You will find new Bundesbank publications on this list in the future. Older publications are still available at www.bundesbank.de.

2024
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Financial Stability Review Financial Stability Review 2024

The German financial system has weathered the exceptionally strong rise in interest rates well overall and has proved stable over the past months. Credit risk is now increasingly coming under the spotlight, however.

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925736
Monthly Report – November 2024

The November 2024 edition of the Monthly Report comments on the economic situation in Germany in autumn 2024.

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Monthly Report Monthly Report – October 2024

In the October 2024 Monthly Report, the first article investigates how a different method of recording retained earnings in the balance of payments affects the German current account surplus. The second article highlights current developments in Germany’s international interconnectedness via foreign direct investment. The third outlines the development of state government finances in 2023, noting that the situation has deteriorated, but that there is still a structural surplus. The Monthly Report then rounds off with an article examining the topic of wage developments in Germany, detailing the current situation, providing a comparison with the euro area, and offering an outlook.

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925736
Monthly Report Monthly Report – September 2024

The September 2024 edition of the Monthly Report examines the impact of European climate policy on German foreign direct investment and discusses the profitability of German credit institutions in 2023. In addition, it looks at the Digital Operational Resilience Act (DORA) from the perspective of on-site inspections. The report concludes with an article on Member States’ financial relationships with the EU budget and the NextGenerationEU off-budget entity in 2023.

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925736
Monthly Report Monthly Report – August 2024

The August 2024 edition of the Monthly Report comments on the economic situation in Germany in summer 2024.

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925736
Monthly Report Monthly Report – July 2024

The July 2024 Monthly Report looks at the global disinflation process and its costs. In one of its articles, it describes the development of loans to enterprises in Germany since the start of the monetary policy tightening cycle. It also closely examines the EU banking package, a key element of which is the implementation of Basel III.

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925736
Monthly Report Monthly Report – June 2024

The June 2024 Monthly Report contains an article comparing the tax wedge on labour across countries as well as a commentary on economic developments in the second quarter of 2024.

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925736
Monthly Report Monthly Report – May 2024

The May 2024 edition of the Monthly Report comments on the economic situation in Germany in spring 2024.

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925736
Monthly Report Monthly Report – April 2024

The April 2024 Monthly Report describes the development of households’ wealth accounts, outlines the impact of technological progress on energy efficiency and provides an overview of the creditor structure of government bonds in the euro area.

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925736
Monthly Report Monthly Report – March 2024

The March 2024 Monthly Report explains business dynamism in the euro area, discusses demand for banknotes in crises and presents the German balance of payments for 2023.

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Annual Report Annual Report 2023

Last year, the Bundesbank’s annual accounts were shaped by the increase in the key interest rates. For the 2023 financial year, the Bundesbank reports a balanced financial result because it was able to use its financial buffers to cushion burdens in the double-digit billions. To this end, the Bundesbank released its risk provisions in full and reduced its reserves. As in previous years, no profit was transferred to the Federal budget.

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