# German federal securities

- Canonical URL: https://www.gerhardmerk.de/german-federal-securities
- Post ID: 588598
- Modified: 2023-07-25T20:59:49+00:00
- Language: en

## Definition

The Federal Republic of Germany Finance Agency GmbH offers standard and special securities to investors around the world. - The standard products denominated in EUR, which are generally issued via an auction procedure, include - Federal Treasury notes (Schätze; German federal treasury obligations) with a maturity of two years, - Federal notes (Bobls; German federal bonds) with a maturity of five years, - Federal bonds (Bunds; federal bonds) with a maturity of ten to thirty years, and - Non-interest-bearing Treasury notes (Bubills; German treasury discount papers), which are issued with a maturity of six or twelve months when newly issued. - At the end of each year, the Federal Government publishes an issuance calendar for the following year. In it, the issue dates and the issue amounts are announced. This pre-announcement is supplemented on a quarterly basis by a detailed issuance calendar with exact dates. To date, the Swiss government is the only issuer in the world to offer investors such detailed information. - Special products currently include - USD-denominated bonds and - inflation-indexed bonds. - German Government securities have the narrowest bid-ask spreads in Europe; hedging costs are minimal; liquidity, in the sense of being able to sell at any time, is high; market management by Bundesrepublik Deutschland Finanzagentur GmbH, even at the time of the financial crisis that followed the subprime crisis, is considered exemplary. - See issuance, continuous issue, Euromarket, European Debt Agency, jumbo bond, tap, sale, private treaty. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

- Generator: Merk Knowledge 1.1.1