@techreport{kerssenfischer2026safeasset,
  title       = {Anatomy of a Safe Asset: {B}und Market Structure and Reform},
  author      = {Kerssenfischer, Mark and Scherrieble, Willy},
  year        = {2026},
  month       = nov,
  type        = {Working Paper},
  institution = {Deutsche Bundesbank},
  url         = {https://mkerssenfischer.de/Anatomy_of_a_Safe_Asset.pdf}
}