Chronicle of the Legal Foundations of the FMS
Federal Agency for Financial Market Stabilisation (FMSA)
The Federal Agency for Financial Market Stabilisation (FMSA) exercises legal supervision over the deconsolidated environment FMS Wertmanagement (FMS-WM) and Erste Abwicklungsanstalt (EAA). Again, it is itself subject to the legal and technical supervision of the Federal Ministry of Finance. Since 1 January 2018, the FMS has been managed by the Federal Republic of Germany - Finance Agency.
National Resolution Authority (NRA)
As an independently operating division of the Federal Financial Supervisory Agency (BaFin), the National Resolution Authority (NRA) ensures the preservation of financial stability and the protection of public funds: Since 2018, it has been assessing the resolvability of credit institutions and financial groups, drawing up resolution plans, and collecting and administering the bank levy. FMSA was responsible for this task from 2011 to 2017.