Deutsche Bundesbank

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Deutsche Bundesbank

Headquarters	Frankfurt, Hesse, Germany
Established	1957
President	Joachim Nagel
Central bank of	Germany (1990–present) West Germany (1957–1990)
Currency	Deutsche Mark (1957–2002)
Reserves	€219,86 billion (2021)[1]
Preceded by	Bank deutscher Länder (West Germany, 1948–1957) Deutsche Notenbank (East Germany, 1948–1968) Staatsbank der DDR (East Germany, 1968–1990)
Succeeded by	European Central Bank (1999)fn
Website	www.bundesbank.de
fn The Bundesbank still exists but many functions have been taken over by the ECB.

The Deutsche Bundesbank (pronounced [ˈdɔʏtʃə ˈbʊndəsˌbaŋk], lit. 'German Federal Bank', colloquially Buba,^[2] sometimes alternatively abbreviated as BBk or DBB) is the German member of the Eurosystem and has been the monetary authority for Germany from 1957 to 1998, issuing the Deutsche Mark (DM). It succeeded the Bank deutscher Länder, which had introduced the DM on 20 June 1948.

The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the "Bundesbank model", as opposed, for instance, to the "New Zealand model", which has a goal (i.e. inflation target) set by the government. The Bundesbank was greatly respected for its control of inflation through the second half of the 20th century. This made the German Mark one of the most respected currencies, and the Bundesbank gained substantial indirect influence in many European countries.^{[citation needed]}