The computational processing of a neural system is strongly in#uenced by the dynamical characteristics of the information transmission between neurons. In this work, the control of neural information transmission by synaptic dynamics is investigated by means of a masterequation-based stochastic model of pre-synaptic release of neurotransmitter-containing vesicles. The model incorporates facilitation of vesicle fusion with the pre-synaptic membrane due to intracellular calcium ions and depletion of readily releasable vesicles. The message to be transmitted is coded by the pre-synaptic "ring sequence, and the received signal corresponds to the post-synaptic membrane potential response. At the sending end, the stochastic character of the vesicle release contributes to the entropy of the probability distribution of the number of vesicles released and represents noise with respect to information transmission. At the receiving end, the generation of post-synaptic membrane potentials is in#uenced by the temporal behaviour of ionic currents and membrane charging and is determined by means of a lowdimensional model. The rate and temporal types of neural coding are compatible with limiting cases of the synaptic information transmission as a function of initial vesicle release probability and pre-synaptic "ring rate. The e!ects of the nonlinear dependencies of the vesicle release probability on intracellular calcium concentration and number of available vesicles are analysed. The model is compared with phenomenological and reduced models, a principal advantage being the capability of also determining #uctuations of dynamic variables 2002 Academic Press