All counterparties have two options for submitting credit claims: the online procedure and the file-transfer procedure. There is also a backup procedure for both types of submission.
The online procedure can be carried out via the Deutsche Bundesbank’s ExtraNet and requires a MACCs login as a first step. Counterparties can submit credit claims and retrieve reports in the MACCs application. A distinction is generally made between the submission of debtor data and credit claims data. Counterparties that have selected their own IRB rating system as the credit assessment procedure must also record the IRB rating of the respective debtors in MACCs before they can submit credit claims from these debtors. The system only allows the submission of debtor data for first-time entries, which is why changes to debtor data, such as changes in the address or a change of legal form, must be sent by email to firstname.lastname@example.org immediately after they become known.
The submission of credit claims is broken down by business type: new submission, update and voluntary return. In order to minimise the frequency of errors, the principle of dual control is generally applicable for entries in MACCs. The evaluation functions provide counterparties with extensive information on current and historical submissions and stocks of credit claims (for information on the use of historical data from KEV, see the relevant section entitled “Current issues and circulars”). In addition, counterparties can access written confirmations, the evaluation list and the debtor search function under the “Evaluations” menu item.
More information on the online procedure can be found in the MACCs documentation.
File transfer procedure
Like the online procedure, the file transfer procedure takes place via the Deutsche Bundesbank’s ExtraNet. The procedure for the submission (upload) and receipt (download) of files is described in detail in the MACCs documentation. The file transfer procedure is particularly useful for submitters who wish to assign a large number of credit claims to the Deutsche Bundesbank. The procedure for transferring a large number of data records for submissions, updates and returns of credit claims in a single file is largely automated, but requires the submitter to have appropriately programmed implementation routines in place in order to create the files to be transferred to the Deutsche Bundesbank and to ensure that the receipt and stock files received by the Deutsche Bundesbank are readable.
Counterparties need to apply for the file transfer procedure separately. For this purpose, Deutsche Bundesbank provides templates for the structure and content of the files. The templates are described in detail in the “Explanatory notes on the files in the MACCs file transfer procedure”, including a comprehensive description of the plausibility checks implemented for the submission file.