SoFFin - Bundesanstalt für Finanzmarktstabilisierung: Startseite

Germany’s Federal Agency for Financial Market Stabilisation (FMSA) is a Federal public-law agency with legal personality which reports to the Federal Ministry of Finance. The Finance Ministry therefore exercises legal and administrative supervision of the FMSA, which is located in Frankfurt am Main.

The FMSA manages the Restructuring Fund and collects the bank levy. In addition, it manages the Financial Market Stabilisation Fund (Sonderfonds Finanzmarktstabilisierung (SoFFin)) and oversees two resolution agencies, the "Erste Abwicklungsanstalt" and "FMS Wertmanagement", established under the FMSA’s aegis as a "bank within the bank". Once resolution is complete, the FMSA will wind up the resolution agencies.

Management Committee

The FMSA is headed by a three-member Management Committee. This committee decides on Restructuring Fund measures and submits proposals for decision to the Steering Committee. When transferring the systemically important part of an institution to an existing bank or a bridge bank to be created by the FMSA, the Steering Committee must give its approval if this involves Restructuring Fund measures.

Steering Committee

The Steering Committee also takes decisions, based on proposal by the Management Committee, regarding stabilisation assistance, policy issues, matters of particular importance or conditions for financial corporations regarding SoFFin assistance measures.

The Steering Committee has a delegate from each of the following agencies

• Federal Chancellery (chair)
• Federal Ministry of Finance
• Federal Ministry of Justice
• Federal Ministry of Economics and Technology
• and a delegate representing the Federal states.

A Deutsche Bundesbank delegate belongs to the Steering Committee in an advisory capacity. The Committee may add further advisors (e.g. delegates from the Finance Agency or KfW).

Financial-Market Stabilisation Fund Panel

Moreover, the members of the Financial-Market Stabilisation Fund Panel, or Financial Market Panel (Gremium zum Finanzmarktstabilisierungsfonds (Finanzmarktgremium)) exercise parliamentary control over the Restructuring Fund, SoFFin and the FMSA. The Panel may invite members of the Management and Steering Committees to attend its meetings. Nine members of the Bundestag (lower house) are elected to the Financial Market Panel.

The members of the panel are

• Florian Toncar (FDP, chairman)
• Bartholomäus Kalb (CSU, deputy chairman)
• Ralph Brinkhaus (CDU)
• Roland Claus (The Left)
• Klaus-Peter Flosbach (CDU)
• Dr. Gerhard Schick (The Greens)
• Georg Schirmbeck (CDU)
• Carsten Schneider (SPD)
• Dr. Carsten Sieling (SPD)