Frequently asked questions (FAQs)
Because MACCs covers a wide variety of topics and because questions can also arise outside of support hours, this section provides a clear overview of the most frequently asked questions and their answers. The topics can be narrowed down in advance using the search and filter functions.
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A contractually detained guarantor is referred to as relevant if the principal debtor of the credit claim does not have its own eligible rating and the rating of the guarantor is to be used.
Before submitting a credit claim with a relevant guarantor, it is essential to contact the support team credit claims, as the Bundesbank must examine the credit agreement, the guarantee declaration and any legal opinion that may be required before using the guarantee.
Information on the fulfillment of the credit claim by co-obligated parties, e.g. by means of a guarantee, can be found in No. 16 of the Bonitäts-Bedingungen.
Further information
in German only
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The consortium loan checkbox is to be activated by selecting “yes” if the (eligible) credit claim to be submitted has its legal basis in a credit agreement under which several lenders grant one or more loans to one or more borrowers, which are administered by a consortium leader and/or under which payments are processed via a paying agent, but are not claims against borrowers’ notes. Each lender has a direct repayment claim against the borrower(s).
In principle, loans extended by so-called external consortia in particular can meet this definition and fulfil the requirements for eligible collateral. Nevertheless, we cannot exclude that loans extended by internal consortia also meet the definition and may fulfil the eligibility criteria in individual cases due to the structure of the loan agreement.
Sub-participations regularly do not fulfil the eligibility criteria. As a rule, they lack a legally independent credit claim that can be transferred free of third-party rights. The prohibition on submitting partial claims can also play a role in the case of sub-participations. Credit claims that fulfil the eligibility criteria (in particular, can be transferred free of third-party rights) and in which sub-participations exist thus usually do not have the above-mentioned characteristics of a consortium loan.
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Submissions of credit claims are generally processed on the same business day and the credit claim value is credited to the collateral account immediately. The processing takes place within the above mentioned support hours (8:00 a.m. – 4:00 p.m.). Should same day processing - irrespective of it being legally valid by submitting the relevant credit claim data - not be possible due to an important reason (e.g. the debtor being domiciled abroad), processing will occur on the next business day. Should a submission not have been processed within the aforementioned timeframe, the relevant counterparty will be informed immediately. There is no further claim to be made against Deutsche Bundesbank.
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If no specific contact address is listed in the claim against borrowers´ notes contract, generally the current business address according to the commercial register has to be entered.
In the case that a specific contact address of the paying agent is listed in the claim against borrowers´ notes contract, this specific contact address has to be entered in MACCs.
It should be noted that current data are to be kept for each claim against borrowers´ notes. The requirements of our relevant General Terms and Conditions can only be checked on the basis of current data. This means that any changes of the address data during the mobilisation of the credit claim in MACCs must be updated by the MACCs participant.
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The observed agent identifier is an identifier, not an attribute. The information can be found in the header of your organisation’s AnaCredit reports, specified as the observed agent identifier (OBSRVD_AGNT_CD in the report file). The observed agent identifier is, in most cases, the bank sort code of the reporting institution.
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Eligible debtors can be non-financial corporations, public sector entities (excluding public financial corporations), multilateral development banks and international organisations.
Allocation to the relevant sectors (sector S.11 for non-financial corporations and S.13 for public sector entities) is based on the European system of national and regional accounts in the European Union (Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 – ESA; see Chapter 2 paragraphs 2.45 et seq.). Customer Classification is the unit at the Bundesbank which is responsible for classification according to ESA 2010. In cases of doubt, you can contact kundensystematik@bundesbank.de to find out more about sector classification. A list of recognised multilateral development banks and international organisations can be found on the ECB’s website.
Further information