EFTA Document EFTA01459012

Deutsche Asset & Wealth Management Glossary Explanation of terms The asset purchase programme (APP) refers to purchases of marketable debt instruments by the ECB. Bunds are issued by Germany's federal government, most frequently with a maturity of 10 years, and are the German equivalent of U.S. Treasury bonds. The DAX is a blue-chip stock-market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. The deposit rate is the rate banks receive when they