The Bundesbank is not distributing a profit to the Federal Government for 2020 – for the first time since 1979. The main reason was the greater level of risk provisioning.

The February 2021 edition of the Monthly Report comments on the economic situation in Germany in winter 2020/2021.

The January 2021 edition of the Monthly Report analyses the slowdown in productivity growth in the euro area and describes the data collection methodology and analysis options for the new securities holding statistics on banking groups. It also discusses the two-tier system for remunerating reserve holdings and its impact on banks and financial markets.