The Bundesbank has posted a profit of €2.2 billion ($3.1 billion) in 2010 compared with €4.1 billion in 2009.
The fall in the profit, paid in full to the federal government on Tuesday, was the result of increased risk provisioning, which accounted for €1.6 billion of the dip, said Axel Weber, the departing chairman of the central bank.
"It was necessary to increase risk provisions, particularly with regard to the marked rise in holdings of risk-bearing assets in the wake of the financial crisis,
- Trump criticises Fed over rate rises and threatens higher tariffs
- Implementation of new Sofr rate is “ahead of schedule”, says Fed vice-chair
- Central bank digital currency a ‘terrible idea’, US Congress told
- MAS strengthens use of data to combat financial crimes
- Philippines considers boosting central bank capital