Bundesbank gives up on renovating old headquarters
Bank to buy new HQ as renovation and maintenance would have cost too much
The Deutsche Bundesbank is moving to a new location in Frankfurt and ditching plans to move back into its old headquarters.
The bank said on March 11 that the costs associated with renovating its current, empty offices would have amounted to €1.6 billion ($1.83 billion), with another €1.3 billion in additional operational and maintenance costs up to 2067.
Calculated this way, the current location had “performed the worst” in the bank’s cost-efficiency assessment, and it was now seeking to buy a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Organisation
Riksbank’s Seim: helping foreign central banks has ‘major’ impact
Deputy governor says institution is working with its Palestinian and Ukrainian counterparts
Czech National Bank restructures monetary department
Bank abolishes external economic relations division, launches ‘international organisations unit’
Austrian authorities to co-operate on cyber security
Central bank signs accord with ministry and financial regulator to strengthen collaboration
Netherlands Bank aims to cut costs by 10% with spending freeze
DNB 2030 programme will involve job losses, spokesperson says
New Zealand central bank proposes cutting fifth of staff
RBNZ’s plan follows government’s announcement of 25% reduction in funding earlier this year
Will Fed’s HQ cost overruns be enough for Trump to fire Powell?
Chair’s defenders say administration wants to use renovations bill as pretext for his removal
MNB governor signs co-operation agreement with PBoC
Hungary can “especially” rely on Asian partners amid global uncertainty, Varga says
Hungary’s central bank publicly clashes with opposition leader
MNB says unnamed politician failed to comply with inquiry; Tisza head says he is target of smears