Cross-border use of credit claims
Eurosystem-counterparties can use credit claims governed by German law as collateral for refinancing with their home central bank (HCB).
In this case, Deutsche Bundesbank will act as correspondent central bank (CCB) in the Correspondent Central Banking Model (CCBM) and take on the administration of the credit claims.
The different national procedures for credit claims require individual, country-specific approaches which necessitate a bilateral agreement between the two NCBs involved. An overview of the national procedures and contact data for the cross border use of credit claims is available on the ECB-website.
The collateralisation with credit claims governed by German law occurs by way of KEV participation. A CCBM-fee will be imposed on the cross-border use of credit claims.
The Customer Service KEV will be pleased to advise and assist you and to answer any question arising