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Yields on debt securities outstanding

Unlike the nominal interest rate, the yield on debt securities outstanding indicates the interest actually received per annum.

In principle, only debt securities with an agreed maturity of more than four years pursuant to the terms of issue are included in the calculation of yields on debt securities. The yields of individual debt securitites are weighted by the amounts outstanding at market prices, using the Bundesbank reference prices or Xetra prices as the basis.

For more information on how yields are calculated, see "Computation of yields" on pp 22-23 of Statistical Supplement 2 "Capital market statistics".