Law on the Deutsche Bundesbank

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BBankG

Date of completion: 26.07.1957

Full quote:

" Act on the Deutsche Bundesbank in the version of the announcement of the 22. October 1992 (BGBl. I p. 1782), most recently by Article 23 of the Law of 4 July 2013 (BGBl. I p. 1981) "

Status:	New by Bek. v. 22.10.1992 I 1782;
	Last amended by Art. 23 G v. 4.7.2013 I 1981

For more details, please refer to the menu under Notes

Footnote

(+ + + Text proof applicable: 1.5.1986 + + +) 
(+ + + for application d.  § 18 cf.  Section 54 (4) sentence 2 and  Section 51 (4) sentence 2 KAGB + + +) 

  

First section
Legal Form and Task

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§ 1

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§ 2 Legal form, share capital and seat

The Deutsche Bundesbank is a federal legal entity under public law. Its share capital of 2.5 billion euros is the federal government. The bank is based in Frankfurt am Main. Unofficial table of contents

§ 3 Tasks

As a central bank of the Federal Republic of Germany, the Deutsche Bundesbank is an integral part of the European System of Central Banks. It shall act in the performance of its tasks with the primary objective of ensuring price stability, shall maintain and manage the foreign reserve assets of the Federal Republic of Germany, shall ensure the banking settlement of payments in the territory of Germany and with foreign countries and contributes to the stability of payment and settlement systems. It shall also carry out the duties assigned to it under this law or other legislation. Unofficial table of contents

§ 4 participations

Without prejudice to Article 6 (2) of the Statute of the European System of Central Banks and of the European Central Bank, the Deutsche Bundesbank shall be entitled to take part in the Bank for International Settlements and with the consent of the Bank. Federal Government to participate in other institutions that serve a national monetary policy or international payment and credit transport, or otherwise are likely to promote the performance of their tasks.

Second section
Organization

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§ § 5 and 6 (omitted)

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§ 7 Executive Board

(1) The institution of the Deutsche Bundesbank is the board of directors. He manages and manages the bank. It shall adopt an organisational statute which shall define the responsibilities within the Management Board and the tasks which may be entrusted to the main administrations. The Board of Management may delegate the exercise of certain matters to a member responsible for its own responsibility. (2) The Executive Board shall consist of the President and the Vice-President and four other members. The members of the Executive Board must have special professional competence. (3) The members of the Executive Board are appointed by the Federal President. The appointment of the President and the Vice-President as well as another member shall be made on a proposal from the Federal Government, which shall be submitted by the other three members on a proposal from the Federal Council in agreement with the Federal Government. In order to appoint the Vice-President, the Federal Council may submit a proposal to the Federal Government. The Federal Government and the Federal Council have to listen to the board of directors in their proposals. The members shall be appointed for a period of eight years, exceptionally for a shorter period of time, but at least for five years. The members of the Executive Board are in a public-service relationship. Their legal relationships with the Bank, in particular salaries, pensions and survivors ' salaries, shall be governed by contracts with the Management Board. The contracts shall be subject to the agreement of the Federal Government. (5) The Executive Board shall advise under the chairmanship of the President or Vice-President. It shall take its decisions by a simple majority of the votes cast. In the event of a tie, the Chairman's vote shall indicate the rash. The allocation of responsibilities within the Executive Board cannot be decided against the President. Unofficial table of contents

§ 8 Main administrations

(1) The Deutsche Bundesbank has one main administration for the area

1.

of the State of Baden-Württemberg,

2.

of the Free State of Bavaria,

3.

the Länder of Berlin and Brandenburg,

4.

the Free Hanseatic City of Bremen and the Länder of Lower Saxony and Saxony-Anhalt,

5.

the Free and Hanseatic City of Hamburg and the Länder Mecklenburg-Vorpommern and Schleswig-Holstein,

6.

of the State of Hessen,

7.

of the State of North Rhine-Westphalia,

8.

the countries of Rhineland-Palatinate and Saarland,

9.

the Free State of Saxony and Thuringia.

(2) The main administrations shall each be headed by a President, who shall be subject to the Management Board of the Deutsche Bundesbank. These bear the name of President of the main administration. (3) to (5) (omitted) Unofficial table of contents

Section 9 Advisory councils to the main administrations

(1) Each head office shall have a regular meeting with the President of the head office and shall consult with him on the implementation of the work in his field. (2) The Advisory Board shall consist of a maximum of fourteen Members who are to have special knowledge in the field of credit. A maximum of half of the members shall be from the various branches of the credit industry and the other members shall be made up of the commercial, commercial, insurance, liberal professions, agriculture and manual workers. and employees ' employees. The Advisory Board shall meet twice a year. (3) The members of the Advisory Board shall be appointed by the President of the Deutsche Bundesbank for a period of three years on a proposal from the competent national governments. (4) The Advisory Council shall be chaired by the Advisory Council. President of the main administration. In the case of advice items which are of their nature confidential or which the chairman has expressly referred to as confidential, the participants shall be obliged to maintain secrecy at the meetings of the Advisory Board. Unofficial table of contents

§ 10 branches

The Deutsche Bundesbank may maintain branches which are subject to the relevant head office. Unofficial table of contents

§ 11 Representation

(1) The Deutsche Bundesbank shall be represented by the Executive Board in court and out of court. Section 31 (2) and section 41 (4) remain unaffected. (2) declarations of intent are binding on the Deutsche Bundesbank if they are submitted by two members of the board of directors or by two authorised representatives. In order to obtain the legal validity of a declaration of intent to be issued to the Bank, the declaration is sufficient for a representative. (3) The power of representation can be verified by a certificate issued by an official of the Deutsche Bundesbank. (4) Claims against the Deutsche Bundesbank, which refer to the business operations of a head office or a branch office, may also be levied at the court of the head office of the head office.

Third Section
Federal Government and the Federal Bank

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§ 12 Relationship between the Bank and the Federal Government

In exercising the powers conferred on it by this Act, the Deutsche Bundesbank shall be independent of instructions from the Federal Government. To the extent that this is possible in accordance with its task as part of the European System of Central Banks, it shall support the general economic policy of the Federal Government. Unofficial table of contents

Section 13 Cooperation

(1) The Deutsche Bundesbank has to advise the Federal Government on matters of substantial monetary policy importance and to provide it with information on request. (2) The Federal Government is to inform the President of the Deutsche Bundesbank about its Deliberations on matters of monetary importance.

Fourth Section
Monetary policy powers

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§ 14 Music edition

(1) Without prejudice to Article 128 (1) of the Treaty on the Functioning of the European Union, the Deutsche Bundesbank shall have the exclusive right to issue banknotes within the scope of this Act. Banknotes denominated in euro are the only unrestricted legal tender. The Deutsche Bundesbank has publicly disclosed the denominations and the distinguishing characteristics of the notes issued by it. (2) The Deutsche Bundesbank may, without prejudice to Article 128 (1) of the Treaty, on the functioning of the European Union notes on confiscation. Notes called up will be invalid after the expiration of the exchange period specified on the call. Unofficial table of contents

§ § 15 and 16 (omitted)

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§ 17

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Section 18 Statistical surveys

In order to carry out its task, the Deutsche Bundesbank is entitled to order statistics in the area of banking and monetary affairs in all credit institutions, capital management companies and externally managed investment companies, and , § § 9, 15 and 16 of the Federal Statistics Act are to be applied accordingly. The Deutsche Bundesbank can publish the results of the statistics for general purposes. The publications may not contain details. According to § 13 para. 1 persons entitled to the right of information may be notified only if and to the extent that it is provided for in the arrangement on the statistics.

Footnote

(+ + + § 18: For application see Section 51 (4) sentence 2 and § 54 para. 4 sentence 2 KAGB + + +)

Fifth Section
Business circle

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Section 19 Business dealings with credit institutions and other market participants

Without prejudice to Chapter IV of the Statute of the European System of Central Banks and of the European Central Bank (BGBl I), the Deutsche Bundesbank shall be entitled to use credit institutions and other market participants. 1251, 1297), operate the following operations:

1.

Grant loans against collateral and, in the open market, buy or sell receivings, exchange-traded securities and precious metals definitively (by cash or by appointment) or as part of repurchase agreements; in the case of PfChanging the Bank is admitted to the pledge is entitled to auction the pledge by one of its employees or by a person empowered to auction or, if the pledged item has a stock exchange or market price, by one of the aforementioned persons or by a person who is liable for the sale of the pledge. to sell the trading broker at the current price and to pay for the costs, Interest and capital to be satisfied or to be appropriated to the pledged subject, whereby the Bank's claims shall be terminated at the level of the stock exchange or market price; these rights shall also be applied to the Bank vis-à-vis other creditors and to the Bank insolvency of the debtor and also, in the case of a preceding safeguard measure, against the debtor; they shall also apply where the bank carries out the recovery for another member of the European System of Central Banks;

2.

-accept giro deposits and other deposits;

3.

take valuables, in particular securities, in custody and administration; the exercise of the right to vote of securities held or managed by it shall be prohibited;

4.

Take over cheques, direct debits, bills of exchange, instructions, securities and interest notes for entry and make payment after payment, unless the bank determines otherwise for the credit of the item for cheques, direct debits and instructions;

5.

carry out other banking orders after cover;

6.

buy and sell currency denominated in a currency other than euro, including bills of exchange and cheques, claims and securities and gold, silver and platinum;

7.

carry out all banking transactions on the market with foreign countries.

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Section 20 Business with public administrations

The Deutsche Bundesbank may carry out the transactions referred to in Article 19 (2) to (7) with the Federal Government, the special assets of the Federal Government, the Länder and other public administrations, and the Bank may, in the course of one day, allow account-overs. For these transactions, the Bank shall not charge the Federal Government, the special assets of the Federal Government and the Länder for any costs and fees. Unofficial table of contents

Section 21

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§ 22 Business with anyone

The Deutsche Bundesbank may operate the transactions referred to in § 19 (2) to (7) with natural and legal persons both in Germany and abroad. Unofficial table of contents

§ 23 Confirmation of cheques

(1) The Deutsche Bundesbank may only confirm cheques that have been drawn on it after coverage. From the confirmation note, it is obliged to redemption; for the redemption, it shall also be liable to the exhibitor and the indossant. (2) The redemption of the confirmed cheque must not be refused even if, meanwhile, via the Assets of the issuer the insolvency proceedings have been opened. (3) The obligation shall be issued from the confirmation if the cheque is not submitted for payment within eight days of the date of the issuance. Article 40 of the Scheckgesetz (Scheckgesetz) applies to the proof of the presentation. (4) The claim of the confirmation shall be valid in two years from the end of the period of application. (5) The court assertion of claims on the basis of the confirmation shall be the case for changes in the rules of jurisdiction and procedures in force. Unofficial table of contents

§ 24

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§ 25 Other shops

The Deutsche Bundesbank shall not be admitted to any business other than those approved in Articles 19, 20, 22 and 23 or on the basis of the Statute of the European System of Central Banks and of the European Central Bank only for the purpose of carrying out and handling shops or for their own operations or for their members of the company.

Section 5a

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§ § 25a to 25d (omitted)

Sixth Section
Annual accounts, cost accounting, profit distribution

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§ 26 Financial statements, cost accounting

(1) The financial year of the Deutsche Bundesbank is the calendar year. (2) The accounting system of the Deutsche Bundesbank has to comply with the principles of regular accounting. The annual accounts shall be drawn up in the light of the tasks of the Deutsche Bundesbank, in particular as part of the European System of Central Banks, and shall be disclosed with the relevant explanations; the liability conditions shall be do not need to be noted. In the absence of any deviations from the provisions of the second sentence, the provisions of the Commercial Code of Capital Companies shall apply mutas to the values of the value of the advertising. The formation of passive items within the framework of the determination of earnings also for general ventures in the in-and foreign business, as it is permissible under consideration of the task of the Deutsche Bundesbank in the context of a reasonable commercial assessment shall remain unaffected. (3) As soon as possible, the Board of Management shall draw up the annual accounts. The financial statements shall be examined by one or more auditors appointed by the Management Board in agreement with the Federal Court of Auditors, and shall then be published. The audit report of the auditor serves the Federal Audit Office as the basis for the audit to be carried out by him. (4) In order to support its management and administration, the Deutsche Bundesbank creates a cost accounting. Before the beginning of a financial year, the Deutsche Bundesbank shall issue a plan cost statement and an investment plan. At the end of the financial year, it will present the actual costs and investments in a plan/actual analysis to the plan figures. The plan/actual analysis is to be examined separately by the auditor. (5) The annual financial statements, the plan cost statement, the investment plan, the plan/actual analysis and the audit reports of the auditor are the Federal Ministry of Finance and the Federal Court of Auditors. The German Bundestag receives the annual financial statements, the plan/actual analysis and the audit reports of the auditor. (6) The Federal Court of Auditors shall report to the German Bundestag on its findings in accordance with paragraph 3. Unofficial table of contents

§ 27 Profit Distribution

The net profit shall be used in the following order:

1.

twenty per cent of the profit, but at least two hundred and fifty million euros, shall be subject to a statutory reserve, to the extent that it is less than the sum of EUR 2.5 billion, until the date of repleniation; the legal reserve may only be used to: Compensation of impairment losses and other losses are used;

2.

the remaining amount shall be deducted from the federal government.

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§ 28

(dropped)

Seventh Section
General provisions

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Section 29 Special position of the Deutsche Bundesbank

(1) The Management Board with the head office at the seat of the Bank shall have the position of a supreme federal authority. The main administrations and branches have the position of federal authorities. (2) The Deutsche Bundesbank and its employees enjoy the benefits that apply to the federal government and its servants in the form of construction, housing and rental matters. (3) The The German Bundesbank does not apply the provisions of the Commercial Code on the entries in the Commercial Register as well as the regulations concerning the membership of the Chambers of Commerce and Industry. Unofficial table of contents

§ 30 Urkundsbeamte

The President of the Deutsche Bundesbank may order for the purposes of Section 11 (3) Urkundsbeamte (Urkundsbeamte). You must have the competence to the judge's office. Unofficial table of contents

§ 31 Legal relationships of officials, employees and workers of the Deutsche Bundesbank

(1) The Deutsche Bundesbank employs civil servants, employees and manual workers. (2) The President of the Deutsche Bundesbank shall appoint the officials of the Bank. He is the supreme service authority and, in this respect, represents the bank in court and out of court. As the supreme service authority, he has all disciplinary powers; he imposes the disciplinary measures, in so far as their imposition is not reserved to the competent courts. The President may delegate his powers under this paragraph to a member of the board with the possibility of further transfer. (3) The officials of the Deutsche Bundesbank are federal officials. Unless otherwise provided in this Act, the rules applicable to federal civil servants shall apply. The entry into force of the Federal Civil Service Act is replaced by the entry into force of this Act. (4) The Federal Government is empowered to enforce the legal conditions of officials, employees and employees by means of a legal regulation without the consent of the Federal Council. Employees of the Deutsche Bundesbank, to the extent that the needs of an orderly and efficient banking operation require it. The legal regulation referred to in the first sentence may only be used to determine:

1.

for officials of the Deutsche Bundesbank, the following provisions of the Federal Civil Service Code shall be dismissed:

a)

§ § 19, 22 (6), § 28 (1) and (2), § 33 (2), § 99 (1) sentence 2 no. 3 and § 100 (1) No. 2 of the Federal Civil Service Act and Section 11 (3) (a) of the Civil Service Act;

b)

§ § 42 to 49 of the Bundesbesoldungsgesetz (Bundesbesoldungsgesetz), as amended, in so far as a revocable, non-ruthful bank supplement for use at the head office up to 9 of the hundred of the basic salary and for use in the main administrations, up to 5 of the hundred and at the head office, the main administrations and branches, a grant for special services in the form of an allowance or a one-off payment;

c)

the rules on the granting of maintenance grants to officials in the preparatory service;

2.

that, in so far as the bank allowance referred to in point 1 (b) has been dropped or reduced by the budgetary support act 2006 with effect from 1 August 2006, a compensatory allowance shall be granted in the amount of the difference between the previous and the previous New allowance, if the allowance is not added to the previous allowance. The amount of the bank allowance granted on 31 July 2006 shall be the decisive factor. On this day leave of absence is the bank allowance that would have been granted without leave of absence on that day. The compensatory allowance shall be paid as long as and as long as the previous conditions for eligibility are still fulfilled. The compensatory allowance shall be reduced by one-half of the amount of the increase in the case of any increase in the remuneration, except in the case of increases which are used for the adjustment to the remuneration in the former Federal Republic. Remuneration in this sense is the basic salary, the official and the job allowances. In addition to the remuneration, the remuneration and compensatory allowances are also expected to be granted in so far as they are granted on account of the ominous or reduction of such remuneration;

3.

that the employees of the Deutsche Bundesbank

a)

need to exercise one of the secondary activities of the prior approval referred to in Article 99 (1), second sentence, and § 100 (1) (2) of the Federal Civil Service Act (Bundesbeamtengesetz),

b)

the references referred to in point 1 (b) and the compensatory allowance referred to in point 2 shall be obtained accordingly;

4.

that the workers receive the special benefits grant referred to in point 1 (b).

The Federal Government may delegate the power to the Executive Board of the Deutsche Bundesbank without the consent of the Federal Council, by means of a regulation without the consent of the Federal Council. The legal regulations of the Executive Board of the Deutsche Bundesbank require the agreement of the Federal Ministry of the Interior and the Federal Ministry of Finance. (5) The grants for special benefits referred to in the second sentence of paragraph 4, point 1 (b) may not exceed one twentieth of the expenditure on remuneration and remuneration and wages of the officials, employees and workers of the Deutsche Bundesbank. As of 1 August 2006, the bank allowance does not take part in general increases in remuneration. (6) The Federal Government is authorized, for the purpose of an orderly and efficient banking operation, to comply with the provisions of the Law on the Preliminary training and the careers of the officials of the Deutsche Bundesbank as well as the special regulations for the individual career paths (careers, training and examination regulations) of the officials of the Deutsche Bundesbank to be issued. The legal regulation referred to in the first sentence may be based on the provisions of the Federal Civil Service Act concerning the duration of the preparatory service and the probative period, and on the duration of the period of probation for promotion in the upper-class service and for the admission to the Ascent into the higher service will be deviated. The Federal Government may delegate the power to the Executive Board of the Deutsche Bundesbank under the terms of the first sentence by means of a legal regulation. Legal regulations of the Board of the Deutsche Bundesbank on the preformation and the career paths require the agreement of the Federal Ministry of the Interior and the Federal Ministry of Finance; legal regulations on the individual runways (Career, training and examination regulations) require the agreement of the Federal Ministry of the Interior. Unofficial table of contents

Section 32 secrecy

All persons in the service of the Deutsche Bundesbank must remain silent on the Bank's affairs and facilities and on the transactions that it has concluded. They may not, after leaving the Bank's services without authorization, testifying in court or out of court or make statements about the facts which have been disclosed to them in their activities, even after they have left the Bank's services. As far as the interest of the Bank is concerned, the authorisation shall be granted to the members of the Management Board by the Bank, other servants of the Bank, by the President, who shall have this power on a member of the Management Board with the possibility of: Transfer may be transferred; the authorisation may only be denied for a judicial hearing if it requires the good of the federal government or the interests of the general public. Unofficial table of contents

§ 33 Publications

The Deutsche Bundesbank has to publish its notices to the public, in particular the call for notes, as well as the arrangement of statistics in the Federal Gazette. Unofficial table of contents

Section 34

(dropped)

Eighth section
Criminal provisions and rules on the holding of counterfeit money

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Section 35 Unauthorised issue and use of money signs

(1) Imprisonment of up to five years or a fine shall be punished,

1.

who makes unauthorised signs (trade marks, coins, bills or other documents suitable for use in payment transactions in place of coins or banknotes authorised by law) or of non-interest-bearing bearer bonds, including: if their denomination is not euro;

2.

anyone who uses unauthorised items of the kind referred to in point 1 to make payments.

(2) The trial shall be punishable. (3) If the offender is negligent in the cases referred to in paragraph 1 (2), the penalty shall be a custodial sentence of up to six months or a fine of up to one hundred and eighty daily essays. Unofficial table of contents

§ 36 Stopping of counterfeit money and unauthorised emblements

(1) The Deutsche Bundesbank and the bodies and their employees referred to in Article 6 (1) of Council Regulation (EC) No 1338/2001 of 28 June 2001 laying down measures necessary for the protection of the euro against counterfeiting (OJ L 327, 30.12.2001, p. 6), as amended, are required, counterfeit or counterfeit banknotes or coins (counterfeit money), counterfeit banknotes or coins as well as unauthorised issued objects in the sense of § 35 shall be held without delay. A receiving certificate must be issued to the person concerned. (2) A counterfeit money or objects of the kind referred to in § 35 shall be transmitted by the pledge with an attached report to the competent police department without delay. (3) suspicious banknotes or coins are to be transmitted by the pledges to the Deutsche Bundesbank without delay, together with an attached report. If it determines the integrity of the banknotes or coins, it shall send an opinion to the competent police authority and notify the transmitting authority. (4) Contrary to the law, who deliberately or negligently

1.

does not comply with the first sentence of the first sentence of paragraph 1, or the subject-matter referred to therein,

2.

the first sentence of paragraph 2 or the first sentence of paragraph 3, in connection with a legal regulation pursuant to Section 36a, first sentence, of a counterfeit currency or an item referred to therein shall not be transmitted in time, or shall not be forwarded in good time,

3.

Contrary to the first sentence of Article 37a (1), information is not provided, not correct, not complete or not in good time,

4.

shall not tolerate a measure referred to in paragraph 37a (2) sentence 2; or

5.

an enforceable arrangement according to Article 37a (3).

(4a) Contrary to Article 6 (1) of Council Regulation (EC) No 1338/2001 of 28 June 2001 laying down measures necessary for the protection of the euro against counterfeiting (OJ L 327, 31.12.2001, p. 1). 6), as amended by Regulation (EC) No 44/2009 (OJ L 344, 27.10.2009, p. 1), it does not ensure that the euro banknotes and euro coins referred to therein are checked for authenticity, or does not ensure that counterfeiting is detected. (5) The administrative offence may be a fine of up to one hundred thousand euros. (6) The Deutsche Bundesbank is the administrative authority within the meaning of Section 36 (1) (1) of the Code of Administrative Offences. Unofficial table of contents

Section 36a Regulation authorisations

The Federal Ministry of Finance is authorized, in consultation with the German Federal Bank, to provide further provisions on the manner and scope of the transfer obligations pursuant to § 36 (2) and 36 (2) and (3) without the consent of the Federal Council. and to regulate the information to be provided in this context. The legal regulation referred to in the first sentence may, in particular, provide for the obligation to recirculate the banknotes, the placing on the market and the decommissioning of banknote processing systems and the nature and extent of the banknotes used in these systems. transactions carried out by the Deutsche Bundesbank. The legal regulation according to the first sentence also allows the Deutsche Bundesbank to be able to take samples of the processed banknotes in the course of the examinations according to § 37a (2), provided that the countervalue of the banknotes is reimbursed to the pledge. The Federal Ministry of Finance may delegate the power under sentences 1 to 3 to the Management Board of the Deutsche Bundesbank without the consent of the Federal Council. Legal regulations of the Executive Board of the Deutsche Bundesbank require the approval of the Federal Ministry of Finance. Unofficial table of contents

Section 37 confiscation

(1) Unauthorised objects of the kind referred to in § 35 may be confiscted. (2) Objects drawn in accordance with paragraph 1 and counterfeit money drawn up in accordance with Section 150 of the Criminal Code shall be kept by the Deutsche Bundesbank. If the offender has been identified, they may be destroyed after the expiry of ten years and, if the offender has not been identified, after twenty years after the legal force of the judgment issuing the confiscation. Unofficial table of contents

Section 37a Information and examinations, subsatiation of banknotes in the re-issue

(1) In accordance with Section 36 (1), which wish to recirculate banknotes, the Deutsche Bundesbank shall, upon request, provide information on the origin of the banknotes, their processing and the banknote processing equipment used; and to submit documents. The information may be refused if the answer to the pledge or one of the members of the civil procedure referred to in § 383 (1) (1) to (3) of the Code of Civil Procedure or of a procedure under the law may be refused. (2) The Deutsche Bundesbank may, even without special occasion, carry out examinations in accordance with § 36 (1) and enter the business premises within the usual operating and business hours; This also applies to companies on which the catering activities are outsourced. . The persons concerned shall tolerate these measures. (3) In accordance with Article 36 (1), an undertaking shall infringe upon the provisions of Decision ECB/2010/14 of the European Central Bank of 16 September 2010 on the verification of authenticity and circumvity and on the re-issue of euro banknotes (OJ C 327 1), the Deutsche Bundesbank is to prohibit the pledge to recirculate banknotes or certain banknote denominations or to use certain systems for processing banknotes in banknotes. check.

Footnote

Section 36a (3) italic print: the word "der-" should be "the"

Ninth Section
Transitional and final provisions

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Section 38 Transitional provision for the members of the Bank's institutions

The members of the Executive Board, with the exception of the President, shall withdraw from their offices upon the entry into force of the amending Act and shall receive, for the remainder of their term of office, the terms of office as a retirement pension and subsequently the contractual provision, unless a contract pursuant to § 7 (4) sentence 2 of the Act on the Deutsche Bundesbank in the version of the announcement of the 22. October 1992 (BGBl. 1782) contains a different arrangement on the consequences of leaving the office before the expiry of the term of office on the basis of a law amending the law on the Deutsche Bundesbank. The presidents of the central banks of the state will, moreover, be taken over as presidents of the main administrations for the remainder of their term of office, in advance of their contracts. The Vice-Presidents and other members of the Management Board of the Landeszentralbanken, whose contracts provide for the termination of their contractual relationship in the event of a failure on the basis of a law amending the Act on the Deutsche Bundesbank, , the remaining Vice-Presidents and other members of the Management Board shall, for the remainder of their term of office, continue to be subject to the continuation of their contracts under the provisions of the Treaties. Consideration of § 8 of this law is taken over. Unofficial table of contents

Section 39 Transitional provision for the boards of national central banks and advisory councils

(1) The members of the board of members of the central banks of the Landeszentralbanken, which are in existence on 1 November 1992 and whose areas are changing in accordance with Section 8 (1) No. 4, 5 and 8, shall be divorced from their offices on 1 November 1992. For the remaining duration of their term of office, they receive the salaries as a retirement pension and subsequently the contractual provision. (2) The advisory councils at the central banks of the Landeszentralbanken, which are on 1 November 1992, are dissolved. Unofficial table of contents

Section 40 Change of service conditions

(1) With the entry into force of this law, the officials, employees and workers of the Bank of German Länder, the former national central banks and the Central Bank of Berlin will become officials, employees and workers of the Deutsche Bundesbank. Civil servants for life or rehearsals receive the legal status of an official at life time or on a sample according to the Federal Civil Service Act; officials on revocation receive the legal status of an official on revocation under the Federal Civil Service Act, insofar as they in the case of the existence of the conditions laid down in Section 6 (3) of the Federal Officials Act on officials shall not be appointed; in the amount of the differences between previous higher salaries and the references to which this law is due to enter into force, a compensatory allowance, which is not stable, is granted until such time as Increases in remuneration are offset; increases due to changes in family status or a change in the local class, as well as general increases in remuneration as a result of changes in the economic situation, are not allowed to: (2) The remaining provisions of Section 11 of the Federal Officials Act shall apply. In the case of an official of the Deutsche Bundesbank in the case of a retired period of retirement, the pension shall not be less than fifty per cent of the pensionable salary for five years, calculated from the final stage of his/her pension. Grade, stay behind. This does not apply to the calculation of the survivor's references. (3) With the entry into force of this law, the retirees, widows, orphans and other beneficiaries of the Bank of German Länder, the previous national central banks and the Berliner Central Bank Supply recipient of the Deutsche Bundesbank. § 180 of the Federal Civil Service Act shall apply accordingly; in this case, the entry into force of this Act shall be replaced by the entry into force of the Federal Officials Act. § 180 (4) of the Federal Civil Service Act (Bundesbeamtengesetz) applies to former officials of the Bank of German Länder, the former central banks of the Land and the Central Bank of Berlin and their survivors. (4) Paragraph 3 is to the officials of the Deutsche Reichsbank, which is after the 8. May 1945, at a service of the Deutsche Reichsbank in the Federal Republic of Germany, in accordance with its former legal status, have been re-used and retired without first serving the Bank of German Länder, a former central bank of the Federal Republic of Germany or the central bank of Berlin, and to its (5) According to the Federal laws governing the restitution of national-socialist injustice for members of the public service and for the settlement of the restitution of national-socialist injustice for the rights of persons living abroad who are members of the public service;

1.

who have been harmed in the area of the Deutsche Reichsbank, or

2.

where, as nationals or former members of the Bank of German Länder, the central banks of the Landeszentralbanken or the Central Bank of Berlin, the conditions of Section 22 (3) of the Law governing the reparation of national-socialist the right of public service members to the public,

align themselves against the Deutsche Bundesbank. This is not the case in the cases of point 1, if another Dienstherr is obliged to make reparation under section 22 (3) of the aforementioned law. (6) For persons who are subject to pensions under the law governing the legal conditions of the under Article 131 of the Basic Law has been granted or could have been granted, § 41 of this Act applies. (7) (non-subject transfer rule) Unofficial table of contents

Section 41 Legal relationships of persons covered by Article 131 of the Basic Law

(1) The Deutsche Bundesbank is a corresponding institution within the meaning of Section 61 of the Law governing the legal relationships of persons covered by Article 131 of the Basic Law with regard to the Deutsche Reichsbank, the National Bank of Bohemia and the German Federal Bank for Bohemia and the Federal Republic of Germany. Moravia and foreign central banks (No. 19 of Annex A to § 2 (1) of the Act). (2) On officials, employees and workers of the Deutsche Reichsbank, who were on duty on 8 May 1945 at the offices of the Deutsche Reichsbank in the Federal Republic of Germany and in the Land of Berlin, and

1.

have lost their office or place of work for reasons other than official or collective bargaining, and have not yet been re-used in accordance with their previous legal status, or

2.

before the entry into force of the law referred to in paragraph 1, have completed the sixty-fifth year of life or have become incapable of service and, for reasons other than official or collective law, have not received any or no corresponding supply,

§ 62 of the law referred to in paragraph 1 shall apply accordingly. (3) In the case of retired civil servants of the Deutsche Reichsbank, who retired before 1 September 1953 (Section 5 (1) No. 1, § 6 (2), § 35 (1), § 48 of the Act referred to in paragraph 1) § § § § § 7, 8, 29 (1) and § § 108, 112, 117 (1), § 140 (2) and § § 156 (1), § § 156 (1), § § 181a and 181b of the Federal Civil Service Act (Bundesbeamtengesetz), in the case of the previous tax base according to the German Civil Service Act in the Federal version of the Federal Civil Service Act (Bundesbeamtengesetz), § 117 (2) of the Federal Civil Service Act (Bundesbeamtengesetz) or Section 181 (5) of the Federal Civil Service Act (Bundesbeamtengesetz) in the German Federal Civil Service Act (Bundesbeamtengesetz) in force on 30 June 1975 Based on the relevant provisions, Section 117 (3) of the Federal Officials Act applies accordingly. The pension shall not exceed seventy-five days from the hundred of the pensions which are capable of holding it. The same applies to the surviving dependabers. (4) The President of the Deutsche Bundesbank shall be the supreme service authority for the persons to which the provisions of paragraphs 1 and 2 are to be applied. In this respect, he shall represent the Bank in court and out of court. He may delegate his duties and powers under sentences 1 and 2 to a member of the Executive Board. In the cases referred to in paragraph 1, the Federal Ministry of Finance shall, in so far as it is provided for in the law referred to in that paragraph and the provisions of the law applicable thereto, take the place of the Federal Ministry of Finance.

Footnote

Section 41 (3) Sentence 1 italic print: Aufgeh. by § 92 (1) no. 5 u. 10 G v. 24.8.1976 I 2485 Unofficial table of contents

Section 42Issue of open-market liquidity documents

(1) At the request of the Deutsche Bundesbank, the Federal Government has to make available treasury bills or non-interest-bearing treasury bills in a denomination and equipment after their choice as liquidity documents up to the maximum amount of 25 billion euros. The liquidity papers are payable at the bank. The Bank is obliged to comply with the Federal Government's obligation to fulfil all liabilities arising from the liquidity documents. (2) The nominal amount of the issued liquidity documents is to be booked by the Deutsche Bundesbank on a special account. (3) The Federal Ministry of Finance is authorized to issue liquidity documents in accordance with paragraph 1. (4) The Deutsche Bundesbank (German Federal Bank) may issue denominations denominated in euro in denominations and equipments of their choice. Unofficial table of contents

Section 43

(repeal and amendment of legislation) Unofficial table of contents

§ 44 Resolution

The Deutsche Bundesbank can only be dissolved by law. The Resolution Act determines the use of the assets. Unofficial table of contents

Section 45 Further transitional provisions

(1) § 2 sentence 2 and § 27 No. 1, respectively in the version of the Sixth Act amending the Act on the Deutsche Bundesbank, are to be applied for the first time to the annual accounts at the date of the beginning of the first year of the participation of the Federal Republic of Germany is immediately preceded by the third stage of monetary union in accordance with Article 109j of the EC Treaty. § 26 (2) sentence 2 and 3 in the version of the Sixth Act amending the Act on the Deutsche Bundesbank shall apply for the first time to the following financial year. (2) The previously referred to in Article 27 (2) of the Act, in the period up to the day before the date of Article 2 Sentence 2 of the Sixth Act amending the Act on the German Federal Bank for the entry into force of this Act, the provisions in force in force and the statutory reserve, insofar as they amount to the amount of five billion Deutsche Mark shall be disbanded at the end of the year on the date of the beginning of the first year of the The participation of the Federal Republic of Germany in the third stage of monetary union in accordance with Article 109j of the EC Treaty is immediately preceded by. The amounts resulting from the resolution will be set in the share capital until this five billion German mark is paid. The excess amount will be added to the net profit. (3) § 2 sentence 2 and § 27 Nr.1, respectively in the version of the seventh law amending the Act on the Deutsche Bundesbank, are to be applied for the first time to the annual financial statements on the cut-off date, which follows the date of entry into force of the said law. The 2.5 billion euro part of the share capital is being transferred to the statutory reserve. If the statutory reserve after an allocation from the annual financial statements on the cut-off date, which follows the entry into force after the first sentence, exceeds EUR 2.5 billion, the excess amount will be transferred to the net profit. (4) By way of derogation from § 7 (1) (1) (4) (4). 2 sentence 1 in the version valid from 20 July 2007, the Executive Board may consist of the President, the Vice-President and five other members until April 30, 2009. (5) On the basis of Section 31, Section 4, in the current version, which is valid on 11 February 2009. Staff regulations issued until the date of entry into force of a staff statute Ordinance pursuant to § 31 (4) further, but at the latest until 30 June 2009. Unofficial table of contents

§ 47

(Entry into force)