Inflation-linked Federal Bonds
The annual issuance volume in this segment amounted to € 6.25 bn in 2022 and € 5.1 bn in 2023. In both years, this corresponds to a share of 1 % of the annual issuance volume of all Federal securities.
Four inflation-linked Federal securities with a total volume of € 66.25 bn are currently still outstanding: three bonds with original maturities of around 10 years and one 30-year bond.
Current Outstanding of Inflation-linked Federal Securities
|Total volume||66,250 € mn||-|
|2021 (2033) Bund/€i||15.04.2033||0.10%||10,650 € mn||10.10.2023||DE0001030583|
|2015 (2046) Bund/€i||15.04.2046||0.10%||14,250 € mn||10.10.2023||DE0001030575|
|2015 (2026) Bund/€i||15.04.2026||0.10%||19,200 € mn||07.02.2023||DE0001030567|
|2014 (2030) Bund/€i||15.04.2030||0.50%||22,150 € mn||05.04.2022||DE0001030559|
Reference Index & Indexation Coefficients
The inflation indexation for both nominal value and coupon payments is based on the unrevised Harmonised Index of Consumer Prices (HICP) of the euro area (total index excluding tobacco). This is calculated monthly by the Statistical Office of the European Union ("Eurostat") and published on its website.
The indexation coefficients are computed with a time delay by linear interpolation of the montly values of the reference index.