Terms and conditions, Issuance conditions and Procedural rules for auctions in connection with BBS.

Procedural rules for payment systems of the Deutsche Bundesbank are available here.

The certificate is self-signed with the SHA-256 algorithm and is valid for twelve years.

In case of a longer-term TARGET incident, the Deutsche Bundesbank may grant loans as part of the emergency settlement (Enhanced Contingency Solution/ ECONS) covered by sufficient collateral. 

With the outbreak of the global financial crisis in 2007 and the turmoil it brought about in the international banking system, trust between commercial banks increasingly dwindled, which significantly hampered the redistribution of liquidity via the interbank market that is necessary for a functioning corridor system. Banks in the euro area began to hoard liquidity or not lend it indiscriminately to banks that were in need of liquidity, meaning that the short-term money market no longer facilitated the smooth distribution of liquidity. The volatility of short-term interest rates went up significantly. As a result, the ECB Governing Council adopted a series of non-standard monetary policy measures, thereby changing the way in which the operational framework is used to implement monetary policy.

Cooperative arrangements are valuable, as they save resources, increase reach and strengthen networks