The June 2021 edition of the Bundesbank’s Monthly Report outlines the outlook for the German economy for 2021 to 2023 and analyses how the central bank’s asset purchases increase the sensitivity of government finances to interest rate changes. It also features an article on central government debt and why interest payment premiums should be booked on an accrual basis, while, on the topic of local government debt, a further article discusses how local government budget imbalances can be avoided and cash advances limited.

The July 2021 edition of the Bundesbank’s Monthly Report features an article on cross-border corporate takeovers and the impact of internationalisation on firms in Germany. Furthermore, crypto-tokens and decentralised finance apps are outlined and digital risks in the banking sector discussed. In addition, the connection between macroprudential policy and Growth-at-Risk is analysed.

The Deutsche Bundesbank has presented a balanced result for the year 2021. As in the previous year, the Bank is not transferring any profit to the Federal budget. Explaining this decision, Bundesbank President Joachim Nagel said it was necessary to further increase the risk provisions on account of the emergency monetary policy measures taken to counter the impact of the pandemic

The September 2021 edition of the Monthly Report outlines the Eurosystem’s monetary policy strategy and analyses the influence of its monetary policy on bitcoin and other crypto tokens. In addition, it discusses the performance of German credit institutions in 2020.

The March 2014 edition of the Monthly Report describes the shadow banking system in the euro area and its monetary policy implications. In addition, the German balance of payments in 2013 is reconsidered and it comments on the vulnerability to crises of the manufacturing enterprises in Germany.