Eligible securities

1. 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.
   
   

   These are:

   • 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.

   
   
2. 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 TIERX field ISSUER GROUP is '3' or '7'
• or
• if the TIERX field ISSUER GROUP is '4' or '8' and the TIERX field UCITS (Undertakings for Collective Investment in Transferable Securities) COMPLIANT is 'N'.


• are not divided into series/classes , ie categories are exempted
• if the GD140, GD601 or GS009 field of the WSS database is filled (- at the time of writing this document this applies to ISIN DE0001108215, DE0001108231 and DE0001108256).



3. 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.