Bundesbank announces €5 billion auction for Federal Treasury Notes
The Deutsche Bundesbank has announced a multi-ISIN auction for Federal Treasury Notes (Bubills) on January 19, 2026. The auction aims to raise €5 billion through a new issue and an increase of existing notes.
Two tranches, €5 billion target
The auction on January 19, 2026, includes an increase of the June 2025 Bubills (ISIN DE000BU0E303) with a target volume of €2 billion.
Additionally, a new issue of January 2026 Bubills (ISIN DE000BU0E378) is planned for €3 billion, maturing on December 9, 2026.
The total targeted issuance amount for both tranches is €5 billion.
Tender process details and deadlines
Bids for the Bubills auction must be submitted by members of the Federal Issues Bidding Group between 8:00 AM and 11:30 AM Frankfurt time on January 19, 2026.
Bids must be for a minimum nominal amount of €1 million and specify yields to three decimal places.
The tender announcement day is January 16, 2026, with settlement scheduled for January 21, 2026.