The January 2019 edition of the Bundesbank’s Monthly Report looks into how a normalisation of interest rates will impact on balance sheets in the euro area’s private non-financial sector and explores price competitiveness in a number of euro area countries in terms of the development, drivers and influence of labour market reforms. The Report also features an analysis of financial cycles in the euro area and sheds light on International Financial Reporting Standard (IFRS) 9 from a banking supervision angle.

In 2019, the Bundesbank achieved a net profit of 5.8 billion euros. After adjustment of the reserves, the net profit is 5.9 billion euros, the highest net profit since 2008, which the Bundesbank transferred in full to the Federal Ministry of Finance.

The monthly report contains: Quotas and voting shares in the IMF, The performance of German credit institutions in 2001, Productivity developments in Germany.

The April 2011 monthly report contains: Commentaries; Effective exchange rates from financial market data; The US labour market in the current cycle; European Council decisions on the prevention and resolution of future sovereign debt crises.