Financial Glossary: Buba


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Buba

Buba

Nickname given to Bundesbank, the Central Bank of Germany.

Both the Deutsche Bundesbank and the European Central Bank (ECB) are located in Frankfurt am Main. It is sometimes referred to as "Buba" for Bundesbank.

The Deutsche Bundesbank (German for German Federal Bank) is the Central Bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB). Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. The Bundesbank was established in 1957 and succeeded the Bank deutscher Länder, which introduced the Deutsche Mark on 20 June 1948. Until the Euro was physically introduced in 2002, the Deutsche Bundesbank was the Central Bank of the former Deutsche Mark ("German Mark", sometimes known in English as the "Deutschmark").

The Deutsche Bundesbank was the first Central Bank to be given full independence, leading this form of Central Bank to be referred to as the Bundesbank model, as opposed, for instance, to the New Zealand model, which has a goal (i.e. Inflation target) set by the government.

The Bundesbank was greatly respected for its control of Inflation through the second half of the 20th century. This made the German Mark one of the most respected currencies, and the Bundesbank gained substantial indirect influence in many European countries.

Posted by Convention of Independent Financial Advisors CIFA

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