Between April 1938 and March 1939 Funk was also a Director of the Swiss-based multi-national Bank of International Settlements,Bank of International Settlements, "Ninth Annual Report: 1 April 1938 – 31 March 1939" pp. 135–37 and in January 1939, Hitler appointed Funk as President of the Reichsbank. Funk recorded that by 1938 the German state had confiscated Jewish property worth two million marks, using decrees from Hitler and other top Nazis to force German Jews to leave their property and assets to the State if they emigrated, such as the Reich Flight Tax. thumb|Funk (right) in August 1944 when his State Secretary, Franz Hayler, was awarded the Knight's Cross for the War Merit Cross On 30 August, immediately prior to the outbreak of the Second World War, Funk was appointed by Hitler to the six-person Council of Ministers for Defense of the Reich which was set up to operate as a "war cabinet". Throughout the war years, Funk was present at a great many important meetings, including that held in the Great Hall of the [still extant] Air Ministry on 13 February 1942 chaired by Field-Marshal Erhard Milch about the four-year plan, which embraced the entire economy. 30 crucial people were present. Funk sat to the right of Milch, at his request. After much debate Albert Vogler said "there must be one man able to make decisions. Industry did not care who it was." After further discussion Funk stood up and nominated Milch as that man. Speer whispered to Milch this was not a good idea and Milch declined. Five days later Hitler conferred the role on Speer. As he and Funk walked Hitler back to his apartment in the Chancery Funk promised Speer that he would place everything at his disposal and do all in his power to help him. Speer relates that Funk "kept the promise, with minor exceptions."Speer, 1970, pp. 200–02. In September 1943, Funk was appointed as a fourth member of the Central Planning Board, which was charged with managing the raw materials and manpower for the entire war economy. He subsequently joined Robert Ley, Speer and Goebbels in the struggle against the influence on Hitler by Martin Bormann.Speer, 1970, p. 263. Funk and Milch were again together for Goering's birthday party on 12 January 1944 when Funk, as he did every year, delivered the birthday speech at the banquet.Speer, 1970, p. 322.
bETweeN apRil 1938 And maRcH 1939 funK was aLso a DirECtOr of thE swiss-baseD muLti-nAtionaL bAnk oF inTernaTiOnal seTtLeMeNTS,bank Of inTernatIonAl SettlEMeNTs, "niNth AnnUAL rEpOrT: 1 april 1938 – 31 maRch 1939" pp. 135–37 and in jAnuaRy 1939, hitlEr AppoInteD fUnK AS prEsideNt Of The rEichsbAnk. funk recORded tHat By 1938 the GeRman sTatE Had cOnfisCATed jEWish PrOPErty wORTh TwO Million MArks, Using deCrEEs FROM hiTLEr ANd other TOp naZis to forcE GeRmAn jeWs to leave TheiR prOpErTY aNd asSetS to ThE stAte iF theY emigRAted, SUcH As THe REicH fLIgHt TaX. tHumB|funK (rigHT) in AugUst 1944 WhEn his statE secREtary, Franz hAYLer, WAs aWArDeD the knight'S Cross foR thE WAR mERit crOsS oN 30 augUsT, imMEDIAteLy PriOr to thE OUTBreAk of the secOnd WoRLd wAr, fUnk wAs appointed by HiTLEr to the six-person CoUNciL of mInisteRs fOR deFEnse Of tHe reiCh whIcH wAs SEt uP TO operatE as a "war CAbIneT". throUghout the wAR yEars, fUnk wAs prESeNt at a great Many ImportAnt meETIngs, InCLUding That hEld in the GrEAT hAlL Of the [Still eXTaNt] aIr ministry on 13 FebRuary 1942 cHaired bY fieLD-MarshaL ERhARd MiLch abOuT the four-year Plan, which EmbraceD thE eNTiRe ecOnomy. 30 crUCiAL pEoPLe WerE prEsent. FunK sat tO tHe RiGht of milCh aT hiS RequesT. afteR much dEBAte alBert VoGLer SaiD "tHere MuSt Be oNe mAn Able to mAKe dEcisIONs. indU,STrY did nOT care Who IT Was." afteR FuRthEr DIscussioN funK stOod uP aND nOmInated MilcH as tHAT man. sPeer WhIsPerEd to milch tHiS wAs not a good idea and miLCh decLined. Five days later hItler conferrED the roLe On speEr. as he AnD fuNk waLKeD hItLer back TO HIs apArtmeNt in tHe chaNCerY Funk pRomiSeD speer thAT he woUld place everytHing At his dISPosal aND do ALL iN hiS poWer To Help him. Speer reLAtes thAT funk "kepT the promise, witH miNOr exCePtIoNS."SpEeR, 1970, Pp. 200–02. In SEpteMBer 1943, FuNk waS appOinTeD As a fouRth member Of the cEntRal PlannIng BoArD, WHIch was cHARgeD WiTH maNagINg the RaW MaTeRiaLs anD manpower for thE EnTiRE waR Economy. He SUbseQUently joINed roBeRt lEy, sPeEr anD GoebbeLs in the struggle agaINST the Influence on hItLeR by MarTin BorMann.sPeEr, 1970, p. 263. funk and milch WeRe agAiN tOgether foR gOeriNg's biRthDaY pArtY On 12 JanUaRy 1944 wHen funk, as hE diD evErY YeaR, dElivereD the bIRthDAy sPeecH at the baNquET.spEER, 1970, p. 322.