The State Bank of the GDR (German: Staatsbank der DDR) was the central bank of East Germany. It was established on 1 January 1968 from the Deutsche Notenbank and took over the majority of the same tasks.
The State Bank of the G.D.R. was responsible for the administration of the internal account settlement and banking system, the issue of money and control of money circulation within the G.D.R., administration of the exchange control regulations and settlement of foreign currency accounts with overseas companies and governments (Zahlungsverkehr by transfer). In addition, the bank bought and sold financial securities and administered the purchase, sale and holding of precious metals for foreign exchange purposes.
The state bank was also responsible for the account processing of the state institutions and state enterprises, (Volkseigener Betrieb), having at least one main branch in each of the 15 administrative subdivisions of the German Democratic Republic.
Read more about Staatsbank: The Internal Foreign Exchange Rate Regime, Forum Checks, Intershops and Genex, Political Control of The State Bank, Post Reunification, Accommodation, Presidents of The Bank