Frequently asked questions (FAQs)
Because MACCs covers a wide variety of topics and because questions can also arise outside of support hours, this section provides a clear overview of the most frequently asked questions and their answers. The topics can be narrowed down in advance using the search and filter functions.
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Data entered into MACCs are not directly cross-checked against AnaCredit. Nevertheless, a check is performed to see if the same combination of data already exists in MACCs, as the identifiers for a credit claim must be unique to each counterparty. This plausibility check prevents claims being entered twice.
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As a general rule, the statements are to be submitted electronically (preferably via DiFin, but alternatively in PDF format), although it is still possible to send the annual financial statements by post.
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In principle, a borrowers’ note loan claim transferred in paperless form (e.g. electronically via e-mail) can also meet the requirements of the General Terms and Conditions of the Deutsche Bundesbank. It is not strictly necessary to issue a transfer certificate or borrowers’ note.
In the case of electronic transfer, the counterparty does not gain possession of the borrowers’ note, which means that the obligation to keep the borrowers’ note pursuant to Section V subsection 12(2) sentence 3 of the General Terms and Conditions of the Deutsche Bundesbank does not apply to the counterparty.
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It is broadly possible for a credit institution to submit customers’ annual financial statements, but it should be noted that, in order to submit annual financial statements, the Bundesbank requires written consent from the enterprise concerned. Prior to granting this authorisation, the enterprise should be provided with the “Supplementary explanatory notes on the Deutsche Bundesbank’s credit assessment procedure and sending data”. By submitting annual financial statement documents, the enterprise gives its full consent in each case (i.e. in the subsequent year as well) to use being made of the credit assessment data as per points 1 to 4. This is the precondition for participating in the Deutsche Bundesbank’s credit assessment procedure.
Further information
in German partly
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During the transitional period, retroactive submission, alteration or deletion of address information will be possible in MACCs via an update. Once the transitional period is over, only alteration or deletion of address information will be possible via update.
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This is currently not possible.
If the MACCs participant has taken on the role of a facility agent, however, it can enter its own address information in the fields with a single mouse click.
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For technical reasons, it is not possible to update the data subsequently. In the event of an entry error, the claim must be withdrawn from the MACCs stock in a first step and can then be resubmitted with the correct type of credit claim in a second step.
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When entering data into MACCs, these values can be identical. The combination of contract and instrument identifier recorded for a given credit claim must be unique, i.e. distinct from that of any other credit claim you submit.
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Generally they do not, unless the consortium loan was issued in the form of a claim against borrowers‘ notes. These are governed by the rules for consortium loans.
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No, unsecured credit claims may be submitted in MACCs.
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Generally yes, unless the consortium loan was issued in the form of a claim against borrowers‘ notes. These are governed by the rules for consortium loans.
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In the case of consortium loans, the addresses of the lead arranger, the collateral trustee and the paying agent must all be entered where required by the contract. In the case of claims against borrowers‘ notes, the paying agent must be entered. As a rule, however, public claims against borrowers‘ notes do not have paying agents in our experience, as payments are processed by public authorities. In the case of claims against borrowers‘ notes for enterprises, there is often a paying agent.
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The registered office of the facility agent (lead arranger, paying agent, collateral trustee) does not matter when counting jurisdictions according to the currently applicable guidelines. The office must, however, be located (as confirmed by a court of registration) in a Member State of the European Union.
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Yes, if ECONS collateral was submitted in MACCs during the relevant reporting period, the audit („Bericht des unabhängigen Wirtschaftsprüfers über die jährlichen Prüfungen gemäß Abschnitt V Nr. 11 (1) AGB/BBk“) has to be submitted. The relevant form for 2022 is currently under adjustment and will soon be available.
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Claims against borrowers‘ notes for which no borrowers’ note has been issued must nevertheless be entered into MACCs as claims against borrowers‘ notes. This permits the necessary address information to be entered in MACCs.
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The early full repayment of a credit claim requires an immediate update in MACCs (i.e. update in MACCs no later than within the course of the next business day). The nominal amount of the credit claim must be set to zero. As a result, the credit claim will be deleted from your stock.
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The (early) partly repayment of a credit claim necessitates an immediate update in MACCs (i.e. update in MACCs no later than within the course of the next business day).The nominal amount of the credit claim must be set to the new nominal/outstanding amount.
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All debtors registered in MACCs can be searched for using the menu sequences “Submission – Credit claim – Capture new submission” and “Evaluation – Debtor search”. In addition, if you have applied for the role “Info file eligibility ICAS (file download)”, you can call up the list of eligible debtors in ExtraNet and search for debtors using the search function.
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Debtor data should be entered using the menu sequence “Submission – Debtor – Capture” and released following approval by another MACCs user at your institution. Once the debtor entry has successfully been created in MACCs by Bundesbank staff, which may also entail initiating credit assessments, you will be able to locate the debtor using the debtor search function.
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These credit claims cannot be submitted directly to the Bundesbank. This constitutes cross-border use of credit claims, and the CCBM procedure must be used for this purpose. The credit claim must be submitted via the relevant central bank, whose law is the basis of the credit claim.
Bilateral agreements between the central banks involved serve as a basis for cross-border use. For details on the CCBM procedure and on the bilateral agreements in place, please contact the support team credit claims.