---
title: "European Stability Mechanism (ESM) 3-month bills auction Frankfurt am Main, Germany; Highest accepted yield 2.427%, cover ratio 2.3"
sdDatePublished: "2026-08-04T11:10:00Z"
source: "https://www.bundesbank.de/resource/blob/1004808/96f59c750d2fbb878c080e9ef480c578/472B63F073F071307366337C94F8C870/2026-08-04-auction-result-download.pdf"
topics:
  - name: "central bank"
    identifier: "medtop:20000350"
locations:
  - "Frankfurt am Main"
---


European Stability Mechanism (ESM) 3-month bills auction Frankfurt am Main, Germany; Highest accepted yield 2.427%, cover ratio 2.3

Press release: 3-months Bills of the European Stability Mechanism (ESM) – Auction result

Deutsche Bundesbank, Communications Department
Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany
presse@bundesbank.de, www.bundesbank.de
Reproduction permitted only if source is stated.
Press release

Frankfurt am Main
4 August 2026
Page 1 of 1
3-months Bills
of the European Stability Mechanism (ESM)
- Auction result -
The result of the auction of 4 August 2026 for the

3-months Bills of the ESM

Maturity: 5 November 2026 (91 interest days)

ISIN: EU000A4DMLY0

Common Code: 345911090

was as follows:

Bids
€
3,633.00 mn

Competitive bids
€
1,258.00 mn

Non-competitive bids
€
2,375.00 mn

Allotment / Issue volume
€
1,598.00 mn

- Highest accepted yield
2.427 %

- Weighted average yield
2.421 %

- Average price
99.39175 %

- Allotment

- for bids at the highest accepted yield
100 %

- for non-competitive bids
32 %

Cover ratio
2.3