The December 2015 Monthly Report focuses on the outlook for the German economy based on macroeconomic projections for 2016 and 2017. It also contains an analysis of German enterprises’ profitability and financing conditions in 2014 as well as an article on deposit protection in Germany.

Exceptionally low interest rates remain a salient feature of the financial system setting in Germany. They reflect the global low real economic growth and expansionary monetary policy stance.

The Monthly Report November 2015 comments on the economic situation in Germany in autumn 2015.

The October 2015 Monthly Report describes German households' saving and investment behaviour in the low-interest-rate environment and outlines the development of and outlook for government spending on personnel.

The Monthly Report September 2015 comments on the recent development in lending to euro-area non-financial corporations and describes the performance of German credit institutions in 2014.

The Monthly Report August 2015 comments on the economic situation in Germany in summer 2015.

The information contained in the study is of interest to all market participants affected by the payment behaviour of private individuals, most notably retailers, credit institutions, card issuers and, last but not least, the Deutsche Bundesbank itself. Players wishing to foster more innovation in the field of payments need to offer a genuine advantage over established schemes and procedures and, in particular, to heed users’ perceived security needs.