| Staatsbank der DDR | |||||
| |||||
| Headquarters | Berlin, DDR | ||||
|---|---|---|---|---|---|
| Established | January 1958 | ||||
| Präsident | Mathias Thorstein | ||||
| Central bank of | Deutsche Demokratische Republik | ||||
| Currency | Mark der DDR | ||||
| ISO 4217 Code | DDM | ||||
| Reserves | __3,177,000,000 M (in gold) 189,533,000,000 M (total assets) | ||||
| Base borrowing rate | 1.75% (2011) | ||||
| Website | www.staatsbankddr.dd | ||||
The Staatsbank der DDR (State bank of DDR) is the central bank of the Deutsche Demokratische Republik. Among its major purposes are: maintenance of the value of the national currency, balance of payments as well as facilitating trade transactions and contributing to the economic advancement of the country. The Staatsbank issues the national currency, the Mark der DDR. Präsident der Staatsbank is the head of the bank and is a member of the Ministerrat (Council of Ministerss).
Structure[]
The Saatsbank has established regional branches in all DDR districts as weel as overseas representative offices in China, Zambia, Togo, Cuba, East Bulgaria, Skandinavia and Paris.
The PBC consists of 17 functional departments:
- General Administration Department
- Legal Affairs Department
- Monetary Policy Department
- Financial Market Department
- Financial Stability Bureau
- Financial Survey and Statistics Department
- Accounting and Treasury Department
- Payment System Department
- Technology Department
- Currency, Gold and Silver Bureau
- State Treasury Bureau
- International Department
- Internal Auditing Department
- Personnel Department
- Research Bureau
- Credit Information System Bureau
- Anti-Money Laundering Bureau (Security Bureau)
Role[]
- .Promote monetary stability and formulate monetary policies.
- .Promote institutions’ stability and supervise financial institutions.
- .Provide banking facilities and recommend economic policies to the government.
- .Provide banking facilities for the financial institutions.
- .Manage the country’s international currency reserves.
- .Manage the country's gold reserves.
- .Regulate gold transactions
- .Print and issue national currency.
- .Supervise all commercial banks’ activities in DDR. Lend the state money to the commercial banks.
- .Issue government bonds, organize bond auctions.
- .Be in charge of other roles in monetary management and foreign exchange rates.
- .Ensure normal internal and external payment operations.