Federal securities

German Government securities are among the most actively traded and most liquid sovereign debt instruments in the world. They enjoy benchmark status in the eurozone and beyond thanks to their excellent liquidity, the Federal Government's transparent and reliable issuance policy and first-class issuer credit rating.

Investors can choose from a wide range of actively traded securities with extremely low risk and a simple, clear structure. The maturities of German Government securities range from six months up to thirty years. Thanks to the first-class issuer credit rating of the Federal Government and its transparent and reliable issuance policy, investors have placed their trust in German Government securities for decades. In order to further consolidate this unique position, the Federal Government will in future continue to improve its market presence.

More Information

Upcoming auctions

Capital market instruments
Tender Issuance Volume Coupon Maturity
25.10.2017 Bund
DE0001102424
3.0 € bn (R) 0.50 % 15.08.2027
08.11.2017 Bobl
DE0001141760
3.0 € bn (R) 0.00 % 07.10.2022
14.11.2017 Schatz
DE0001104701
5.0 € bn (N) - 13.12.2019
Issuance planning
N: New Issue     R: Reopening
Money market instruments
Tender Issuance Volume Coupon Maturity
13.11.2017 Bubill
DE0001137719
2.0 € bn (N) - 16.05.2018
Issuance planning
N: New Issue     R: Reopening

Recent auctions

Capital market instruments
Tender Issuance Bid/Cover Volumes Yield
18.10.2017 Bund (R)
DE0001102432
1.7
(A)
(B)
1.22 %
17.10.2017 Schatz (R)
DE0001104693
1.3
(A)
(B)
-0.75 %
11.10.2017 Bobl (R)
DE0001141760
1.9
(A)
(B)
-0.26 %
Auction results
N: New Issue     R: Reopening     A: Allotment     B: Bids
Money market instruments
Tender Issuance Bid/Cover Volumes Yield
09.10.2017 Bubill (N)
DE0001137701
2.2
(A)
(B)
-0.73 %
11.09.2017 Bubill (N)
DE0001137693
2.0
(A)
(B)
-0.77 %
14.08.2017 Bubill (N)
DE0001137685
2.4
(A)
(B)
-0.70 %
Auction results
N: New Issue     R: Reopening     A: Allotment     B: Bids