BAKredBundesaufsichtsamt für Das Kreditwesen
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Rather, BaFin consists of three directorates that deal with sector-specific regulation and thus perform the roles of the former three independent supervisory offices: BaKred, BaV, and BaWe.
About three weeks ago we asked a third party to carry out a special audit of the larger Kirch banks,' said Uwe Traber of BaKred.
The association's top managers, Manfred Weber (a Bundesbank veteran who served as an aide to former Bubba President Schlesinger) and Wolfgang Arnold led the opposition against the Bundesbank move to take over BAKred, the bank supervisory agency that had just moved from Berlin to Bonn.
A take-over of BAKred by the Bundesbank would cause a lot of regional interference in bank supervision from the politically linked LZB branches.
For this reason, he failed to secure broad support from the Lander for his ambitious plan to bring the BAKred under the roof of the Bundesbank.