KfW Treasury

KfW Treasury provides core treasury services to KfW Group, Germany's flagship development agency. This includes KfW's funding activities at debt capital markets for the group's liquidity and operational needs as well as its financial asset management primarily for liquidity purposes. KfW is worldwide one of the most active, high-volume issuers at the international debt markets. We focus on a sustainable issuance strategy with the clear target to reach the highest possible level of liquidity and stability for KfW bonds. A long standing and trustful cooperation with institutional investors and investment banks worldwide is an important prerequisite to reach these goals. Due to the top credit standing of KfW backed by an explicit guarantee of the Federal Republic of Germany, all major credit rating agencies have assigned a triple-A rating with stable outlook to KfW. KfW meets various investors' needs with its broad range of debt securities and commercial papers. Through this diversification KfW attains particular high flexibility and independence from individual market trends. The benchmark programme comprises large-volume bonds with typical benchmark maturities. Besides benchmark bonds in EUR and USD, KfW offers "Green Bonds - Made by KfW" as well as additional public bonds in different currencies, maturities and formats. The product range is complemented by tailor-made private placements specifically customized for investors' needs. Private placements are flexible in regard to currency, structure and maturity. Last but not least, KfW issues commercial papers under two commercial paper programmes which represent the group's most important source of short-term liquidity. KfW Treasury provides its services to KfW Group with approximately 70 professionals located at the group's headquarter in Frankfurt am Main, Germany.