Mobilisation and Administration of Credit Claims (MACCs)
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 counterparties can submit and administer credit claims via the MACCs (Mobilisation and Administration of Credit Claims) credit claim management system, which is provided by Deutsche Bundesbank. MACCs is the successor system to KEV (“Kreditforderungen – Einreichung und Verwaltung”; credit claims – submission and administration), which was in operation until the end of July 2020.
The MACCs application covers the entire process of submitting and managing credit claims and 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 ExtraNet, the Deutsche Bundesbank’s e-business platform. 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 by domestic and foreign counterparties alike. Unlike for foreign use, the Deutsche Bundesbank does not charge any fees for the domestic use of MACCs. However, costs may be incurred for the annual process audit 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 are available to counterparties:
- 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 collateral pool, 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.
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.