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Market practices in Germany
Germany
Name of National Central Bank | Deutsche Bundesbank |
Phone number of the CCBM unit | + 49 69 23 88 24 77 |
Fax number of the CCBM unit | + 49 69 23 88 24 97 |
CCBM-Team@bundesbank.de | |
Counterparties’ contact for credit claim related issues | Deutsche Bundesbank Zentralbereich Märkte, Kreditforderungsmangement, For letters: Postfach 11 12 32, 60047 Frankfurt For registered mail and parcels: Weserstraße 46, 60329 Frankfurt E-Mail: maccs@bundesbank.de Telephone: +49 69 23 88 14 70 Telefax: +49 69 23 88 14 60 |
Publications describing local legal and operational procedures | General Terms and Conditions of the Deutsche Bundesbank (esp. par. V.)( at www.bundesbank.de) |
Legal and procedural aspects
Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) | n.a. |
Procedural aspects governing a pledge towards the NCB and legal documentation used (if applicable) | Deliveries of collateral (securities) to the Deutsche Bundesbank as HCB must be accompanied by a general declaration of pledging (“generelle Verpfändungserklärung”) compiled on the official Deutsche Bundesbank form. This form is available upon request to the Deutsche Bundesbank. No special German procedures apply to deliveries to Deutsche Bundesbank as CCB. |
Specific procedures governing non-marketable assets | Deutsche Bundesbank acting as CCB:
Additional Special Terms and Conditions apply to the use of non-marketable assets governed by German law, which complement the existing provisions applicable to relations between the Home Central Bank and its counterparties when the Deutsche Bundesbank acts as Correspondent Central Bank (can be found at www.bundesbank.de) |
Technical Aspects | Clearstream Banking Frankfurt (CBF)-CASCADE | Clearstream Banking Frankfurt (CBF)-CREATION | Deutsche Bundesbank |
---|---|---|---|
Type of eligible assets held | All marketable assets if T2S eligible | Domestic bonds, eurobonds, commercial paper | Non-marketable assets (credit claims) |
Opening hours | Opening of Clearstream Banking Frankfurt (CBF)-CASCADE to 5.30 p.m. | Opening of Clearstream Banking Frankfurt (CBF)–CREATION to 5.30 p.m. | 9.00 a.m.–4.00 p.m. |
Number of settlement cycles per day | Real time settlement | Real Time Settlement | No settlement cycle; transactions can be forwarded to Deutsche Bundesbank during a.m. business hours |
BIC of SSS(s) or NCB | DAKVDEFFXXX | CEDELULLXXX | MARKDEFFCCB |
Account of NCB in the SSS | MARKDEFFCCB 7368 in case of CBF internal transactions |
67368 | n.a. |
HCB's sub accounts in the SSS (where applicable) | n.a. | n.a. | n.a. |
Matching requirements | Yes |
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n.a. |
Matching/Settlement details |
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Settlement details may be obtained by consulting the Clearstream website | |
Special Operating Procedures | CBF General Terms and Business Conditions (can be found at www.clearstream.com). | CBF General Terms and Business Conditions (can be found at www.clearstream.com). | General Terms and Conditions of the Deutsche Bundesbank (can be found at www.bundesbank.de). For cross border use see explanations under "specific procedures governing non-marketable assets" in this table. For detailed clarification of the necessary procedures Deutsche Bundesbank strongly recommends counterparties to contact the Deutsche Bundesbank prior to the forwarding of instructions, see "Foreign counterparties’ contact for credit claim related issues" in this table. |
Homepage of SSS | www.clearstream.com (select Issuance & Settlement and CSD services to reach the CBF webpage) | www.clearstream.com (select Issuance & Settlement and ICSD services to reach the relevant CBF webpage) | n.a. |