Credit institutions are required to calculate, on a regular basis, the impact of a sudden and unexpected change in interest rates on their interest rate risk in the banking book and to report this to supervisors.

Bundesbank President Jens Weidmann will lay down his office for personal reasons at the end of the year. “I have come to the conclusion that, after more than ten years, now is a good time to embark upon a new chapter – for the Bundesbank, but also for me personally,” Mr Weidmann explained. He said he owed thanks to his colleagues on the Governing Council of the ECB under the leadership of Christine Lagarde for the open and constructive atmosphere in the - at times - difficult discussions conducted over the past years.