On 2 September, 2020, the Federal government issued its first green federal security. The issue of the first 10-year green Federal bond was followed by the first green Federal note and, in 2021, the first 30-year and the second 10-year Federal bond. Following a total issuance volume of € 11.5 bn in 2020 and € 12.5 bn in 2021 (in each case around 1 % of the annual issuance volume), green Federal securities are to be further expanded in 2022.
As in the past, the issues can be carried out using both the syndicate procedure and the established auction procedure. At the time of issuance of the green security, the volume of the conventional twin bond will be increased by the same amount, but will remain in the Federal government's own holdings.
Bid/Cover ratio: Ratio of volume offered to volume allocated