17 January 1820

Under the “Ordinance Regulating the Future Treatment of the Entire Public Debt” issued with the aim of radically reorganizing Prussia’s public finance system the “Preussische Hauptverwaltung der Staatsschulden” (Prussian Central Administration for Public Debt) is set up as an “administrative body entirely separate from the other state and fiscal administrations“.

Christian von Rother is its first president (for a list of all presidents click HERE). He has four members under him.

24 February 1850

With the passing of a constitution for the State of Prussia the responsibilities and status ofPrussia’s public debt administration are reorganized with the “Law concerning the Administration of Public Debt and the Creation of a Public Debt Commission”.

The Central Administration for Public Debt remains “an independent administrative body separate from the general fiscal administration“. However, it is integrated in the Ministry of Finance. Its supervision is assigned to a Public Debt Commission.

26 July 1867

With the passing of the constitution of the North German Confederation the Central Administration for Public Debt is assigned responsibility for administering its debt.

16 April 1871

With the proclamation of King William of Prussia as German Emperor (“Kaiserproklamation”) and the creation of the German Empire (“Reich”) the Central Administration for Public Debt assumes the responsibilities of public debt administration for the German Empire and also manages the conversion of the old bonds into Reichsmark.

1883

The Prussian Public Debt Register is introduced to simplify the management and settlement of public debt.

19 March 1900

The first “Public Debt Order of the German Empire” consolidates various laws regulating the raising and administration of public debt. Administration of the bonds of the German Empire (“Reichsanleihen”) is assigned to the Central Administration for Public Debt which is renamed the “Reichsschuldenverwaltung” (Public Debt Administration of the German Empire).

13 February 1924

After the currency reform the second “Public Debt Order of the German Empire” regulates the way in which public debt is raised and confirms the administrative authority’s independence.

In the same year the National Debt Administration moves to a new office building in the Oranienstrasse inBerlin.

24 March 1933

Under the “Law for the Alleviation of the Plight of the German People and the Empire” (known also as the “Ermächtigungsgesetz”, Enabling Act) the powers to authorize public borrowing are transferred from the German parliament (“Reichstag”) to the government.

1937

The “Depotgesetz” (Law on the Deposit and Acquisition of Securities) allows the creation of financial institutions for the collective clearing and depositing of securities which enables securities to be issued at low cost and quickly in the form of debt register claims (loan stock rights not evidenced by certificates).

1938

With the introduction of the Hollerith punched card system the proportion of securities issued in non-certificate form increases enormously.

3 February 1945

Most of the debt register files at the National Debt Administration building in the Oranienstrasse are destroyed during an air raid.

1 June 1945

The government property bureau assigns the National Debt Administration a building in the Berlin Grunewald district.

17 January 1946

Public Debt Administration is placed under the control of the Allied Military Command.

March 1948

The Reich Public Debt Administration in Berlin is renamed “Verwaltungsgruppe für Archive der ehemaligen Reichsschuldenverwaltung” (Administrative Group for Archives of the Former National Debt Administration).

13 July 1948

With the passing of the “Law on the Creation of a Debt Administration for the Unified Economic Area” the “Schuldenverwaltung des Vereinigten Wirtschaftsgebietes” (Debt Administration of the Unified Economic Area) is set up, based in Bad Homburg v.d.H., as the smallest of the bizonal administrative offices (three senior officials).

One of its first major tasks later is the implementation of the London Debt Agreement (1953).

13 December 1949

Under the “Ordinance on the Administration of the Public Debt of the Federal Republic of Germany”the administrative body is given the new name of “Bundesschuldenverwaltung” (“BSV”, Federal Debt Administration) and is transferred to the jurisdiction of the Federal German Government.

1 April 1951

The Federal German Government takes over jurisdiction of the “Verwaltungsgruppe für Archive der ehemaligen Reichsschuldenverwaltung” inBerlinand places it under the control of the BSV under the name “Archiv der Bundesschuldenverwaltung” (Federal Debt Administration Archive).

1 April 1955    

The BSV Archive is renamed “AussenstelleBerlinder BSV” (Berlin Branch Office of the BSV).

1958

The authority assumes responsibility for the regulation of internal old debt under the “Allgemeines Kriegsfolgengesetz” (General Consequences of War Act). For this purpose a bureau is set at up at the Platz der Luftbrücke in Berlin-Tempelhof.

The Federal Debt Administration is assigned responsibilities in connection with coins (sales office for collector’s coins).

1969

Introduction of retail business with the issuance of the first Type A Federal Savings Note (“Schatzbrief”). This is followed by the Type B Federal Savings Note in the same year, Federal Treasury financing paper (“Finanzierungsschätze”) in 1975, and five-year Federal Notes (“Bundesobligationen”) in 1979.

Beginning of 2000

On the basis of an appraisal by an external consultant the Federal German Government resolves to transfer the principal debt management functions to a government-owned private limited company (“GmbH“).

19 September 2000

The Bundesrepublik Deutschland - Finanzagentur GmbH (German Finance Agency), based in Frankfurt am Main, is founded by adoption of its articles of association.

11 June 2001

The German Finance Agency commences its operations in the money market. The company’s first managing directors are Dr. Peter Jabcke and Gerhard Schleif (for a list of all managing directors until 2013 click HERE).

1 January 2002

Under the “Law for the Reform of the Debt Register Law of the Federal Republic of Germany and the Legal Principles for the Administration of German Government Securities (“Bundeswertpapierverwaltungsgesetz”, Federal Securities Administration Act) the Federal Debt Administration becomes a higher federal administrative authority within the area of responsibility of the Federal Ministry of Finance under the new name “Bundeswertpapierverwaltung” (“BWpV”, Federal Securities Administration). The law creates powers to delegate principal debt management functions within the area of responsibility of the BWpV to the German Finance Agency.

1 January 2006

The Federal Ministry of Finance assigns the distribution of collector’s coins as from1 January 2006to a private service provider (Deutsche Post AG, Philately Division).

12 July 2006

The “Law for the Modernization of Federal Government Debt Management” (“Bundesschuldenwesenmodernisierungsgesetz”) provides for all the government debt functions previously performed by the BWpV to be transferred completely to the German Finance Agency and for the BWpV to be wound up as of31 July 2006.

1 August 2006

The winding up of the BWpV and the integration of its functions into the German Finance Agency creates debt management “from one source”.

1 July 2008

After more than thirty years the German Government widens its product offering for private investors with the introduction of the Day Bond (“Tagesanleihe”). Further steps to reposition the retail business in German Government securities are due to follow in the coming years.