Stripping

Stripping, the separate trading of the registered interest and principal of securities, has been possible in the case of certain ten and 30-year Federal bonds since the middle of 1997. All newly issued ten-year and 30-year bonds have their coupon date on 4. January, 4. July or 4. September and are strippable.

The minimum amount possible for stripping is Euro 50,000. The separation of interest and principal is undertaken on behalf of the bond holder by the body (credit institution or German Finance Agency) carrying the safe custody account concerned. The reconstruction of the original bond, the underlying bond, from the coupon strip and the principal strip is also possible; however, only credit institutions, financial service institutions, securities trading firms and securities trading banks may do this with their own bond holdings. The minimum nominal amount of both the principal and coupon strips is Euro 0.01. Coupon strips with the same maturity are combined and traded under one security identification number.

The following documents contain an overview of strippable bonds, the maximum possible volumes of principal and coupon strips and data on the usage of stripping.

Principal strips and coupon strips in the case of Federal bonds

• Coupon date: 4 January
• Coupon date: 4 July
• Coupon date: 4 September

Stripping of Federal bonds

Volume of stripping 2012

• Position: 31 January 2012

Volume of stripping 2011

• Position: 30 December 2011
• Position: 30 November 2011
• Position: 31 October 2011
• Position: 30 September 2011
• Position: 31 August 2011
• Position: 29 July 2011
• Position: 30 June 2011
• Position: 31 May.2011
• Position: 29 April 2011
• Position: 31 March 2011
• Position: 28 February 2011
• Position: 31 January 2011

Volume of stripping 2010

• Position: 31 December 2010
• Position: 30 November 2010
• Position: 31 October 2010
• Position: 30 September 2010
• Position: 31 August 2010
• Position: 30 June 2010
• Position: 31 May 2010
• Position: 30 April 2010
• Position: 31 March 2010
• Position: 26 February 2010
• Position: 29 January 2010

Volume of stripping 2009

• Position: 31 December 2009
• Position: 30 November 2009
• Position: 30 October 2009
• Position: 30 September 2009
• Position: 31 August 2009
• Position: 31 July 2009
• Position: 30 June 2009
• Position: 29 May 2009
• Position: 30 April 2009
• Position: 31 March 2009
• Position: 27 February 2009
• Position: 30 January 2009

Volume of stripping 2008

• Position: 31 December 2008
• Position: 28 November 2008
• Position: 31 October 2008
• Position: 30 September 2008
• Position: 29 August 2008
• Position: 31 July 2008
• Position: 30 March 2008
• Position: 30 May 2008
• Position: 30 April  2008
• Position: 31 March 2008
• Position: 29 February 2008
• Position: 31 January 2008

Volume of stripping 2007

• Position: 31 December 2007
• Position: 30 November 2007
• Position: 31 October 2007
• Position: 28 September 2007
• Position: 31 August 2007
• Position: 31 July 2007