Discount interest rates
Pursuant to section 253 (2) of the German Commercial Code
Section 253 (2) of the German Commercial Code stipulates that provisions with a residual maturity of more than one year are to be discounted at the average market interest rate corresponding to their residual maturity. This rate is based on the past ten financial years for provisions for pension entitlements, and the last seven financial years for other provisions. The Deutsche Bundesbank calculates these discount interest rates and publishes 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 on the Federal Ministry of Justice's website.
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.