The areas for which the Finance Committee is responsible correspond approximately to the sphere of competence of the Federal Ministry of Finance (BMF).
The committee is in particular responsible for considering the following issues:
- the federal budget
- budget law and the budgetary system
- taxes and levies
- financial relations between the Federation and the federal states
- national and international financial policy (including the banking, insurance and investment sector, the stock exchange and securities).
The Finance Committee is responsible for examining bills that have been drawn up under the aegis of the Federal Ministry of Finance or one of the state Ministries of Finance. The committee is also involved in discussions of other bills if these impinge on the policy areas mentioned above or affect the federal states' budgets.