Landwirtschaftliche Rentenbank

50.1170978.678706Koordinaten: 50 ° 7 ' 2 " N, 8 ° 40' 43 " O

The Agricultural Bank pension (short: Bond Bank ), based in Frankfurt am Main is the German development bank for agriculture and rural development. The Bank finances by lending diverse investments to enable future growth. Refinancing is mainly on the international capital markets. The bank was founded in 1949 as a public institution. The institutional liability borne by the federal government.

General Explanation of terms

Pension banks are founded in the 19th century state-owned banks (public mortgage credit institutions) to enable the base load shedding.

Since the Middle Ages the peasants were obliged in most areas of Germany, their landlords to provide easements ( manual and team services, labor services, in kind).

In the 19th century, these obligations should be resolved within the framework of the incipient anywhere in Europe emancipation. To compensate for the deleted rem achievements of farmers to their masters, the banks gave state pension from guaranteed, freely tradable and income bonds ( pension letters ) as a lump sum payment to the landlords. The farmers, however, had to pay fixed sums of money from which banks could use the pension interest and repayment of the bonds the bond banks over a longer period.

Development bank for agriculture and rural development

The funding of the pension bank aimed at both production plants of agriculture and forestry, wine and horticulture as well as to producers of agricultural means of production, trade and service companies that are closely connected with agriculture. The Bank also finances projects in the food industry as well as other upstream and downstream enterprises. It also promotes investment by municipalities and other public bodies in rural areas and private commitment to rural development. The development mandate explicitly includes the agricultural -related environmental protection, renewable energy and renewable resources from agriculture, the spread of organic farming, the agricultural -related consumer protection and animal welfare in agriculture.

The credits are awarded competitively neutral basis over the respective bank.

In addition, the pension bank agriculture-related liquidity assistance and interest reduction programs on behalf of the Federation and the Länder performs.

The net profit of the Bank 's pension is used under safeguard the public interest in promoting agriculture. He is ever supplied to the Special Purpose Fund and the Development Fund for the half. While the purpose assets encouraging agricultural innovation serves a variety of individual projects and institutions supported by the Promotion Fund, which are important for agriculture and rural areas of importance.

Refinancing

The Bank 's pension funds its lending operations primarily in the international capital markets through borrowing and issuance of securities. A special role in refinancing play medium-term note (MTN ) programs, commercial paper (CP ) programs as well as with the U.S. Securities and Exchange Commission registered global bonds. The development bank can both covered securities (since August 2002 pension bank letters; previously agricultural letters and cash bonds ) issued and unsecured debentures. In contrast to previous years, is now the focus of the issuance of unsecured securities. The issues are denominated mainly in U.S. dollars and euros.

The long-term liabilities of pension Bank are rated by the three major rating agencies, each with a triple-A.

History

Precursor Institute

Precursor Institute of the Agricultural Bank were the German retirement pension Bank and the German pension Kreditanstalt ( RKA ).

The German pension bank with headquarters in Berlin, was founded in 1923 by agriculture, industry, trade and commerce as currency bank to combat hyperinflation. She was on November 15, 1923 issue of the Rentenmark rapid success in the currency reform achieve ( " Wonders of the pension mark").

The German pension bank Kreditanstalt ( RKA ) was founded on November 1, 1925 to overcome the financial problems of agriculture. After 1945 failed reactivation, it came instead establishing the Agricultural Bank pension.

The Bank for Agriculture AG, in which the pension Agricultural Bank had owned the majority of shares, was sold in 1981 to the AMRO bank.

Agricultural Bank pension

With the adoption of the pension laws, the Agricultural Bank pension bank was founded on May 11, 1949 as a central lender with development mandate for agriculture. The genesis of the pension bank is closely associated with the German pension bank, which was founded in 1923 as a currency Bank to combat the then hyperinflation, and the pension Kreditanstalt ( RKA ), which emerged in 1925 as a key lender to the agricultural sector from the German pension bank. When naming the Agricultural Bank pension in 1949 this issue was supported by retaining the name component pension bank account, because the pension Agricultural Bank took over the then perceived by the RKA tasks as a central lender. In the application of the own funds of the Agricultural Bank pension they resorted back to the pension bank mortgages RKA and transferred them by law at the Agricultural Bank pension. Between 1949 and 1958, paid all West German farms ( including forestry and horticulture) from a unit value of DM 6,000 bond bank mortgage interest rate of 0.15% per annum of the respective unit value of contaminated land. This brought the agricultural profession on a share capital of € 135 million today.

In the fifties and sixties, the credit business of pension bank based primarily on a budget or other public sources. Once predominantly medium-term investment loans for measures of mechanization and increasing production in agriculture had been awarded in the early years, a shift of funding activities to improve agricultural structure took place from the mid- fifties.

By 1972, government assistance programs were the focus of the lending business of the Bank 's pension. This changed with the laws on joint tasks Improvement of Agricultural Structures and Coastal Protection and Improvement of the regional economic structure. In order to carry out the promotion of agriculture from the competence of the federal government passed into the political responsibility of the federal states. Most countries now led credit promotion and interest reduction by itself and instructed state banks and state-owned development banks with these tasks.

The bond bank began after the abolition of state funding to the development of their own special loan programs. In the activity was also the rural areas, which included agriculture upstream and downstream sectors of the economy and rural municipalities and municipal facilities. In addition to the special loans to promote specific uses of the bond bank is also expanding the lending business with general development loans for agriculture and rural areas. It won Global funding for combined funding medium and long -term loans are becoming increasingly important.

After 1972, the Bank 's pension was also in the refinancing of its credit transaction is no longer supported by public funds, but had to rely solely on capital markets funding. The inclusion of capital market funds had indeed already begun in 1953, but has now expanded considerably. It played until the mid-eighties promissory notes, registered bonds and covered bonds ( Agricultural letters and cash bonds ) play an important role. In the nineties Unsecured bonds issued increased. The possibilities of raising funds on the international financial markets since 1994 in a larger scale, first by the conclusion of a Euro Medium Term Note Programme ( EMTN), used. This required a rating by an internationally recognized rating agency. In the following years the pension bank expanded its international activities. She supplemented her refinancing instruments in 2000 by the Euro Commercial Paper (ECP ) program and an MTN program in Australian dollars. The first issue in Australia in 2002 was placed with institutional investors. Since 2001, the Bank has a registration with the SEC, which makes it possible to issue global bonds.

Members of the institutions

Board of Directors

• Horst Reinhardt (Chairman from 1 April 2013, from 1 January 2007 Member of VS)
• Hans Bernhardt (from 1 June 2006)

Board of Directors

• Joachim Rukwied (Chairman from 8 November 2013 Member from 29 June 2012)
• Christian Schmidt MP ( Deputy Chair from 17 February 2014)
• Udo Folgart ( November 8, 2013)
• Bernhard Kruesken ( from 1 October 2013)
• Werner 's help ( from 1 October 2006 )
• Brigitte shear bands (as of 1 January 2008)
• Norbert Schindler, MP ( from 1 April 1998 )
• Manfred Nüssel ( as of 12 November 1999)
• Werner Hildenbrand (from 16 November 2011)
• Ulrike Höfken ( from 1 November 2011)
• Hermann onco Aeikens (as of 1 January 2012)
• Robert Habeck ( from 14 June 2012)
• Robert Kloos ( from 1 October 2010)
• Klaus Stein (from 1 July 2011)
• George Drive There ( as of 5 July 2012)
• Wolfgang Kirsch ( from 6 November 2008)
• Klaus -Peter Müller ( from July 16, 2009)

Former members

• Gerd Sonnleitner, President of the Board of 23 April 1998 to 7 November 2013 Member from 1 January 1992
• Hans -Peter Friedrich, MP, Deputy. Chairman of the Board from October 1, 2013 to February 17, 2014
• Ilse Aigner, Deputy. Board Chairman dated 31 October 2008 until 30 September 2013
• Till Backhaus, Board Member from 1 January 2008 to 31 December 2009
• Heinz Christian Bär, Board Member to 30 September 2006
• Helmut Born, Board Member from 1 January 1992 until 30 September 2013
• Rolf -E. Breuer, Board Member until 15 July 2009
• Ulrich Brixner, member of the Board until 30 June 2008
• Marcus Dahmen, Chief Executive Officer from 1 October 2007 to February 8, 2010
• Wilhelm Dietzel, Board Member from 1 January 2008 to February 5, 2009
• Hans -Heinrich Ehlen, Board Member to 31 December 2007
• Thomas R. Fischer, Board Member from 9 November 2006 to August 2, 2007
• Peter Hauk, Board Member to 31 December 2007
• Hermann Kißler, Chairman of the Board on May 11, 1949 to December 4, 1953
• Silke Lautenschlager, Director of 6 February 2009 to December 31, 2009
• Berthold liver, Board Member from 5 April 2006 to October 24, 2008
• Erika Lenz, Board Member until December 31, 2007
• Stefan Morsdorf, Board Member from 1 January 2008 to 10 November 2009
• Hans -Jürgen Ploog, Member of the Management Board until 30 June 2008
• Norbert Schindler, member of the Board until 30 September 2006, from 1 July 2007
• Horst Seehofer, Chairman of the Board until October 27, 2008
• Volker Sklenar, member of the Board until 31 December 2007
• Peter Traumannswald, Board Member from 15 May 2006 to 14 May 2007 and from 15 May 2008 until 15 July 2009
• Jörg Wendish, Board Member of 5 April 2006 to 30 September 2010
• Klaus Wiese Hill, Director of 16 July 2009 until 30 September 2013
• Hans -Joachim Wilms, Board Member until 15 July 2009
• Uwe Zimpelmann, Chief Executive Officer until 30 September 2007