Verglichen mit November 2023 haben sich folgende Entwicklungen ergeben:

Residents – with the exception of monetary financial institutions (MFIs), investment stock corporations, investment companies for their special funds and individuals – are required to report their claims and liabilities vis-à-vis non-residents on a monthly basis if the sum of the claims or the sum of the liabilities amounts to more than €5 million or the equivalent value in another currency at the end of a given calendar month.

The term "credit risk mitigation techniques" refers to institutions' collateral agreements that are used to reduce risk arising from credit positions.

We currently appear to be administering the correct ‘dose’ of interest rate increases, said Bundesbank President Joachim Nagel in an interview with the Sunday newspaper “Frankfurter Allgemeine Sonntagszeitung”. In his view, the price outlook is not yet clear enough to cut interest rates. However, he does expect price developments to continue to normalise. 

Under the German Whistleblower Protection Act, the Bundesbank’s whistleblower office can be contacted if there is information about criminal offences, certain administrative offences punishable by a fine or violations of other provisions listed in the German Whistleblower Protection Act which affect the Deutsche Bundesbank itself.

The People’s Republic of China currently has severe economic problems to contend with. On top of that, relations between advanced economies in the West and China have worsened noticeably of late. These developments also present considerable risks for Germany. “If these risks materialise, Germany’s economy could take a huge hit,” the Bundesbank writes in an article in its January Monthly Report. The article explores Germany’s dependence on China, and is the first to also focus on potential risks to the financial system. 

The German Panel on Household Finances (PHF) is a panel survey on household finance and wealth in Germany, covering the balance sheet, pension, income, work life and other demographic characteristics.

Main refinancing operations, basic tenders and fine-tuning operations

Die Kreditbedingungen für unterschiedliche Arten von Gegenparteien insgesamt blieben per saldo von September bis November 2023 stabil und liefen damit den in der Umfrage vom September 2023 geäußerten Erwartungen einer Verschärfung zuwider.

Der gewichtete Indikator der Kreditfinanzierungskosten für neue Kredite an Unternehmen blieb mit 5,22 % weitgehend unverändert. Der entsprechende Indikator für neue Wohnungsbaukredite an private Haushalte sank um 4 Basispunkte auf 3,97 %. Diese Entwicklung war auf den Zinseffekt zurückzuführen.

The German financial system has weathered the exceptionally strong rise in interest rates well overall and has proved stable over the past months, the Bundesbank writes in its Financial Stability Review 2024. Credit risk is now increasingly coming under the spotlight, however. The financial system is facing acute challenges due to geopolitical tensions and a weak economy. The economy is also undergoing transformation, said Bundesbank Executive Board member Michael Theurer. Our top priority must be a resilient financial system.

Kirstin Hubrich explains the basics of financial stability and of this year’s Financial Stability Review.

Im ersten Halbjahr 2023 erhöhte sich die Gesamtzahl bargeldloser Zahlungsvorgänge im Euroraum um 10,1 % auf 67,0 Milliarden im Vergleich zum ersten Halbjahr 2022; der Gesamtwert sank unterdessen um 4,5 % auf 111,4 Billionen €.

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