The funds for refinancing of promotional lending are raised through borrowings or the issuance of securities on domestic and international capital markets. Within the bank's international funding activities, the € 60 billion Euro Medium Term Note (EMTN) program, launched in 1994, as well as the € 20 billion Euro Commercial Paper (ECP) program, launched in 2000, play important roles.
In 2001, the bank started the issuance of global bonds registered with the U.S. Securities and Exchange Commission (SEC). The SEC registration was achieved under the "Schedule B" of Section 7 of the 1933 Securities Act, which is only available to sovereign and quasi-sovereign issuers. Domestic bond issuance documentation in several countries such as Australia, Canada, Japan, New Zealand and Norway further diversifies the bank's international funding sources. In addition, Rentenbank has an excellent access to the domestic investor base with registered bonds (Namensschuldverschreibungen) and promissory notes (Schuldscheindarlehen).
Rentenbank's long-term obligations are triple A-rated by Moody's Investors Service, Standard and Poor's and Fitch Ratings. The ratings reflect the support under the maintenance obligation (Anstaltslast) by the Federal Republic of Germany which ensures full payments on all obligations but also takes into account the low risk of the bank's loan portfolio, its stable profit and strong capitalization.
Rentenbank is a public law institution, which was set up by statute in 1949, and operates under the legal supervision of the German federal government and the banking supervision of the Federal Financial Supervisory Authority (BaFin). The basis of the bank's capital was formed by contributions paid in by the German agricultural and forestry sector between 1949 and 1958. Therefore, any unappropriated profits, which remain after allocations to reserves, may only be used to promote agriculture.