---
source: Deutsche Finanzagentur (German Finance Agency)
url: https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/auktionen/emissionsergebnisse_aktuell_en.pdf
document_type: pdf
date_retrieved: 2026-03-30
period: March 30, 2026
parent_publication: Auction Results
indicators_covered: [3-Month Bubill Yield]
---

# Auction Results - Federal Discount Papers (Bubills)

## Overview of the Auction on March 30, 2026

The Federal Republic of Germany - Finance Agency and the Deutsche Bundesbank have published the results for the auction of Federal discount papers (Bubills) held on March 30, 2026. This auction included the reopening of a 12-month Bubill maturing in July 2026 and another maturing in January 2027.

## Key Auction Metrics (March 30, 2026)

### 3-Month Bubill (Reopening)
- **ISIN:** DE000BU0E311
- **Maturity:** 2026-07-15
- **Issuance Volume:** € 2,000 million
- **Total Bids:** € 3,767 million
- **Allotted Volume:** € 1,892 million
- **Lowest Accepted Price:** 99.37596
- **Weighted Average Price:** 99.37654
- **Average Yield:** 2.151 %
- **Retention Quote:** € 108.00 million
- **Bid-to-Cover Ratio:** 2.0

### 9-Month Bubill (Reopening)
- **ISIN:** DE000BU0E360
- **Maturity:** 2027-01-13
- **Issuance Volume:** € 3,000 million
- **Total Bids:** € 4,845 million
- **Allotted Volume:** € 2,923.40 million
- **Lowest Accepted Price:** 98.05739
- **Weighted Average Price:** 98.06045
- **Average Yield:** 2.481 %
- **Retention Quote:** € 76.60 million
- **Bid-to-Cover Ratio:** 1.7

## Recent Historical Results (Bubills)

| Date | ISIN | Maturity | Yield (%) | Bid-to-Cover |
|------|------|----------|-----------|--------------|
| 2026-03-16 | DE000BU0E337 | 2026-09-16 | 2.121 | 4.1 |
| 2026-03-09 | DE000BU0E329 | 2026-08-19 | 2.115 | 2.4 |
| 2026-02-16 | DE000BU0E329 | 2026-08-19 | 1.975 | 2.9 |
| 2026-02-02 | DE000BU0E295 | 2026-05-13 | 1.985 | 3.4 |

## Methodology Note
Yields are calculated from volume-weighted prices of allotted bids. The bid-to-cover ratio represents the relation between total bidding volume and total allotted volume.