In addition to using marketable assets such as securities, the Deutsche Bundesbank’s monetary policy counterparties can also use non-marketable assets in the form of credit claims as collateral for monetary policy operations.

Eligible domestic counterparties can submit and administer credit claims under German law (domestic use) via the MACCs (Mobilisation and Administration of Credit Claims) credit claim management system, which is provided by Deutsche Bundesbank.

For the use of credit claims under foreign law in the CCBM procedure, the Eurosystem Collateral Management System (ECMS) is expected to be available for selected foreign legal orders from the beginning of 2026 (for more information, see tab “Cross-border use of credit claims (CCBM) (ECMS)”).

The MACCs application covers the entire process of submitting and managing credit claims (incl. borrowers’ note loans). As a browser application, MACCs is not dependent on a particular platform and provides a modern and user-friendly technical architecture. Users can access the application via Deutsche Bundesbank’s ExtraNet. Up-to-date security standards ensure that high standards for data protection (confidentiality) and data security (authenticity and integrity) are met.

MACCs can be used exclusively by domestic counterparties. The Deutsche Bundesbank does not charge any fees. However, costs may be incurred for the annual process audit by an external auditor pursuant to Section V No 11(1) of the General Terms and Conditions of the Deutsche Bundesbank. Further information can be found under the menu item “Legal basis”.

Two submission and management options of credit claims are available to counterparties in MACCs:

• In the online procedure, credit claims can be submitted and managed directly in the application. The menu has been designed so that use of the application is largely intuitive. The input fields are already pre-filled as far as possible.
• In the file transfer procedure, the data can, for example, be transferred in XML format via an A2A (application to application) interface.

The efficient processing in MACCs enables the credit claims to be quickly transferred to the counterparty’s counterparty pool in ECMS, so that the collateral values of the credit claims assigned to the Deutsche Bundesbank are generally available to the counterparties on the same day for monetary policy operations and the settlement of payment transactions under the position “Externally Managed Collateral” (EMC).

ICAS prioritisation will also be implemented with the go-live of ECMS. Counterparties that have previously selected their own IRB  rating procedure as credit assessment procedure must continue to record the IRB  rating for the respective debtors in MACCs. The IRB  rating will be used as a secondary rating source any time ICAS judgement is not available.

The support team credit claims is available on business days during the support hours (Frankfurt local time) to answer any questions counterparties may have about MACCs. Should any problems regarding MACCs or ExtraNet arise outside of the aforementioned support hours, please send us an email on the matter or phone the support team credit claims on the following working day.