Overall management of each Land central bank was in the hands of its executive board (Vorstand), which as a rule consisted of the president and the vice-president of the bank.
In the wake of the Fall of the Berlin Wall, the Federal Republic of Germany and the German Democratic Republic signed a treaty on , that created an economic, social and currency union between the two German nations; it came into force on 1 July 1990, and made the Deutsche Mark the sole legal tender in both German states.
The central Banks of the Länder also controlled the subsidiary bodies (Zweiganstalten), now called branches (Filialen).The central banks of the Länder were now no longer independent note-issuing banks, but became regional headquarters of the Bundesbank, nevertheless retaining the title "state central bank" (Landeszentralbank).The Central Bank Council remained the supreme decision-making body of the Bundesbank.The Directorate was made up of the president and the vice-president of the Bundesbank and up to six additional members.The central banks of the Länder carried out business falling in their areas independently.
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As the central executive body of the Bundesbank, the Directorate (Direktorium) was responsible for implementing the decisions of the Central Bank Council.The Directorate ran the bank and was, in particular, responsible for dealings with the federal government and its "special assets" (Sondervermögen), for transactions with credit institutes operating in the Federal republic of Germany, for currency transactions, and foreign commercial transactions, and for open-market dealings.Dating Polen join the fastest growing free internet dating site! hela filmen, svensk, retro, lesbisk, gammal och ung, dansk, klassiker, morsa, tyska, mormor, onani, svälja dating, kontaktklub polmeet et nyt sted for folk forskellige lande, som har lyst møde nye venner denmark andre.The history of the Bundesbank is inextricably linked with the history of the German currency after the Second World War.
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Following the total destruction after the war, the old Reichsmark was practically worthless, and a currency reform was implemented in the western occupation zones including West Berlin: on 21 June 1948, the D-Mark, or Deutsche Mark, replaced the Reichsmark.
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) is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB).
It comprised the central banks of the states (Länder) of the West German occupation zones and the Bank deutscher Länder in Frankfurt am Main, which was created on 1 March 1948.
The central banks of the Länder acted as central banks within their areas of jurisdiction.