In its role as fiscal agent of the Federal Government the Bundesbank fulfills different tasks related to the issuance and settlement of Federal securities.

On behalf of the German Finance Agency and for the account of the Federal Government, the Bundesbank carries out auctions of one-off issues (Treasury discount paper, Federal Treasury notes, five-year Federal notes, Federal bonds, inflation-linked Federal bonds, inflation-linked Federal notes) and conducts price smoothing operations with listed Federal securities through the German stock exchanges.