The Eurosystem Collateral Management Systems (ECMS) is a central system for the harmonised administration of assets in the Eurosystem. You can find detailed information to the ECMS procedure on the Bundesbank Website (link below). 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 their home central bank (HCB). The credit claims are managed in ECMS by the responsible correspondent central bank (CCB) in the euro area Member State. These CCB latter is responsible for the eligible check as part of the submission. 

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 ECMS and can be used with selected central banks from the beginning of 2026 once the mandatory customer test have been successfully completed. 

The cross-border use of credit claims may incur fees for the transfer, administration and custody of collateral, depending on the central bank acting as CCB.