12/17/2022 0 Comments Back in time auctionBitte informieren Sie sich über diese Beschränkungen und beachten Sie diese. Die Informationen richten sich ausschließlich an Personen, die (i) in einer Rechtsordnung ansässig sind, in der Umfasste Wertpapiergeschäfte rechtmäßig sind, und die (ii) zum Erhalt dieser Informationen berechtigt sind. Subsequently, the result will be published via news information services and on the website of the Finance Agency.ĭer Zugang zu den Webseiten der Bundesrepublik Deutschland - Finanzagentur GmbH (die “Website” und die Informationen auf der Website, die “Informationen”) unterliegt den nachstehenden Bedingungen und Konditionen: Die Website stellt weder ein Angebot noch eine Aufforderung zum Kauf oder Verkauf von Bundeswertpapieren oder anderen Produkten (zusammenfassend als “Umfasste Wertpapiergeschäfte” bezeichnet) dar. The allotment decision will be made by Finance Agency immediately after the end of bidding and communicated to the bidders via the BBS. Frankfurt time electronically via the BBS. On the auction day itself, the members of the bidding group can submit their bids for the tender from 8:00 a.m. Likewise, in the form of a press release, the coupon and the interest rate date are announced one day in advance on the basis of the public invitation to tender. The Deutsche Bundesbank announces the auction of a Federal security, including issuance volume and maturity, by means of a press release six banking days before the tender date. The tenders for nominal-interest Federal bonds with a maturity of 10 years or more are always held on Wednesdays.Inflation-linked Federal securities, Federal Treasury notes and Federal notes are always issued on Tuesdays.Placements of Treasury discount paper (money market) are regularly carried out on Mondays.The auctions last from 8:00 am to 11:30 am. The amount of the retention quote varies from auction to auction, but has been below 20 % of the issuance volume on average since 2006:įederal securities are issued via the BBS on different weekdays, which are depending on the type of Federal security. In general, the Federal governement withholds a certain nominal volume at each auction (retention quote), which can be gradually released to the market after the tender process as part of secondary market activities. The Federal government reserves the right to reject all bids as well as to repair both the bids at the lowest accepted price and the bids without price indication, i.e. Bids without a price indication will be allocated at the weighted average price of the accepted price bids. Bids that are above the lowest accepted rate will be fully allocated, while bids that are below the lowest accepted rate will not receive an allocation. bids accepted by the Federal government are allocated at the price quoted in the respective bid and are not settled at a single price. The Federal government uses a multi-price auction process, i.e.
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