Here you find forms for participation in the MACCs procedure, available for download.

The greenhouse gas emissions of the Bundesbank’s euro-denominated own portfolio (euro portfolio) and reserve assets have been in decline on aggregate over the past years, the Bank reports in its latest climate-related disclosures. In this report, the Bank looks in particular at the climate performance of its own financial investments. For the first time, the Bundesbank is also disclosing greenhouse gas metrics on its shares of the Eurosystem’s monetary policy holdings of corporate and covered bonds.

The Regional Offices monitor credit institutions and financial service providers in their respective regions. The branches are subordinate to the Regional Office and supply the economy with euro banknotes and coins.

The average inflation expectations for the next 12 months among households in Germany fell significantly between April and May. At 2.8 %, they were 0.4 percentage point below the previous month’s figure. For the first time since October 2024, less than half of households (45 %) expected inflation rates to rise over the next 12 months. Longer-term inflation expectations declined in May as well. Average expectations for the inflation rate three years ahead were down on the month by 0.4 percentage point to 3.0 %, whilst expectations for average inflation over the next five years declined by 0.2 percentage point to 3.3 %.

Detailed information on the individual criteria for eligible assets may be found in part 4 of "Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (ECB/2014/60)".

It is necessary to have a counterparty pool in ECMS maintained by the Deutsche Bundesbank to be able to use MACCs. If such an account has already been set up, there are only a few steps that need to be taken to be able to submit credit claims under German law using the MACCs application.

The ExtraNet is the Deutsche Bundesbank’s e-business-platform. Each counterparty wishing to use MACCs must first register users with the relevant roles in ExtraNet.