Funding treasure
Financing treasures were special federal securities , i.e. bonds from the Federal Republic of Germany , which were regularly issued as tap issues between 1975 and 2012. They were issued as zero coupon bonds with a term of 1 or 2 years. In the early years they were issued by the Federal Securities Administration; In 2006 the Federal Republic of Germany - Finanzagentur GmbH took over the issue of the financial treasures. They served to finance the national deficit as well as to build wealth for private investors.
From 1975 financing treasures with terms of 12 and 24 months were issued as discount papers. This means that the interest over the entire term was deducted from the nominal value upon acquisition , the purchase price was thus lower than the later repayment amount (full nominal value) at the end of the term. The issue took place in monthly new series with due dates on the 20th of each month. Regardless of this, the issuer could adjust the terms and conditions to changing market conditions daily until 12 noon.
Everyone was entitled to purchase, with the exception of banks. The purchase of these securities was limited to a maximum amount of EUR 250,000 per person and business day. The minimum investment amount was 500 euros. Financing treasures were not introduced into stock exchange trading, were not subject to any price risk and could not be returned early.
Only the most recently issued issue of a financial treasure could be acquired - free of charge from any bank , savings bank , cooperative bank or the federal finance agency.
On July 4, 2012, the Federal Finance Agency announced that new business with private customers would be discontinued from 2013 for cost reasons and that no federal treasury bills or treasury funds would be issued.
The last issue of the Funding Treasures was paid off on December 20, 2014.
example
If a one-year financing treasure over 500 euros (face value) is to be acquired at a sales interest rate of 3.47%, only 482.65 euros have to be invested when purchasing. After one year, 500 euros are paid out. The difference of 17.35 euros corresponds - based on the nominal value of 500 euros - to the sales interest of 3.47% and - based on the investment amount of 482.65 euros - a return of 3.60%.
Web links
- Federal Republic of Germany - Finanzagentur GmbH Homepage of the finance agency.
- eForum: Federal securities publication on funding estimates (PDF; 130 kB; p. 2), accessed on March 12, 2015.
- Folder Federal Securities Chapter D - Financing Treasures , accessed on March 12, 2015.
Individual evidence
- ↑ BMF publication on the dissolution of the Federal Securities Administration ( Memento of the original from April 2, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed March 12, 2015.
- ↑ Press release of the Finance Agency of November 22, 2012, accessed on May 14, 2015.
- ↑ e-FORUM: Federal securities - April 2008 ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. The financial agency's customer magazine on financial treasures (PDF; pages 5–7, 704 kB), accessed on March 12, 2015
