Bundesbank announces 5 billion euro auction of federal treasury notes
The Deutsche Bundesbank has announced a multi-ISIN auction for the increase and new issuance of federal treasury notes (Bubills) on January 19, 2026. The federal government aims to raise 5 billion euros from the combined offering.
Two Bubills, 5 Billion Euros
The Bundesbank announced a multi-ISIN auction on January 19, 2026, for two federal treasury notes (Bubills).
This includes an increase of the June 2025 Bubill (ISIN DE000BU0E303), maturing in June 2026, for which 2 billion euros are targeted.
Additionally, a new January 2026 Bubill (ISIN DE000BU0E378), maturing in December 2026, will be issued, targeting 3 billion euros.
The combined issuance amount for both Bubills, including market-making quotas, is 5 billion euros.
Bidding Rules and Auction Timeline
The tender process is open to members of the federal issues bidder group.
Bids must be for a minimum nominal amount of 1 million euros, with yield bids in 0.001 percentage point increments.
Price bids are not permitted.
The timeline for the tender procedure is as follows: the official announcement is on Friday, January 16, 2026.
Bids must be submitted on Monday, January 19, 2026, between 8:00 AM and 11:30 AM Frankfurt time.
The settlement date for the successful bids is Wednesday, January 21, 2026.