The Federal Financial Supervisory Authority (German: Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany. It is an independent federal institution with headquarters in Bonn and Frankfurt and falls under the supervision of the Federal Ministry of Finance (Germany). BaFin supervises about 2,700 banks, 800 financial services institutions and over 700 insurance undertakings.
Read more about Federal Financial Supervisory Authority: History, Organization, Responsibilities, Criticism
Famous quotes containing the words federal, financial and/or authority:
“If the federal government had been around when the Creator was putting His hand to this state, Indiana wouldn’t be here. It’d still be waiting for an environmental impact statement.”
—Ronald Reagan (b. 1911)
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“The great problem of American life [is] the riddle of authority: the difficulty of finding a way, within a liberal and individualistic social order, of living in harmonious and consecrated submission to something larger than oneself.... A yearning for self-transcendence and submission to authority [is] as deeply rooted as the lure of individual liberation.”
—Wilfred M. McClay, educator, author. The Masterless: Self and Society in Modern America, p. 4, University of North Carolina Press (1994)