We fund Germany.

The Federal Republic of Germany - Finance Agency (Finance Agency) is responsible for the Federal government's debt management, borrowing and cash management. It manages the Financial Market Stabilisation Fund (FMS) as well as the Economic Stabilisation Fund (ESF).

The Federal Republic of Germany - Finance Agency (Finance Agency) is the central service provider for the Federal Government’s financial market activities and the administrator of the special funds for financial market and economic stabilisation. The sole shareholder of the Finance Agency is the Federal government, represented by the Federal Ministry of Finance. Around 300 employees work at the company’s headquarters in Frankfurt am Main.

Our task is to ensure the Federal government’s funding via the financial markets at all times and to optimise it in terms of cost and risk. To this end, we issue Federal securities, conduct money market and derivatives transactions, and thereby manage the Federal government’s debt portfolio and capital market presence.

The Finance Agency manages the Economic Stabilisation Fund (ESF), which was established in 2020 in the wake of the coronavirus pandemic to strengthen the German real economy, as well as the Financial Market Stabilisation Fund (FMS), which the Federal government set up in 2008 to tackle the financial market crisis. It is also responsible for coordination and supervisory tasks at the winding-up agencies FMS Wertmanagement (FMS-WM) and the Erste Abwicklungsanstalt (EAA).

Milestones in Our Recent Corporate History

The privately organised structure enables Finance Agency to react directly to changing requirements of the financial markets and the Federal government. Since its foundation in 2000 as an institution for government borrowing and debt management, the Federal government has continuously entrusted Finance Agency with additional tasks.

Our History
January 2026

Assumption of partial tasks of FMSA

September 2022

ESF ends stabilisation of Deutsche Lufthansa AG

November 2021

FMS ends stabilisation of pbb Deutsche Pfandbriefbank

September 2020

First green Federal security issued

As of July 2020

Refinancing of KfW special programmes

March 2020

ESF should strengthen the real economy