Short-term funding and liquidity management
Highly active on the money market
KfW ensures the liquidity of the entire KfW Group via the global money and capital markets. KfW is one of the world's most active players in the money market, particularly through its commercial paper programmes, which serve short-term borrowing and are important for liquidity management for the entire KfW Group.
Sustainable investment approach for the liquidity portfolio
KfW holds financial assets for group-wide management of liquidity through a liquidity portfolio, for which it invests exclusively in fixed-income securities with a good credit rating (investment grade). At the start of 2017, KfW developed its approach to integrating environmental, social and governance (“ESG”) criteria into a best-in-class approach; it now only purchases bonds from issuers whose sustainability score is among the top 80% in the relevant sector.
The information contained in this online Annual Report 2017 is based on KfW’s Financial Report 2017, which you can download Should this online Annual Report 2017, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Financial Report, the KfW Financial Report 2017 takes priority.