The VAB focus on representing the interests of foreign banks, funds and other financial services institutions in Germany concerning specific topics and issues involving the German legislature, including the Deutsche Bundestag, the government and the sectorial ministries, the European Commission and European Parliament as well as supranational institutions. Furthermore, VAB is the link between its members to several supervisory authorities and the administration, i.e. the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin), the Deutsche Bundesbank, the tax authorities and further authorities at the federal and local level.
VAB advises by supplying economical and judicial know-how and especially offers the view from abroad to the German Financial Market by informing the headquarters view of its members concerning the current topics in Germany. VAB is the contact for members of parliament, ministries, administration and the media as well as for the public.
Additionally, VAB considers itself as a service provider for its members. It is equally the contact and advisor on policy issues and offers a well-connected network.
Therefore, the range of services of VAB comprises the following services:
VAB assists members with a wide range of information on current topics by offering:
- personal information available at the Association’s office
- A member zone of the VAB-web-portal
- Summary of the current European and national developments and activities in a monthly newsletter in English and German.
- Organisation of working- and project-groups which set the course for lobbying activities and provide opportunities for networking
- Organisation of seminars for specific advanced training of the employees of the member institutions and for a mutual exchange
As most of our Members have limited capacity available to clarify general questions and issues the VAB is able to offer support as “Know-How-Panel” e.g.:
- Extensive information
- Forum for discussion and Best-Practice-approach in the working- and project-groups
- Inter-company exchange of views via VAB-network
- Background information on political and economic questions
VAB is the contact for policy makers in Berlin for the interests of the international financial community in Germany. It takes a stand on draw law, directives and regulations. It attends consultations of the Deutsche Bundestag as the representative of its members. It clears cross-company questions for its members with regulators and administration and tries to ensure legal certainty and to find acceptable solutions.
The activities of the VAB are specifically targeted to:
- EU Commission and EU Parliament
- Federal Government and ministries
- German Federal Parliament and Federal Council
- Federal state governments
- Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht BaFin) and the Deutsche Bundesbank and its subsidiaries)
- Tax authorityies on the federal and local level
The VAB networks with other associations with a similar purpose in different EU states. It is closely connected in Germany with the other financial associations – such as Association of German Banks and the association of DK (Deutsche Kreditwirtschaft), BVI and DDV.