Germany: Bundesbank Monthly Report: Seventh Act amending the Bundesbank Act

When Germany entered into the third stage of monetary union on 1 January 1999, the monetary policy powers of the Deutsche Bundesbank were transferred to the Community level. The Bundesbank's duties and tasks have therefore changed. The Seventh Act amending the Bundesbank Act of 23 March 2002, as published in the Federal Law Gazette (Bundesgesetzblatt) on 28 March 2002, takes account of the changes in the underlying conditions by altering the way the Bundesbank is organised. The Act also provides for some technical adjustments to the Bundesbank Act arising from the introduction of the euro. This article explains how the Seventh Act amending the Bundesbank Act, which entered into force on 30 April 2002, came into being and presents its main provisions