Bundestag approves Germany’s Financial Stability Act

Germany's lower house of parliament, the Bundestag, has passed a new law aimed at promoting financial stability in the country.

The new law, Gesetz zur Stärkung der deutschen Finanzaufsicht (Financial Stability Act), will result in the creation of the German Financial Stability Board, tasked with macro-prudential supervision at a national level.

The Deutsche Bundesbank, the Federal Ministry of Finance and the Federal Financial Supervisory Authority (BaFin) will each have three representatives on

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