Issuance Outlook of the Federal Government for 2025

The issuance plan of the Federal government for 2025 has been published.

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Green Federal Securities

The impact report for green Federal securities 2022 was published on 4 November 2024.

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Economic Stabilisation Fund

On 15 May 2024, the 2023 financial statement of the ESF was published.

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Financial Market Stabilisation Fund

On 28 June 2024, the 2023 financial statement of the FMS was published.

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  • Federal Bond 10 Years
  • 2.54 %20.01.2025
  • 2.53 %17.01.2025

For the Federal Government at the Financial Center Frankfurt Targets and Objectives

Debt management from a single source: For the Federal government as the benchmark issuer in the euro area, the Finance Agency ensures the most cost-effective and low-risk financing possible.

It was founded specifically for this important task. Today, its field of activity has expanded to include tasks for financial market stabilisation and economic stabilisation.

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Issuance Calendar
Issuance Calendar 2025

The Federal government has announced its issuance calendar for 2025 on 17 December 2024.

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Reports
Federal Government Borrowing Report

The Federal Ministry of Finance's report on federal borrowing in 2023 was published on 23 October 2024 (in German language).

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Issuance Calendar
Issuance Outlook Q4

The Federal government announced its updated issuance outlook for the fourth quarter of 2024 on 18 September 2024.

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Syndicates
Syndicate Green Federal Bond

The Federal government successfully reopened the 1.80% Green Federal Bond 2023 (2053) via syndicate on 4 June 2024.

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Green Securities
Multi-ISIN-Auction Green Bonds

The first multi-ISIN auction of two green Federal securities was successfully carried out on 23 January 2024. The 1.30% Green Federal note 2022 (2027) and the 1.80% 30-year Green Federal bond 2023 (2053) were issued.

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Issuance Calendar
Publication of issuance plan 2024

The Federal government has published its issuance planning for 2024 on 19 December 2023.

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Issuances
Federal government discontinues programme for inflation-linked bonds

The Federal government has decided to withdraw from the market for inflation-linked bonds: From 2024, no further inflation-linked Federal securities will be issued, nor will already outstanding securities be reopened.

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Auctions of Federal Bonds

Upcoming Auctions

N: New Issue    R: Reopening

DateIssuanceVolumeCouponMaturity
21.01.2025 Bobl/g (R)
DE000BU35025 		1.0 € bn 2.10% 12.04.2029
21.01.2025 Bund/g (R)
DE000BU3Z005 		1.0 € bn 2.30% 15.02.2033
22.01.2025 Bund (R)
DE000BU2F009 		1.5 € bn 2.60% 15.05.2041

N: New Issue    R: Reopening

DateIssuanceVolumeCouponMaturity
27.01.2025 Bubill (N)
DE000BU0E253 		2.0 € bn - 10.12.2025
03.02.2025 Bubill (R)
DE000BU0E204 		2.0 € bn - 20.08.2025
17.02.2025 Bubill (N)
DE000BU0E261 		3.0 € bn - 18.02.2026

Recent Issuances

N: New Issue     R: Reopening     A: Allotment     B: Bids

DateIssuanceBid/CoverVolumesYield
15.01.2025 Bund (R)
DE000BU2D004 		2.8
(A)
(B)
 2.84%
15.01.2025 Bund (R)
DE0001102614 		2.6
(A)
(B)
 2.84%
14.01.2025 Bobl (N)
DE000BU25042 		2.5
(A)
(B)
 2.42%

N: New Issue     R: Reopening     A: Allotment     B: Bids

DateIssuanceBid/CoverVolumesYield
20.01.2025 Bubill (R)
DE000BU0E162 		2.4
(A)
(B)
 2.5751%
20.01.2025 Bubill (R)
DE000BU0E220 		4.2
(A)
(B)
 2.375%
13.01.2025 Bubill (N)
DE000BU0E246 		3.2
(A)
(B)
 2.4019%

Our Tasks

Overview
Debt Statistics
  • Debt level
  • Borrowing needs
  • Redemptions
  • Interest rates

Statistics on the Federal Funding - graphically presented and up-to-date.

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Types of Federal Securities
Federal Securities

Federal securities are available for almost every investment period. They are regularly issued with original maturities ranging from 1 to 30 years. Some Federal securitites offer additional protection against inflation, others coverage of green spending in the Federal budget.

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ESF
Economic Stabilisation Fund

The Economic Stabilisation Fund (ESF) was able to cushion the impact of the Corona pandemic on the national economy. It manages several recapitalisation measures for companies in the real economy and loans to the Kreditanstalt für Wiederaufbau (KfW).

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FMS
Financial Market Stabilisation Fund

With assistance of the Financial Market Stabilisation Fund (FMS), the German banking sector was supported during the financial market crisis. Today, the special fund manages the Federal government's shares in Commerzbank as well as other capital measures.

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Your Career Start with us

Career
Working at the Finance Agency

For experienced professionals, students and graduates, debt management and stabilisation measures offer interesting entry opportunities and development prospects.

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Press Releases

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Download Center

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Newsletter

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