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In mathematics, the infinite series 1 / 2 + 1 / 4 + 1 / 8 + 1 / 16 + ··· is an elementary example of a geometric series that converges absolutely. The sum of the series is 1.
The Auditing Association of German Banks (German: Prüfungsverband deutscher Banken e.V., PdB), established in 1969 in Cologne, is a sister entity to the BdB and is tasked with assessing the risk of each participating BdB member which feeds into the calculation of EdB and ESF deposit guarantee fees. It is led by a 3-members management board.
Banking in Germany is a highly leveraged industry, as its average leverage ratio (assets divided by net worth) as of 11 October 2008 is 52 to 1 (while, in comparison, that of France is 28 to 1 and that of the United Kingdom is 24 to 1); its short-term liabilities are equal to 60% of the German GDP or 167% of its national debt.
The Bank deutscher Länder was established in 1948 in the former Frankfurt branch of the Reichsbank, Taunusanlage 4–6, built in 1933 [1] The Bank deutscher Länder (BdL, lit. ' Bank of the German States ') was a central bank established in 1948 to serve West Germany, issuing the Deutsche Mark. It was replaced in 1957 by the Deutsche Bundesbank.
As of end-2021, the group included 342 local cooperative banks (Raiffeisenbank), 8 regional wholesale banks (Raiffeisenlandesbank), and the central entity Raiffeisen Bank International. [2]: 19 All Raiffeisenlandesbanken are owned by their respective member banks; their legal form is a cooperative (German: eingetragene Genossenschaft, eGen ...
In 2010 agriculture, forestry, and mining accounted for only 0.9% of Germany's gross domestic product (GDP) and employed only 2.4% of the population, [84] down from 4% in 1991. Agriculture is extremely productive, and Germany can cover 90% of its nutritional needs with domestic production.
The Ersparungsclasse der Allgemeinen Versorgungsanstalt, established in Hamburg in 1778, is widely viewed as the first modern savings bank.Other accounts emphasize the significance of the savings bank of Göttingen, founded in 1801, [3]: 78 which was the first established with a municipal guarantor whereas earlier foundations had been initiated by merchants, clerics or academics (Hamburg later ...
With total assets of some 3,029 billion euros, VÖB's member institutions cover approximately one quarter of the German banking market. Public-sector banks view themselves as owing responsibility towards SMEs, other enterprises, the public sector, and retail customers; they are deeply rooted in their respective home regions, all over Germany.