News: 106th Finance Soldiers visit Germany’s central bank
Story by 1st Lt. Henry Chan
FRANKFURT AM MAIN, Germany – Six Soldiers from the 106th Financial Management Support Unit, 16th Sustainment Brigade worked with German bankers to further their understanding of world economics Jan. 31.
On this day, the Soldiers dressed in fitted suits instead of their normal combat uniforms and met with representatives from the Deutsche Bundesbank, or the German Federal Bank.
The DBB is the central bank in Germany and one of the most influential European System of Central Bank members. It is also one of the note printing banks for the Euro currency.
Like the DBB, the 106th Financial Management Support Center also has a vital job for European-based U.S. troops.
As the only U.S. sustainment brigade stationed in Europe, the 16th SB conducts essential support missions. In turn, the subordinate 106th FMSU supports all U.S. military financial activities in Germany, Italy and Romania.
With their visit to the DBB, the finance Soldiers intended to understand the economic indicators of growth and recession for emerging markets and developing countries. The tour provided an overview of interactions with the International Monetary Fund and European Central Bank.
“U.S. Army finance officers are expected to be able to advise commanders on economic situations affecting their battlespace,” said 1st Lt. Adam Newberry, deputy disbursing officer for the 106th FMSU. “These topics revolve around the U.S. Army Finance community when working in developing countries and improving host-nation financial systems.”
“By the end of the day, I gained a greater understanding of the Deutsche Bank and Federal Financial Supervisory Authority,” said 1st Lt. Vernon Wall, executive officer for the 106th FMSU.
“Our German partners were tremendous hosts. The instructors were clearly experts in their field and provided detailed insight into the European and German banking apparatus,” said 1st Lt. Justin Schortmann, disbursing officer from the 266th Financial Management Support Center in Kaiserslautern, Germany.
“Being able to more thoroughly understand these topics through both bank professionals and the international prospective is a very valuable addition to the knowledge base of U.S. Army finance officers,” said Newberry.