The March 2017 Monthly Report sheds light on Germany’s balance of payments for 2016 and outlines the cyclical adjustment procedures carried out by the federal states as part of the debt brake.

The Bundesbank posted a profit of €1.0 billion for the 2016 financial year, compared with €3.2 billion in 2015. Owing to an allocation to the reserves, the remaining distributable profit amounted to €0.4 billion and was transferred in full today to the Federal Government pursuant to section 27 number 2 of the Bundesbank Act (Bundesbankgesetz).