Cross-border use of credit claims
Counterparties domiciled or established in Germany may also use credit claims whose contract law is governed by the law of another euro area Member State on a cross-border basis via the correspondent central banking model (CCBM) as collateral for their refinancing at the Deutsche Bundesbank – their home central bank (HCB). In this case, the responsible correspondent central bank (CCB) in the euro area Member State takes over the administration of the credit claim (see figure: The HCB business of the Deutsche Bundesbank). The different national procedures for credit claims mean that individual and country-specific approaches are needed, which in turn requires a bilateral agreement between the two central banks involved. For an overview of the national procedures and contact information relating to the cross-border use of credit claims, see the link to the ECB’s website below.
Counterparties of the Deutsche Bundesbank domiciled or established in Germany and who wish to use eligible credit claims governed by the law of another euro area Member State as non-marketable collateral are advised to contact the support team credit claims. Credit claims of this type are submitted and administrated via the correspondent central bank (CCB).
The cross-border use of credit claims incurs fees for the transfer, administration and custody of collateral.
To register for participation in the CCBM procedure and to provide us with initial information, please use the CCBM contact form attached below.