The Deutsche Bundesbank is the German member of the Eurosystem and has been the monetary authority for Germany from 1957 to 1998, issuing the Deutsche Mark (DM). It succeeded the Bank deutscher Länder, which had introduced the DM on 20 June 1948.

The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The European Central Bank (ECB) has, under Article 16 of its Statute, the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand.