Founding of German Federal Bank

The Deutsche Bundesbank is the central bank of Germany, established in 1957 as successor to the Bank deutscher Länder, with its headquarters in Frankfurt. It was given a high degree of independence from the government and a mandate to protect the value of the currency, a priority shaped by the memory of the hyperinflation of the 1920s. The Bundesbank's cautious policy helped to keep inflation low and made the Deutsche Mark one of the strongest currencies in the world. When the euro was introduced in 1999, monetary policy was transferred to the European Central Bank, and the Bundesbank became part of the Eurosystem. It still supervises banks and issues banknotes in Germany.

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