Treasury

Contact

Treasury Management at the Sächsische Aufbaubank – Förderbank – (SAB) is responsible for managing assets and liabilities and liquidity, including cash investment and refinancing. To fulfil these tasks, the SAB acts as a business partner in the money and capital markets in accordance with the provisions of "Verständigung II" between the EU Commission and the German federal government.

Activities include

  • Money-market transactions
  • Derivative transactions
  • Securities transactions
  • Refinancing through promissory note loans, registered bonds and bearer bonds

Money-market transactions

Money-market transactions are concluded as part of the SAB’s liquidity management. They include investment and borrowing in the form of overnight and fixed-term deposits, and acquiring commercial papers.

Derivative transactions

Derivative transactions are concluded only for hedging purposes or to manage interest-rate risks on individual items on the balance sheet (micro-hedges) or on all items (macro-hedges).

Securities transactions

Securities transactions are primarily concluded to manage regulatory liquidity requirements. A buy-and-hold approach is employed for acquiring securities in line with the SAB’s status as a non-trading entity. Only fixed- and variable-rate securities denominated in euros are acquired.

Refinancing

The SAB refinances itself by borrowing funds from national and international development banks, as well as by issuing promissory note loans, registered bonds and bearer bonds on the capital markets. Up-to-date information is available from Thomson Reuters/Bloomberg (page: SABF).

Guarantee by the Free State of Saxony

Pursuant to § Section 5 (1) and (2) of the Establishment Act of the Sächsische Aufbaubank – Förderbank – (FördbankG), the Free State of Saxony is the guarantor and is institutionally responsible for the Bank. Pursuant to § Section 5 (4), the Free State of Saxony is explicitly liable for loans taken on by the Bank, bonds issued by the Bank, forward transactions structured as fixed-term transactions, rights from options and other credits to the Bank, as well as credits expressly guaranteed by the Bank.

Zero solvency weighting

In the opinion of the Federal Financial Supervisory Authority (PDF, 72 kB) (PDF, 72 kB), the liability accepted by the Free State of Saxony is an appropriate guarantee within the meaning of Article 116 (4) Regulation (EU) No. 575/2013 (CRR). Risk exposure to the SAB is therefore weighted at 0,00 %.

Rating

The SAB and its guarantor, the Free State of Saxony, have been rated “AAA/A-1+” by the Standard & Poor’s ratings agency.

Publication in Thomson Reuters and Bloomberg

Page: SABF

Payment and securities-account details

Payment instructions
Sächsische Aufbaubank, Dresden
(SWIFT code: SABDDE81XXX)
via TARGET2
IBAN money markets and derivatives: DE98 8501 0500 0103 1110 04
IBAN promissory note/registered bond (SSD/NSV): DE30 8501 0500 0201 1230 65
Securities account
Euroclear 13970

Insider information and proprietary trading

This is where you can find information that is required to be published under the EU market-abuse regulation. Since that regulation came into force on 3 July 2016, there has been no insider information relating to Sächsische Aufbaubank – Förderbank – (SAB) and no proprietary trading.