ABSTRACT
The major West European countries participating in the war had already set up their own national reconstruction banks. The Kreditanstalt fÜr Wiederaufbau (KfW) became entitled to give loans to finance West German exports, a measure which significantly improved German competitiveness on world markets. The whole US-banking policy in Germany was at risk if the bill was to be passed or if the former Reichsbank personnel who worked for the British were allowed to continue their work. British policy had been agreed upon in principle by the ministries involved as early as 1944. Informing the Länderrat about a piece of legislation in preparation before the Executive Committee itself discussed it was a normal part of the Bizonal legislative process. People like Hermann Josef Abs with their enormous international experience and connections are hardly surprising that the first action taken by the KfW's executive was to try to achieve independence from the Allies.
