# Savings certificates

- Canonical URL: https://www.gerhardmerk.de/savings-certificates-2
- Post ID: 589690
- Modified: 2023-07-25T21:12:08+00:00
- Language: en

## Definition

Debt securities issued by banks which can be purchased by investors for a fixed, non-callable term - predominantly four to eight years - at a usually fixed interest rate (certificate of deposit for a specific sum of money for a fixed time and usually at a stated interest rate). There is no stock exchange trading. Savings certificates with a maturity of up to two years are counted as M2 by the ECB; if the maturity is longer, they belong to M3. - Savings certificates no longer appear as a separate item in the ECB's statistics. If they are registered securities, they are included in deposits with agreed maturity. If they are non-negotiable bearer bonds, they are included in bank debt securities. - In the statistical section of its respective monthly report, the Deutsche Bundesbank reports savings bonds separately according to their issue value at inception, broken down by issuer group. - See deposits, maturity transformation, savings bulge, savings premium bond, savings bond. - Cf. the Bundesbank's monthly booklet "Banking Statistics," section "Banks (MFIs) in Germany," subheading "Liabilities" for the volume of savings bonds issued. 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/

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