The Deutsche Bundesbank is Germany’s independent central bank. As such, it is part of the Eurosystem, the monetary authority of the eurozone, which comprises the European Central Bank (ECB) and the national banks of countries whose currency is the euro. Helping to set and implement Eurosystem monetary policy is the Bundesbank’s core function, but it performs other key tasks, such as supervising Germany’s credit institutions, maintaining financial stability and overseeing the country’s payment systems.
Professor Joachim Wuermeling is the Bundesbank’s executive board member responsible for banking and financial supervision, a task which is shared with Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), the federal supervisory authority. He is also a member of the German Financial Stability Committee set up by the Federal Ministry of Finance.
