Discount interest rates

The Act to Modernise Accounting Law (Gesetz zur Modernisierung des Bilanzrechts or BilMoG) came into force on 29 May 2009. Among other things, this Act stipulates that provisions with a residual maturity of more than one year are to be discounted at the average market interest rate of the last seven financial years corresponding to their residual maturity. The Deutsche Bundesbank has the task of calculating these discount interest rates and publishing them on a monthly basis. The method of calculation and publication details are set forth in the Regulation on the Discounting of Provisions (Rückstellungsabzinsungsverordnung or RückAbzinsV), which is available (in German only) on the Federal Ministry of Justice's homepage.

The discount interest rates and the zero coupon euro swap curve, which serves as the basis for calculating the discount interest rates, are shown in tables and time series.

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