Commercial Paper


Commercial paper (CP) is an unsecured short-term debt instrument with a fixed term of usually seven days to one year. The biggest liquidity is in the maturity range of up to six months. The titles are issued on a discounted basis (discounted paper).

The issue is based on a standardized issuance program and allows the issuance of individual tranches at different points in time and maturities depending on market conditions. The issue price is determined by the current yield level and of course the creditworthiness of the issuer (Rating).

Commercial paper is used for short-term funding of banks as well as non-banks and is neither cover pool eligible nor gilt-edged and as a security is not subject to protection through the Deposit Guarantee Fund.

We would be delighted to give you an overview of the current offers.