• main navigation
  • search
  • content area

Service Navigation

  • Contact
  • Glossary
  • Easy to read
  • DE
  • FR
  • Search
  • Statistics
  • Bank sort codes search
  • Login

Logo

Deutsche Bundesbank

Main navigation

  • de
  • fr
  • Bundesbank
    Money in caricature and satire
    Exhibition: “Money in caricature and satire”

    From 20 September, the Money Museum presents a new special exhibition that approaches money from a unique perspective, viewed through the lens of caricature and satire.

    • 20.09.2022 – 29.10.2023
    • Frankfurt am Main
    Exhibition: “Money in caricature and satire”
    • back
      hide navigation
    • Overview Bundesbank
    • Organisation
      • back
      • Overview Organisation
      • Executive Board
        • back
        • Overview Executive Board
        • Dr Joachim Nagel
        • Prof. Claudia M. Buch
        • Prof. Joachim Wuermeling
        • Burkhard Balz
        • Dr Sabine Mauderer
      • Directorates General
      • GTC and legal basis
      • Mission statement and Strategy
      • The Bundesbank: key figures
      • Directions
    • Regional Offices and branches
      • back
      • Overview Regional Offices and branches
      • Baden-Württemberg
        • back
        • Overview Baden-Württemberg
        • Branches
        • President
      • Bavaria
        • back
        • Overview Bavaria
        • Branches
        • President
      • Berlin and Brandenburg
        • back
        • Overview Berlin and Brandenburg
        • Branch
        • President
      • Bremen, Lower Saxony and Saxony-Anhalt
        • back
        • Overview Bremen, Lower Saxony and Saxony-Anhalt
        • Branches
        • President
      • Hamburg, Mecklenburg-West Pomerania and Schleswig-Holstein
        • back
        • Overview Hamburg, Mecklenburg-West Pomerania and Schleswig-Holstein
        • Branches
        • President
      • Hesse
        • back
        • Overview Hesse
        • Branch
        • President
      • North Rhine-Westphalia
        • back
        • Overview North Rhine-Westphalia
        • Branches
        • President
      • Rhineland-Palatinate and Saarland
        • back
        • Overview Rhineland-Palatinate and Saarland
        • Branches
        • President
      • Saxony and Thuringia
        • back
        • Overview Saxony and Thuringia
        • Branches
        • President
    • Research and Research Data
      • back
      • Overview Research and Research Data
      • Research Centre
        • back
        • Overview Research Centre
        • Research Council, Research Professors and Research Fellows
        • Research Areas and Programme
        • People
        • Research Brief
        • Discussion Papers
        • Refereed Publications
        • Seminars
      • Research Data and Service Centre
        • back
        • Overview Research Data and Service Centre
        • Research Data
        • Your research project at the RDSC
        • About the RDSC
        • Research Council
        • INEXDA
        • Publications
      • Conferences
      • Research Visit and Internship
      • Panel on Household Finances (PHF)
        • back
        • Overview Panel on Household Finances (PHF)
        • About the PHF
        • Methodology
        • User-Documentation
        • Data access and data protection
        • Links and documents
      • Survey on Consumer Expectations
      • Survey on the expectations of firms
    • Library and archives
      • back
      • Overview Library and archives
      • Library
      • Historical archive
    • Art and Numismatics
      • back
      • Overview Art and Numismatics
      • Art Collection
        • back
        • Overview Art Collection
        • Paintings and works on paper
        • Sculptures and installations
        • Exhibitions & viewing times
          • back
          • Overview Exhibitions & viewing times
          • Archive
        • Publications
      • Coin and banknote collection
        • back
        • Overview Coin and banknote collection
        • Objects
        • Special pieces
        • Pictures archive
        • Recent acquisitions
        • Publications
        • Numismatic library
        • Exhibition
    • Money Museum
      • back
      • Overview Money Museum
      • Visitor Information
      • Exhibition
      • Offers for Groups
      • Lectures
      • Museum discovery tours
    • History
      • back
      • Overview History
      • Timeline
      • 20 years of the euro
    • International Central Bank Dialogue
      • back
      • Overview International Central Bank Dialogue
      • About us
      • International Central Banking Courses
        • back
        • Overview International Central Banking Courses
        • Application procedure
      • Bilateral cooperation
      • EU-funded projects
      • Frequently asked questions
      • Representative network
      • Newsletter
      • Contact
    • Eurosystem
    • Campus
      • back
      • Overview Campus
      • Building site
      • Media library
      • Press collection
    • Green Finance
  • Tasks
    Bundesbank symposium “Banking supervision in dialogue”
    Bundesbank symposium

    The Deutsche Bundesbank hosts the Bundesbank symposium annually, with the aim of promoting the exchange of information on current topics relating to banking supervision within the banking industry.

    • 05.07.2023
    • 08:30 – 16:30
    • Frankfurt am Main, Germany
    Bundesbank symposium
    • back
      hide navigation
    • Overview Tasks
    • Monetary policy
      • back
      • Overview Monetary policy
      • Monetary policy decisions
      • Economic analyses
      • Monetary policy framework
      • Open market operations
        • back
        • Overview Open market operations
        • Outstanding open market operations
        • Tender calendar and system
        • Regular refinancing and fine-tuning operations
        • Foreign currency transactions
        • PSPP Auctions
      • Collateral
        • back
        • Overview Collateral
        • Eligibility criteria
        • Bundesbank's tasks
        • Credit assessment
        • Mobilisation of collateral
        • Customer information
        • Downloads
      • Outright transactions
        • back
        • Overview Outright transactions
        • Asset purchase programme (APP)
        • Pandemic emergency purchase programme (PEPP)
        • Securities lending under the APP and PEPP
        • Transmission Protection Instrument (TPI)
        • Outright Monetary Transactions (OMT)
        • Terminated programmes
      • Minimum reserves
        • back
        • Overview Minimum reserves
        • Legal basis
        • Interest rates and reserve ratios
      • Excess reserves
      • Standing facilities
      • Contact
    • Financial and monetary system
      • back
      • Overview Financial and monetary system
      • Financial and monetary stability
        • back
        • Overview Financial and monetary stability
        • Role of the Bundesbank
        • Terms and definitions
        • Macroprudential surveillance (G-FSC)
        • Residential Mortgages of private households
        • Risks and stability analysis
        • Macroprudential tools
        • Financial Stability Forum
      • International cooperation
        • back
        • Overview International cooperation
        • ESRB and FSC
        • EU committees
        • FSB
        • BIS
        • CGFS
        • IMF
        • MDBs
        • G20
        • G7
      • Financial Stability Review
    • Banking supervision
      • back
      • Overview Banking supervision
      • Objective
      • Bundesbank's role
        • back
        • Overview Bundesbank's role
        • Bundesbank and BaFin
        • Single Supervisory Mechanism
        • Operational tasks
          • back
          • Overview Operational tasks
          • Capital and liquidity adequacy
          • On-site inspections
        • EBA
        • Basel Committee on Banking Supervision
      • Legal basis
        • back
        • Overview Legal basis
        • EU legislation
        • National legal basis
        • Basel framework
      • Individual aspects
        • back
        • Overview Individual aspects
        • Supervision priorities
        • Authorisation procedure, Holder control, Governance
        • Own funds requirements
          • back
          • Overview Own funds requirements
          • Own funds
          • Credit risk
          • Operational risk
          • Market risk positions
          • CVA risk
        • Macroprudential measures
        • Liquidity
          • back
          • Overview Liquidity
          • Supervisory reporting of institutions of the LCR
          • Supervisory reporting of institutions with regard to the net stable funding ratio
          • Additional monitoring metrics for liquidity reporting
          • Treatment of central bank reserves in the LCR
          • Regulation on the liquidity of institutions
        • Leverage Ratio
        • Lending business
        • Risk Management
          • back
          • Overview Risk Management
          • Prudential requirements for IT (BAIT)
          • ICAAP / ILAAP
          • MaRisk
          • Machine learning methods
          • Remuneration
          • Interest rate risk
        • SREP
        • Financial services institutions
        • Disclosure
        • Fintechs
        • Payment institutions and e-money institutions
        • Deposit protection
        • Recovery and resolution
        • Sustainable Finance
        • Expert panels
      • Documentation
    • Cash management
      • back
      • Overview Cash management
      • The Eurosystem cash strategy
      • Euro banknotes
        • back
        • Overview Euro banknotes
        • Research and Development
        • Main features
        • 5 Euro
        • 10 Euro
        • 20 Euro
        • 50 Euro
        • 100 Euro
        • 200 Euro
        • 500 Euro
      • Euro coins
        • back
        • Overview Euro coins
        • Regular coins
        • €2 commemorative coins
        • Collector coins
      • Foreign exchange
      • DM banknotes and coins
      • Damaged money
      • Counterfeit money
        • back
        • Overview Counterfeit money
        • Counterfeit detection
        • Detectors
      • Cash services
        • back
        • Overview Cash services
        • For business clients
        • For non-business clients
        • For central banks
      • CashEDI
        • back
        • Overview CashEDI
        • General Information
          • back
          • Overview General Information
          • Data exchange
          • Scope of services WebEDI/Filetransfer
        • Downloads and video tutorials
        • Access to CashEDI
      • Cash recycling
        • back
        • Overview Cash recycling
        • Legal framework
        • Cash processing systems
      • Reproduction regulations
      • Events
    • Payment systems
      • back
      • Overview Payment systems
      • TARGET2-Securities
        • back
        • Overview TARGET2-Securities
        • Migration and connection
      • TARGET2/T2S consolidation
        • back
        • Overview TARGET2/T2S consolidation
        • Functional Aspects
        • Community Readiness Monitoring
        • Prepatory Support for Participants
        • Testing and Migration
        • Legal Framework
        • TARGET2 – Balance
        • European Committee Work
        • Documentation & FAQs
        • Compensation Scheme
        • Restricted service area
      • TIPS
        • back
        • Overview TIPS
        • Making a project reality
        • Services
        • Pan-European reachability
        • Participants
        • Legal framework
        • Information for participants
          • back
          • Overview Information for participants
          • Forms
          • Terms and conditions
          • Prices
          • Reference documents
          • Customer tests / Releases
      • Eurosystem Collateral Management System
        • back
        • Overview Eurosystem Collateral Management System
        • Harmonisation initiatives
        • Community Readiness Monitoring
        • Participant information
        • Test and Migration
        • Documentation & FAQs
      • Collateral account
        • back
        • Overview Collateral account
        • Information for new customers
          • back
          • Overview Information for new customers
          • Forms
          • Collateral management system
      • PSD2
      • RPS
        • back
        • Overview RPS
        • SEPA-Clearer
          • back
          • Overview SEPA-Clearer
          • Participation
          • Fees and operating hours
          • SCL-Directory
        • National cheque processing
          • back
          • Overview National cheque processing
          • Participation
          • Fees and operating hours
      • Customer access mechanism
        • back
        • Overview Customer access mechanism
        • CAM-Individual
        • CAM-SEPA
        • CAM-Instant
        • CAM-IMPay
        • Operating hours and fees
        • Communication
        • Correspondent banking
      • Oversight
        • back
        • Overview Oversight
        • Business Continuity
      • TIBER-DE
      • Digital euro
      • Services
        • back
        • Overview Services
        • Bank sort codes
        • Check-digit calculation
        • IBAN rules
        • Customer Test Centre
        • SEPA
        • RMB Clearing
        • Forms
      • Publications
        • back
        • Overview Publications
        • Analysis
        • amplus
    • Topics
  • Statistics
    Suche Icon
    SDMX Web Service

    The Bundesbank provides a new procedure for the automated download of statistical data sets. The web service offers an interface for programmatic access.

    SDMX Web Service
    Blue digital binary data on computer screen
    Time series databases

    The Bundesbank’s up-to-date statistical data in the form of time series (also available to download as a CSV file or SDMX-ML file).

    Time series databases
    • back
      hide navigation
    • Overview Statistics
    • Banks and other financial corporations
      • back
      • Overview Banks and other financial corporations
      • Banks
        • back
        • Overview Banks
        • Balance sheet items
        • Banks' profit and loss accounts
        • External position of banks (MFIs)
        • Monetary aggregates
        • OTC derivatives
        • Triennial Central Bank Survey
      • Investment companies
      • Pension funds
      • Financial vehicle corporations
      • Insurance corporations
      • Payments statistics
    • Economic activity and prices
      • back
      • Overview Economic activity and prices
      • Output
      • Orders received and stock of orders
      • Turnover
      • Employment and labour market
      • Negotiated pay rates and labour costs
      • Producer and consumer prices
      • Foreign trade prices
      • Property prices and prices for construction work
      • Weekly activity index
    • Enterprises and households
    • Exchange rates
      • back
      • Overview Exchange rates
      • Exchange rates, euro foreign exchange reference rates, gold prices
      • Effective exchange rates
    • External sector
      • back
      • Overview External sector
      • Balance of payments
      • International investment position and external debt
      • Direct investments
    • Macroeconomic accounting systems
      • back
      • Overview Macroeconomic accounting systems
      • National accounts
      • Financial accounts
      • Balance sheets
    • Money and capital markets
      • back
      • Overview Money and capital markets
      • Euro money market
      • Securities holdings
      • Securities issues
      • Interest rates and yields
        • back
        • Overview Interest rates and yields
        • Central bank interest rates
        • Money market rates
        • Yields on debt securities outstanding
        • Prices and yields of listed Federal securities
        • Term structure of interest rates
        • Discount interest rates
        • Interest rates on deposits and loans
        • Real interest rates on households' deposits
        • Expected real interest rates
    • Public finances
      • back
      • Overview Public finances
      • Maastricht deficit and debt level
      • Budgetary developments in Germany (national accounts)
      • Budgetary developments in Germany (public finance statistics)
    • Sets of indicators
      • back
      • Overview Sets of indicators
      • System of indicators for the German residential property market
      • System of indicators for the German commercial property market
      • Financial Soundness Indicators
      • SDDS Plus
      • Long time series
    • Sustainability
    • Time series databases
  • Service
    Cashless money transfer
    Bank sort codes search

    Here you will find information on the bank sort code file and on the bank sort code update service. You can also download the bank sort code files.

    Bank sort codes search
    • back
      hide navigation
    • Overview Service
    • Banking services for central banks
    • Banks and companies
      • back
      • Overview Banks and companies
      • Bund Bidding System (BBS)
        • back
        • Overview Bund Bidding System (BBS)
        • Documentation
        • Operating and support hours
        • Terms and conditions
        • Tests
      • Collateralmanagement Access Portal (CAP)
        • back
        • Overview Collateralmanagement Access Portal (CAP)
        • Documentation
        • Operating and support hours
        • Terms and conditions
        • Test environment
      • CERT-Bundesbank
      • Creditors meetings
      • ESM/EFSF Bidding System (EBS)
        • back
        • Overview ESM/EFSF Bidding System (EBS)
        • Documentation
        • Operating and support hours
        • Terms and conditions
      • Mobilisation and Administration of Credit Claims (MACCs)
        • back
        • Overview Mobilisation and Administration of Credit Claims (MACCs)
        • Customer information
        • Legal basis
        • Cross-border use of credit claims
        • Test environment
        • FAQs - Frequently asked questions
      • OpenMarket Tender Operation System (OMTOS)
        • back
        • Overview OpenMarket Tender Operation System (OMTOS)
        • Contact
        • Documentation
        • General information
        • Information for new customers
        • Operating and support hours
        • Terms and conditions
      • PKI - Public Key Infrastructures
        • back
        • Overview PKI - Public Key Infrastructures
        • Certificate Policies (CP) and Certification Practice Statements (CPS)
        • Explanatory notes on e-mail security
    • Dates
    • ExtraNet
    • Federal securities
      • back
      • Overview Federal securities
      • One-off issues
      • Issue terms
      • Issue calendar
      • Auction procedure
      • Prices and yields
      • Stripping
    • Financial sanctions
    • Media library
      • back
      • Overview Media library
      • Videos
      • Images
    • Newsletter
    • Reporting systems
      • back
      • Overview Reporting systems
      • External sector
        • back
        • Overview External sector
        • Amendments
        • External auditing
        • Electronical submission
          • back
          • Overview Electronical submission
          • General statistics reporting portal
          • Filetransfer
        • FAQ and notices
        • Legal basis
        • Code lists
      • External sector forms centre
        • back
        • Overview External sector forms centre
        • Payment reports
        • Stock reports on external claims and liabilities
        • Stock reports on cross-border equity investments
      • Banking Supervision
        • back
        • Overview Banking Supervision
        • PRISMA: Refining and improving the supervisory reporting system
        • Submission via ExtraNet
        • Formats (XBRL and XML)
        • Reports pursuant to SolvV and LiqV
        • COREP/FINREP
        • ECB financial information
        • Reports on remuneration
      • Banking Supervision form centre
        • back
        • Overview Banking Supervision form centre
        • Reports
        • Forms
      • Banking statistics
        • back
        • Overview Banking statistics
        • Customer classification
        • ExtraNet
        • Legal basis
        • Revised ECB regulations
      • Banking statistics form centre
      • Financial Stability
        • back
        • Overview Financial Stability
        • Formats (XML)
        • Other legal basis
    • School service
      • back
      • Overview School service
      • Animation videos
      • Money and monetary policy online
      • Interactive features
      • Teaching materials
        • back
        • Overview Teaching materials
        • Graphics for teaching
  • Press
    Journalists at a press conference
    Press

    In the press area, you will find press releases, speeches, guest contributions and interviews with Bundesbank Executive Board members as well as further press materials.

    Press
    • back
      hide navigation
    • Overview Press
    • Press releases
      • back
      • Overview Press releases
      • Federal securities
      • EFSF/ESM
    • Speeches
    • Interviews
    • Contributions
    • Press materials
      • back
      • Overview Press materials
      • Pictures archive
      • Video footage
      • Logo
    • Press dates
    • Press contact
    • Calendar of the Executive Board
  • Publications
    An open book next to a laptop
    Studies

    The Bundesbank published various studies and conference proceedings, resulting from the research activities of its employees and guest researchers.

    Studies
    • back
      hide navigation
    • Overview Publications
    • Bundesbank
    • Reports and studies
    • Research
    • Statistics
  • Career
    University of Applied Sciences in Hachenburg
    Bachelor of Science in Central Banking

    With the dual bachelor's degree in applied computer science, we offer an attractive career in the world of information technology.

    Bachelor of Science in Central Banking
    • back
      hide navigation
    • Overview Career
    • Job offers
    • Training programmes
      • back
      • Overview Training programmes
      • Office communication assistant (m/f)
      • Training for the Bundesbank's Intermediate Service
    • Dual study programmes
      • back
      • Overview Dual study programmes
      • Bachelor of Science in Central Banking
      • Bachelor of Science in Applied Computer Science
    • Entry options
      • back
      • Overview Entry options
      • Fast-track trainee programme
      • Direct entry
    • Work placements
      • back
      • Overview Work placements
      • Work placements for secondary school students
      • Work placements for university students
  • Contact
  • Glossary
  • Easy to read
  • Login
  1. Homepage
  2. Glossary

Glossary

  • Print
  • Read out

Glossary

What will I find in this section?

Technical terms, unfortunately, cannot always be avoided – particularly when it comes to complex topics such as monetary policy. This is why we have compiled a glossary with a wide range of terms, arranged in alphabetical order and each with a short explanation.

30 results
  • DAX (Deutscher Aktienindex)

    The Deutscher Aktienindex, or DAX, is Germany’s best known stock market index and tracks the performance of the 40 largest German companies in terms of market capitalisation (stock market value) and exchange turnover. Up to September 17th, 2021 it tracked 30 German companies. It allows a quick assessment of current market conditions and serves as a benchmark for the German stock market. The DAX started from a base value of 1,000 index points on 31 December 1987 and has been published by Deutsche Börse AG since 1 July 1988. If the DAX stands at 10,000 index points, for instance, the value of the shares contained in it has increased tenfold since then. The DAX as communicated in the media is a performance index, which includes dividend payments. The DAX is additionally quoted as a pure price index, i.e. without counting dividend payments. To be listed in the DAX, companies must meet various criteria. They are required to follow very strict transparency rules and meet certain conditions in terms of market capitalisation, exchange turnover and corporate profit. Deutsche Börse AG decides on the composition of the DAX.

    See also

    • Equity market
    • Equity share
    • Exchange
    • Performance index
    • Price index
    • Security

    Further information

    • How wacky is the DAX? The changing structure of German stock market volatility Discussion paper 18/2003: Jelena Stapf, Thomas Werner
      25.11.2003 18/2003 | 581 KB, PDF Read out
    • Ownership structure in the German equity market: general trends and changes in the financial crisis Article from the Monthly Report September 2014
      22.09.2014 | 258 KB, PDF Read out
  • Debit card

    A debit card – a plastic card the same size as a credit card – is a cashless payment instrument which is issued by financial institutions to their customers. It is also known as girocard. Details of the debit card holder's account are stored on the debit card. To effect a payment, these details are read from the card via an electronic point-of-sale terminal and a debit to the debit card holder's account for the amount of the payment is activated. However, the payer must first authorise the payment by entering a secret number in the point-of-sale terminal. In a variant of this procedure – the electronic direct debit system – debit card holders authorise a debit to their account by signing the sales voucher. In contrast to a credit card payment, when using a debit card the payer's account is debited rapidly.

    See also

    • Credit card
    • Direct debit
    • Single Euro Payments Area (SEPA)
    • Payment transactions
  • Debt brake

    The debt brake is a budgetary rule laid down in the German constitution since 2009, which since 2011 has set out mandatory requirements for the Federal Government and the states to gradually reduce the budget deficit. From 2016, the Federal Government's annual structural (i.e. not cyclical) deficit must be no more than 0.35% of gross domestic product. As of 2020, net borrowing by the federal states will no longer be permitted. Exceptions to the ban on new borrowing are permitted under certain conditions, however.

  • Debt capital

    Debt capital is that part of an enterprise's total assets which is not provided by the company's owners (equity providers). It is the collective term used to refer to all the liabilities and provisions listed on a company's balance sheet. In this context, liabilities include inter alia bank loans, debt securities issued by the company in question, loans from suppliers and any advance payments received. The debt investor has no stake in the company and serves as the creditor who has a right to repayment (redemption) of his capital and, where appropriate, due interest.

    See also

    • Equity capital
  • Debt security

    The holder of a debt security (creditor) provides the issuer (borrower) with a specific amount for a certain period. The issuer undertakes to pay this amount back to the holder of the debt security upon maturity. The issuer also pays the creditor interest under the terms of the bond. The issuer uses the debt security to raise funds, while it provides the creditor with an interest-bearing investment. Debt securities are issued by public sector bodies (public sector bonds), banks (bank debt securities, Pfandbriefe) and industrial enterprises (corporate bonds). Should the issuer default, creditors’ claims can only be met by the issuer’s estate. The opposite is the case for covered bonds: if the issuer defaults, creditors receive payments from a pool of securities that does not form part of the issuer’s bankrupt’s estate.

    See also

    • Bank debt security
    • Bond
  • Debtor

    A debtor is someone who is obliged, within a contractual relationship (e.g. purchase agreement, loan agreement), to perform a particular obligation for the creditor.

    See also

    • Creditor
  • Deficit

    A deficit, or negative budget balance, occurs when spending exceeds revenue. The government budget is said to be in deficit when the state spends more money than it collects in taxes and levies.

  • Deficit spending

    Deficit spending refers to a situation where government institutions step up their expenditure during a recession by taking out additional loans. Deficit spending aims to stimulate demand in the economy and thus boost employment, for instance. Governments should ideally reduce the new debt incurred through deficit spending by running a surplus during the subsequent boom.

    See also

    • Automatic stabilisers
    • Economic activity
  • Deflation

    Deflation refers to a general, sustained decline in the price level. In a deflationary climate, there is the risk of a self-perpetuating downward spiral: if consumers expect prices to continue falling and therefore put their consumption spending on hold, the decline in demand can lead enterpises to cut back production and lower prices even more. Falling prices also increase the real equivalent of outstanding debts and the real interest rates. This tends to also lower demand, especially demand for capital goods. The monetary policy measures that can be used to combat deflation are restricted, as nominal interest rates cannot be reduced to below zero per cent.

    See also

    • Inflation
    • Nominal interest rate
    • Price stability
    • Purchasing power

    Further information

    • Animation videos
  • Denomination

    The nominal value sequence of a series of coins and banknotes. The denominations of euro coins are 1, 2, 5, 10, 20 and 50 euro cents as well as 1 and 2 euro, and the denominations of euro banknotes are 5, 10, 20, 50, 100, 200 and 500 euro.

  • Deposit

    Deposit is the technical banking term for a balance held by a customer in his/her bank account. There are several types of deposits. Customers can access transferable deposits at any time by withdrawing or transferring cash, for example. Savings deposits usually have no limitation in time. The depositor can reclaim the deposit from the bank after a specific period of notice has elapsed. Interest rates for savings deposits are generally variable, changing with general interest rate movements. Time deposits are deposits held for a fixed period, e.g. three months or one year. Interest on time deposits is usually fixed in advance for the entire period when the contract is concluded. Banks use savings and time deposits to finance their medium and long-term lending business.

  • Deposit facility

    The deposit facility is a monetary policy instrument of the Eurosystem; it provides banks with the ongoing option of making overnight deposits at the national central banks, which are remunerated at a pre-specified interest rate. The interest rate for the deposit facility constitutes the lower limit for the overnight money market rate and is thus one of the Eurosystem's key interest rates.

    See also

    • Eurosystem
    • Monetary policy instruments
  • Deposit guarantee scheme (DGS)

    See

    • European deposit insurance scheme (EDIS)
  • Deposit money

    Deposit money is money held with a bank which a bank customer can access daily. It is only available to the bank "on sight", hence the term "sight deposit". Although deposit money is not legal tender, it is generally accepted as a means of payment. Deposit money can be used to make payments via cashless payment instruments such as credit transfers, direct debits or cheques. It can be converted into cash at any time.

  • Deposit protection

    Deposit protection is a scheme designed to protect bank customers from losing their deposits if their bank becomes insolvent. The statutory deposit protection scheme covers deposits in current accounts, savings accounts, notice accounts and time deposit accounts up to a value of €100,000 per customer. The banking industry in Germany also offers voluntary guarantee schemes for additional protection.

    Further information

    • Deposit protection
  • Depreciation

    See

    • Currency depreciation
  • Deregulation

    Deregulation refers to the removal or reduction of statutory regulations that restrict the functioning of the goods, labour and finance markets. The aim of a more liberal framework (e.g. greater competition) is to increase incentives and broaden the scope for action.

  • Derivatives

    Derivatives in banking language are financial instruments whose prices depend on the price movements in a reference variable, known as the underlying. Underlying assets may be shares, equity indices, government bonds, currencies, interest rates, commodities like wheat and gold, or also swaps. Derivative financial instruments may be unconditional forward transactions or they may be options. They are traded either on futures and options exchanges on standardised terms, or over-the-counter (OTC) on freely negotiated terms. Changes in the price of the underlying lead in certain situations to considerably stronger price changes in the derivative. Derivatives can be used to hedge against financial risks (hedging), to speculate on price changes (trading) or to take advantage of price differences between markets (arbitrage).

    See also

    • Forward
    • Option transaction
    • Option contract
    • Swap transaction
    • Forward transaction
    • Futures contract
  • Deutsche Bundesbank

    The Deutsche Bundesbank is the central bank of the Federal Republic of Germany and has, since monetary union was established, been part of the European System of Central Banks (ESCB) and the Eurosystem. The Bundesbank's president is a member of the ECB Governing Council. The Bundesbank therefore plays a role in fulfilling the primary objective of the Eurosystem, namely to maintain price stability. In addition, the Bundesbank implements monetary policy in Germany, is involved in banking supervision, works towards a stable financial and monetary system, ensures that cashless payments can be executed smoothly, manages Germany's foreign reserves and puts cash into circulation. The Bundesbank’s Central Office is in Frankfurt am Main.

    See also

    • European System of Central Banks (ESCB)
    • Eurosystem
    • Governing Council of the European Central Bank (ECB)
  • Deutsche Mark

    The Deutsche Mark (abbreviated DM, commonly referred to as D-Mark) was the currency of the Federal Republic of Germany from 20 June 1948 to the end of 2001. It was introduced with the currency reform on 20 June 1948, in the three western occupation zones of Germany, where it replaced the Reichsmark. Through the reunification of Germany, it was also adopted as the official currency in eastern Germany on 1 July 1990. Within the framework of Economic and Monetary Union, the euro eventually replaced the Deutsche Mark as legal tender on 1 January 2002, after it had already been introduced as book money on 1 January 1999. The exchange rate was fixed at €1 = DM1.95583. The Deutsche Mark was one of the most stable currencies of its time, gaining the status of the second most important reserve currency in the world, after the US dollar. It was even employed as official currency in other countries.

    Banknotes and coins denominated in Deutsche Mark can be exchanged at the Bundesbank’s branches indefinitely and free of charge.

    See also

    • Book money
    • Currency
    • Currency reform
    • Economic and Monetary Union (EMU)
    • Monetary policy
    • Reserve assets

    Further information

    • DM banknotes and coins
    • Exchanging DM for euro
    • Circulation of the Deutsche Mark - from the currency reform to European monetary union Article from the Monthly report March 2002
      15.03.2002 | 303 KB, PDF Read out
  • Direct bank

    A direct bank is a bank that does not operate any branches or subsidiaries, and which is only accessible over the telephone, by letter or via the internet for banking business.  Direct banks therefore offer cost advantages, which they can pass on to customers in the form of attractive terms and conditions.

  • Direct debit

    A direct debit is a cashless payment instrument that allows the payee to debit an amount on the payer's account via a bank. Direct debits are useful for irregular or variable payments: they save both time and effort and help to avoid forgetting a payment. Unlike credit transfers, direct debits are initiated by the payee, who has obtained the payer's consent in advance. If the payer does not agree to his or her account being debited, he or she can revoke the direct debit within certain deadlines.

    See also

    • Credit transfer
  • Direct debit mandate (SEPA)

    A SEPA direct debit mandate is the legal basis for collecting SEPA direct debits. A mandate comprises both the payer's approval for the payee to collect the payment via SEPA direct debit and the instruction to the payer's payment service provider to effect the payment.

    See also

    • Creditor identifier
    • Direct debit
    • Mandate reference
    • SEPA (Single Euro Payments Area)
  • Direct investment

    Direct investment is cross-border investment with the aim of establishing subsidiaries in a different country or taking a major capital interest in enterprises abroad such that influence can be exercised over their business operations. Direct investment forms part of the financial accounts; it also includes all transactions between the affiliated enterprises, ie corporate loans. Enterprises make direct investments in other countries in order to tap new sales markets or maintain existing ones, circumvent trade barriers or take advantage of the cost benefits of producing goods abroad. It is not uncommon for host countries to benefit from the transfer of technology associated with direct investment.

  • Direct quotation

    Exchange rates between two currencies can be quoted indirectly or directly. Direct quotation states how much one unit of foreign currency costs  in domestic currency units (eg $1 = €0.73), whereas indirect quotation states how many units of foreign currency you would receive for one unit of domestic currency (eg €1 = $1.37). In foreign exchange trading, the international convention is to quote the euro against all other currencies using the indirect quotation method.

    See also

    • Exchange rate
    • Indirect quotation
  • Discount business

    Discount business is the purchase of trade bills by a bank or a central bank, which deducts interest at the discount rate. In the past, discount business constituted the core business of a central bank, which used the short-term bills it purchased to cover some of the bank notes it issued. As a result of the creation of a single list of collateral for monetary policy transactions in the euro area, the purchase of trade bills was discontinued.

    See also

    • Bill of exchange
  • Disintermediation

    Disintermediation refers to the process of increasing lending via the capital market, circumventing the commercial banks, which were previously the most important financial intermediaries. As monetary policy measures affect commercial banks first and foremost, disintermediation alters and disrupts the monetary policy transmission mechanism.

    See also

    • Capital market
    • Financial intermediary
    • Transmission mechanism
  • Distributed ledger technology (DLT)

    Characterised by its decentralised data storage, distributed ledger technology (DLT) is the technology on which blockchain is based. It is considered to have a promising future, as the decentralised storage of data offers certain advantages over centralised storage. First, it offers protection against system failure, as individual systems which have crashed can always be replaced by other systems. Second, it rules out the possibility of a centralised computer being manipulated.

    See also

    • Blockchain

    Further information

    • Monthly Report: Bundesbank sees benefits in blockchain technology

      19.09.2017

    • Distributed ledger technologies in payments and securities settlement: potential and risks Article from the Monthly Report September 2017
      18.09.2017 | 154 KB, PDF Read out
  • Dividend

    A dividend is the proportion of a public limited company's distributed profits that is allocated to a single share. The dividend yield is the dividend divided by the current share price multiplied by 100. It specifies the return on invested capital per share and is expressed as a percentage.

    See also

    • Equity share
    • Return
  • DLT

    See

    • Distributed ledger technology (DLT)
  • © Deutsche Bundesbank
  • Imprint
  • Freedom of Information Act
  • Sitemap
  • Accessibility
  • Privacy policy
  • User information
  • RSS
To the top