Use of ECONS collateral in MACCs

In case of a longer-term TARGET incident, the Deutsche Bundesbank may grant interest-free loans as part of the emergency settlement (Enhanced Contingency Solution/ ECONS) covered by sufficient collateral. In addition to marketable assets, non-marketable assets can be used from 8 July 2022 onward. Further details of this regulation can be found in the current General Terms and Conditions/BBk, section V No 25.

All eligible credit claims that are permitted for monetary policy operations are eligible for the assignment in respect to this specific security purpose. The related assets are held in a separate TARGET-Contingency-Pool (Pool-ID 201) in MACCs. Usage of the TARGET-Contingency-Pool can be applied for at Deutsche Bundesbank by submitting a specific assignment declaration in relation to the specific security purpose. This requires the existence of a specific additional collateral account.

In case of the assignment of non-marketable collateral for ECONS loans, please contact the support team credit claims.