The certificate is signed with the SHA-256 algorithm by the Bundesbank Root CA 2015 II and is valid for six years.

The Bundesbank regularly investigates the payment behaviour of the population in Germany.

It is often said that wage moderation in Germany was the primary cause of the current account imbalances in the euro area that emerged prior to the financial crisis. A new study puts this hypothesis to the test.

Some basic information to help you as you enter the world of work in Germany.

Gaetan talks about his journey to becoming a Bundesbank data warehouse architect and how he takes advantage of the working conditions at the Bundesbank to do his job.

The nominal effective exchange rates of the euro condense bilateral exchange rates against multiple countries into a single index. As an aggregate, they capture changes in euro exchange rates against various groups of currencies of key trading partners.

Alongside the functional documents, there is also information that does not directly relate to the functioning of TIPS. This includes, for instance, the TARGET Services pricing guide.

The auction procedure is used for issuing Federal bonds, five-year Federal notes, Federal Treasury notes and Treasury discount paper. The terms of each Federal security to be issued by auction are published.

There are various documents available explaining how TIPS works, including, amongst others, the Guide for TARGET Participants, the User Detailed Functional Specifications and the user handbooks. These and further documents can be found here.

The statistics on the money markets is on money market transactions, namely on secured, unsecured and certain derivatives money market transactions, concluded by monetary financial institutions (MFIs), with the exception of money market funds.

On the following page you will find charts on various topics from previous publications.

Die Europäische Zentralbank (EZB) hat heute harmonisierte Regeln und Vereinbarungen zur Mobilisierung und Verwaltung von notenbankfähigen Sicherheiten für geldpolitische Kreditgeschäfte des Eurosystems veröffentlicht. Damit wurde ein weiterer Schritt auf dem Weg zur Finanzmarktintegration im Euroraum und zur europäischen Kapitalmarktunion vollzogen.