List of Bunds Issues Auction Group: Germany
6. Germany¹
A. List of Bunds Issues Auction Group²
FIRM ABN AMRO Banca IMI Bankhaus Lampe KG Bank of America Merrill Lynch Barclays Bayerische Landesbank BBVA BHF-Bank Aktiengesellschaft BNP Paribas Citigroup Commerzbank Crédit Agricole Credit Suisse Danske Bank A/S Dekabank Deutsche Bank DZ Bank Goldman Sachs HSBC ING Jefferies J.P. Morgan Landesbank Baden-Wurttemberg Landesbank Hessen-Thuringen Girozentrale Mizuho Morgan Stanley Natixis Key: AFME/Primary Dealer Members Non- AFME Members AFME Members Germany (DE) û û û û û û û û û û û û û û û û û û û û û û û û û û û Firm’s location Amsterdam Milan Bielefeld London London Munich Madrid Frankfurt Paris London Frankfurt Paris London Copenhagen Frankfurt Frankfurt Frankfurt London Dusseldorf Amsterdam London London Stuttgart Frankfurt London London Paris
¹ Germany does not have any Primary Dealership system per se but as there are still rules that apply to the investment banks members of the Bund Issues Auction Group we decided to include this European Member State to this Handbook. ² List of the members of the Bund Issues Auction Group operating on the German Government Bond Market as of January 2012 . For complete information please refer to the Bundesbank's website http://bundesbank.de.
European Primary Dealers Handbook
6.1
FIRM Nomura Norddeutsche Landesbank Girozentrale Nordea Rabobank Royal Bank of Canada Royal Bank of Scotland Santander Scotiabank Europe Société Générale UBS Unicredit West LB TOTAL Key: AFME/Primary Dealer Members
Germany (DE) û û û û û û û û û û û û 38
Firm’s location Frankfurt Hannover Helsinki London London Frankfurt Madrid London Paris Frankfurt Munich Dusseldorf
Non-AFME Members
AFME Members
B. Credit Rating
German debt is rated as follows:³ Ÿ Standard and Poor's: AAA Ÿ Moody's: Aaa Ÿ Fitch Ratings: AAA
C. Financial Instruments
The German Federal Government currently uses a wide range of securities to borrow funds for financing its budget. This includes:
A. List of Bunds Issues Auction Group²
FIRM ABN AMRO Banca IMI Bankhaus Lampe KG Bank of America Merrill Lynch Barclays Bayerische Landesbank BBVA BHF-Bank Aktiengesellschaft BNP Paribas Citigroup Commerzbank Crédit Agricole Credit Suisse Danske Bank A/S Dekabank Deutsche Bank DZ Bank Goldman Sachs HSBC ING Jefferies J.P. Morgan Landesbank Baden-Wurttemberg Landesbank Hessen-Thuringen Girozentrale Mizuho Morgan Stanley Natixis Key: AFME/Primary Dealer Members Non- AFME Members AFME Members Germany (DE) û û û û û û û û û û û û û û û û û û û û û û û û û û û Firm’s location Amsterdam Milan Bielefeld London London Munich Madrid Frankfurt Paris London Frankfurt Paris London Copenhagen Frankfurt Frankfurt Frankfurt London Dusseldorf Amsterdam London London Stuttgart Frankfurt London London Paris
¹ Germany does not have any Primary Dealership system per se but as there are still rules that apply to the investment banks members of the Bund Issues Auction Group we decided to include this European Member State to this Handbook. ² List of the members of the Bund Issues Auction Group operating on the German Government Bond Market as of January 2012 . For complete information please refer to the Bundesbank's website http://bundesbank.de.
European Primary Dealers Handbook
6.1
FIRM Nomura Norddeutsche Landesbank Girozentrale Nordea Rabobank Royal Bank of Canada Royal Bank of Scotland Santander Scotiabank Europe Société Générale UBS Unicredit West LB TOTAL Key: AFME/Primary Dealer Members
Germany (DE) û û û û û û û û û û û û 38
Firm’s location Frankfurt Hannover Helsinki London London Frankfurt Madrid London Paris Frankfurt Munich Dusseldorf
Non-AFME Members
AFME Members
B. Credit Rating
German debt is rated as follows:³ Ÿ Standard and Poor's: AAA Ÿ Moody's: Aaa Ÿ Fitch Ratings: AAA
C. Financial Instruments
The German Federal Government currently uses a wide range of securities to borrow funds for financing its budget. This includes: