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Germany 2024 Funding Plan (2/2): Auction Details

EUROZONE ISSUANCE
  • Schatz: 16 auctions E76bln (13 in 2023: E71.5bln from E74.0bln target). One tap of 3.10% Dec-25 Schatz 4 new issues (first 3 to be built to E19bln outstanding, final to E14.5bln and likely reopened in 2025).
  • Bobls: 12 auctions E48bln (12 in 2023: E54.5bln from E56bln target). 2 new issues to be built to E24bln each.
  • 7-year Bund: 5 auctions E15bln (9 in 2024 (10 planned): E31.0bln from E35bln target). No new issue, just reopening of 2.40% Nov-30 to build up to E28bln.
  • 10-year Bund: 16 auctions E70bln (14 in 2023: E62.5bln from E65.0bln target). 2 new issues to be build up to E35bln each.
  • 15-year Bunds: E16.5bln total: 8 multi-ISIN auctions plus one single-ISIN auction for a new May-41 Bund in April, (7 multi-ISIN auctions in 2023: E15.5bln from E19.5bln target). New May-41 Bund to be launched in April. Note in 2023, the shortest maturity was the 0% May-35 Bund and the longest maturity was the 2.50% Jul-44 Bund.
  • 30-year Bund: 11 multi-ISIN auctions E22bln (11 in 2023: E27.0bln from E24.5bln target). Note in 2023, the shortest maturity was the 1.25% Aug-48 Bund.
  • Green auctions: E17-19bln across 11 auctions and 2 syndications (E17.25bln in 2023 across 6 auctions and 2 syndications).

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