development Areas. Table 6: Summary of maximum incentiveRead More →
Banking services are offered to the public Banking system Banking services are offered to the public, both to business and to private households, by a variety of different types of financial institution. The business banks offer the most comprehensive services, but there is also a range of savings banks, similarRead More →
The EU/Eurozone framework for macroprudential policy Macroprudential framework within the EU In 2009, the Report on Financial Supervision in the EU (de Larosière report) considered how EU supervisory arrangements could be strengthened following the financial crisis. It recommended inter alia that the existing arrangements be complemented by an EU-level macroprudentialRead More →
investment projects qualify for the Joint Task Program As a general rule, investment projects qualify for the Joint Task Program if they are both suited to induce a permanent, signifcant and immediate increase of the total income (primary effect) and suited to create new, permanent jobs or safeguard existing jobsRead More →
Adopted the euro on January 1, 1999 Currency Germany no longer maintains her own currency, having adopted the euro on January 1, 1999. The euro is managed by the European Central Bank in Frankfurt led by a multinational board of delegates from the central banks of the participating countries. ParticipationRead More →
Improving the Regional Economic Structure “Joint Task Improving the Regional Economic Structure” (“Gemeinschaftsaufgabe – Verbesserung der regionalen Wirtschaftsstruktur” – GRW) The framework of the “Joint Task Improving the Regional Economic Structure” (“Gemeinschaftsaufgabe – Verbesserung der regionalen Wirtschaftsstruktur”) or Joint Task Program (Gemeinschaftsaufgabe – GRW) regulates the distribution of non-repayable cashRead More →
Establishment of the European Systemic Risk Board (ESRB) At around the same time as the FSAP, the institutional framework for macroprudential policy was beginning to take shape in the EU, leading to the establishment of the European Systemic Risk Board (ESRB) in 2010. In December 2011, the ESRB issued aRead More →
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