Financing via Mockenhaupt, Reusch, "Financing Group" - experiences?

What do you think is the business policy strategy that KfW is pursuing with the interest rate adjustment on Tuesday for the 124 program?

Absolutely no idea, especially since the interest rates were sharply lowered only on 09.08. Reference rates say little about KfW, as they have their own (special) refinancing as a public institution.

The interest rate adjustment is quite surprising. Refinancing through federal funds or not (which, by the way, is basically nothing other than the average yield). In the past, interest rate adjustments mostly corresponded with the development of the reference interest rates (average yield, EURIBOR)...

I think part of the Covid 19 crisis costs are being refinanced here. I have no other logical explanation.