Eligible securities for SC-refinancing are those admitted for collective safe custody, Wertpapier-Mitteilungen’s datafield GD 400 - taken from the Eligible Asset Database (EAD) of the ECB – and which do not necessitate a check for indications of a close link between the SC participant and the issuer of the security.
- Government bonds (including new issues of the "Bund")
- Mortgage bonds
- Bonds issued by supranational institutions (World Bank, EIB, etc)
Debt securities divided into series/classes are not accepted.
All eligible SC securities are to be checked for technical compliance with the following criteria:
All EAD securities eligible for collective safe custody (published in the ECB website), which
need not undergo a check for signs of a close link, ie categories are exempted if the EAD-Feld ISSUER GROUP is '3' or '7' or '9'
if the EAD-Feld ISSUER GROUP is '4' or '8' and the EAD-Feld UCITS (Undertakings for Collective Investment in Transferable Securities) COMPLIANT is 'N'.
- Below you will find the individual criteria used for valuating the securities (collateral):
Securities used for the purpose of self-collateralisation are valuated in accordance with the principles laid down by the Eurosystem . Section V, paragraph 4 of the General Terms and Conditions of the Deutsche Bundesbank, sets out the rules and regulations governing the valuation of securities, haircuts and margins.
UCITS (Undertakings for Collective Investment in Transferable Securities) is an EU directive stipulating the conditions under which funds domiciled in one EU member state can be marketed in all EU member states.