Regulation on the form and content of the cover registers in accordance with the Pfandbrief Act and the recording of entries (Cover Register Ordinance-DeckRegV)

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DeckRegV

Date of completion: 25.08.2006

Full quote:

" Coverage Register Ordinance of 25 August 2006 (BGBl. 2074), as defined by Article 7 of the Law of 20 March 2009 (BGBl). 607).

Status:

Amended by Art. 7 G v. 20.3.2009 I 607

For more details, please refer to the menu under Notes

Footnote

(+ + + Text evidence from: 1.9.2006 + + +) 

  

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Input formula

On the basis of § 5 (3) of the Pfandbrief Act of 22 May 2005 (BGBl. 1373) in conjunction with Section 1 (4) of the Regulation on the delegation of powers to the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) of 13 December 2002 (BGBl. 3), § 1 No. 4 as last amended by Article 7 (1) of the Law of 22 June 2005 (BGBl. 1698), the Bundesanstalt für Finanzdienstleistungsaufsicht (Bundesanstalt für Finanzdienstleistungsaufsicht), in agreement with the Federal Ministry of Justice, after hearing the leading associations of the credit industry:

Part 1
Scope; general provisions

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§ 1 Scope of application; definitions

(1) This Regulation lays down the requirements for the form and content of the coverage registers in accordance with § 5 (1) sentence 1 of the Pfandbrief Act, the form of records and confirmations pursuant to § 5 paragraph 2 of the Pfandbrief Act, the manner in which the transfer is made the records and records kept by the Bundesanstalt für Finanzdienstleistungsaufsicht (Bundesanstalt für Finanzdienstleistungsaufsicht) (Bundesanstalt für Finanzdienstleistungsaufsicht) (Bundesanstalt für Finanzdienstleistungsaufsicht). (2) The entries within the meaning of this Regulation are also deleted. Unofficial table of contents

§ 2 Form of cover registers; registrations

(1) Cover registers may be kept in paper form or as electronic registers in accordance with Part 3. (2) Only persons authorized by the Pfandbrief Bank may make entries (2); the authorization and any other persons may be authorized to use the register. Changes are to be documented. The documentation shall be kept for each person at least five years after the revocation of the authorization. Unofficial table of contents

Section 3 Protection of the cover registers

Congruency registers shall be protected from unauthorised access and from damage or destruction caused by external effects such as fire or water. Unofficial table of contents

§ 4 Main and sub-registers

(1) A separate coverage register shall be provided for each plea of mortgage bonds within the meaning of Section 1 (1), second sentence, No. 1 to 4 of the Pfandbrief Act. If the Pfandbrief Bank makes use of the possibility of Section 51 of the Pfandbrief Act, the previous coverage register for the Pfandbrief gate concerned must be kept in addition to the cover register to be held in accordance with the first sentence. Each congruent register must bear the name of the Pfandbrief bank and the title "Deckungsregister", together with the indication of the Pfandbrief nature. (2) In addition to the respective main register, for claims arising from derivatives transactions within the meaning of the § § 19 (1) No. 4 of the Pfandbrief Act (Pfandbrief Act) to lead a sub-register in accordance with § 13 Further sub-registers may be held for coverage values within the meaning of § 18 (1) second case (foreign security rights), § 19 (1) no. 1 to 3 and § 20 (2) no. 1 and 2 of the Pfandbrief Act. The affiliation of the subregisters to the respective coverage register shall be indicated by the heading "Unterregister zum Deckungsregister" with the addition of the Pfandbrief genus. The main register shall indicate which sub-registers are to be kept as part of the coverage register. (3) If subregisters are applied in accordance with Article 5 (1) sentence 4 of the Pfandbrief Act, a registration in the coverage register shall be applied to the register of the subregisters. Indicate the sub-register. The reference shall indicate the nature of the cover values entered in the subregister. The cover values entered in the sub-register shall be provided with serial numbers within the sub-register. The entries must contain the information in accordance with § § 9 to 14 and should reproduce the contents of the forms DR 1, DR 2 and DR 3 provided in the annexes 1 to 3 in a clear form. Unofficial table of contents

§ 5 completeness of the coverage register

(1) The entries may not be altered retrospectly, unless they are typographical errors, invoice errors or similar obvious inaccuracies. (2) Entries shall be made permanently in such a way as to ensure that any such entries may be made. subsequent changes can be detected at any time. Technical and organisational measures shall ensure that the original content remains detectable.

Part 2
Additional requirements for electronic register management

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§ 6 General requirements

(1) The content of an electronically-controlled register must be permanently archived in a readable form and be archived permanently in a revision-proof manner. (2) The content of the electronic coverage register must be kept on the screen and in the Printing can be made visible in a way that completely reflects the entries in terms of form and content. The electronic coverage register must be able to be fully printed at any time. Unofficial table of contents

§ 7 Technical and organizational measures to ensure data protection and data security

(1) The data processing systems used shall be in accordance with the state of the art and the requirements of the Appendix to § 9 sentence 1 of the Federal Data Protection Act. In particular, they must ensure that:

1.

their functions can only be used if the user is certain to be able to identify themselves to the system (identification and authentication),

2.

the granted user rights are managed in the system (authorization management),

3.

the granted user rights are checked by the system (authorization check),

4.

All accesses (entering, reading, copying, changing, deleting, locking) are logged in an audit-proof way (revision capability),

5.

can be restored without security risks (reprocessing),

6.

any falsifications of the stored data can be immediately noticed by technical inspection mechanisms (unadultated) and

7.

any malfunctions occurring are reported immediately (reliability).

(2) The Pfandbrief Bank shall keep at least one full backup copy of each electronically-controlled register. The backup copy shall be stored on a different data medium than the cover register and at least at the end of each working day to the level which the coverage register shall have at that time.

Part 3
Contents of the entries

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§ 8 General requirements

(1) It is necessary to ensure that cover values are entered in the first place if all the conditions for the inclusion of such cover are met. Redated entries are not allowed. (2) Each cover value shall be entered with a serial number within the cover register. The number may not be re-awarded after the cover value has been deleted. (3) A column of the main and sub-registers shall be provided for each of those comments which are intended to provide a clear legal classification of the cover value in addition to the other information. is required or can facilitate the allocation significantly. Unofficial table of contents

Section 9 Registration of mortgages and basic debt in Germany

Entries in the domestic mortgage and basic debt shall be carried out in accordance with the DR 1 form shown in Appendix 1:

1.

Columns 1 to 4 are to be overwritten with the "designation of the cover value". In column 1, point (a) shall specify the serial number within the coverage register, under point (b) the file number issued by the Pfandbrief bank, and under (c) the entry date.

2.

In column 2a, the loaded land or the right of the land is to be entered. Either the name can be taken from the inventory of the basic book or referred to the basic book sheet. In the latter case, the address of the land shall also be indicated. In column 2b, the exposure value assumed in the case of the cover-up shall be entered.

3.

In column 3, the basic right of maintenance is to be entered. Indicate the serial number under which the basic right to land is entered in the land register, the currency and the nominal amount entered in the land register.

4.

If the mortgage is not a mortgage, the secured personal claim must also be entered in column 4. Specify the debtor, the currency, the nominal amount, and, if different from the reference number in column 1 (b), the loan number.

5.

Delete notices are to be entered in column 5. Specify the column number and, where applicable, the amount of the registration to be deleted and the date of deletion. In addition to the deletion note in column 5, if the deletion is noted at a separate point in the register, at least the information on the cover value to be deleted in columns 1 and 2a shall be repeated. The signature of the trustee pursuant to section 8 (4) sentence 2 of the Pfandbrief Act must be clearly assigned to the respective deletion note of the Pfandbrief bank. In the case of a clear indication of the cover value to be deleted, the trustee's consent may also be given on a separate sheet which is not part of the coverage register.

6.

If the cover value is entered in a refinancing register according to § 22a or § 22b of the Banking Act, this is to be noted in column 6. The register-leading company and the date of entry in the refinancing register shall be indicated.

7.

If, according to the first sentence of Section 5 (1a) of the Pfandbrief Act, registered values are only partly intended to cover the Pfandbriefe, precise information on the extent of the part and its rank intended for cover is not intended to be covered by the Pfandbriefe. Part in column 6.

8.

If registered values are managed in whole or in part by the Pfandbrief Bank as trustee in accordance with Section 5 (1a) sentence 4 of the Pfandbrief Act, exact information on the creditor of the transfer claim in column 6 shall be recorded; with partial the fiduciary administration shall apply in accordance with paragraph 7.

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Section 10 Registration of foreign security rights

(1) Deposits of foreign security rights shall be made in accordance with the entries in the domestic mortgages and basic debts according to § 9. (2) Insofar as the designations of the land or the same rights or the designations the foreign security rights in the respective public registers differ from the designations in accordance with the basic book order, the names actually used in the public registers are to be used. The columns 2a and 3 of the form DR 1 are to be adapted accordingly. If columns 2a and 3 are not sufficient for the subsequent entry into the public register because of the local characteristics of the registration, leaflets may be added which become part of the coverage register. The leaflets shall be marked with the serial number from column 1 (a). (3) Where land situated abroad is not covered by public registers, the address, size and those within each of the relevant documents shall be indicated in the following paragraphs. Legal order to enter into common information enabling a clear identification of the land. Unofficial table of contents

Section 11 Registration of cover values in accordance with § 20 (1) of the Pfandbrief Act

In accordance with the form DR 2 of the Pfandbrief Act (Pfandbrief Act) in accordance with Section 20 (1) of the Pfandbrief Act (Pfandbrief Act), the following must be applied:

1.

Columns 1 to 3 are to be overwritten with the "designation of the cover value". In column 1, in point (a), the serial number of the registration in the coverage register, under point (b), shall be entered in the internal file number of the institute and the date of entry under (c).

2.

In column 2, the debtor shall be entered, specifying the loan number, in the case of securities of the securities identification number.

3.

Column 3 shall specify the currency and the nominal amount of the claim and, in the case of full warranty, the body which has issued the approval or guarantee.

4.

Delete notices must be entered in column 4, indicating the date. In addition to the deletion note in column 4, if the deletion is noted at a separate location in the register, at least the information on the value to be deleted in columns 1 and 2 shall be repeated. Section 9, no. 5, sentences 4 and 5 shall apply accordingly.

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§ 12 Registration of cover values in accordance with § 21 and § 26 (1) No. 1 of the Pfandbrief Act

(2) In column 2a, the name of the contaminated land shall be replaced by the name of the item under the title of the subject of the Pfandbrief Act. the ship or ship in the public register and the name of the register and the register. In the case of rights in rem in accordance with Section 22 (5) of the Pfandbrief Act, which do not serve to secure a personal claim, as well as in the case of abstract debt promises or school dances, which are provided by ship mortgages , the underlying loan claims shall be entered in column 4. Section 9 (4), second sentence, shall apply accordingly. Unofficial table of contents

§ 12a Registration of cover values in accordance with § § 26a and 26f (1) No. 1 of the Pfandbrief Act

(1) The registration of cover values in accordance with § § 26a and 26f (1) no. 1 of the Pfandbrief Act shall be made subject to paragraph 2 in accordance with § 9. (2) In column 2a, the name of the contaminated land shall be replaced by the name of the the aeroplane in the public register and the name of the register and the register. In the case of conditional rights pursuant to Section 26b (5) of the Pfandbrief Act, which do not serve to secure a personal claim, as well as in the case of abstract debt promises or school dances, which are provided by register rights according to § 1 of the Law relating to rights to aircraft or to foreign aircraft mortgages, the underlying loan requirements are to be entered in column 4. Section 9 (4), second sentence, shall apply accordingly. Unofficial table of contents

§ 13 Registration of claims from derivative transactions

The registration of the claims from derivatives transactions in the respective sub-register shall be carried out in accordance with the DR 3 form shown in Appendix 3 by registering the derivatives in the following manner:

1.

Columns 1 through 8 are to be overridden with the "name of the cover value". Column 1 shall contain, in point (a), the serial number within the coverage register and, in point (b), the registration date, column 2, the registration number of the Pfandbrief bank.

2.

The name and address of the contracting party shall be entered in column 3.

3.

Column 4 contains the name of the product and contains product-specific information such as the amounts and currencies of the capital exchange, the level of interest rates and, where appropriate, further information necessary for the clear identification of the contract.

4.

In column 5, the registration number of the contract partner is entered.

5.

In column 6, point (a) shall contain the date of the individual accounts, the maturity under point (b) and the due date under (c).

6.

In column 7, the assets held by the Pfandbrief bank by the contracting party as collateral for claims arising from the derivatives business shall be entered.

7.

In column 8, the trustee may give the consent required under Section 5 (1) sentence 2 of the Pfandbrief Act by means of a name signature. If the derivative is clearly named, the trustee's consent may also be given on a separate sheet which is not part of the coverage register.

8.

Delete notices must be entered in column 9, indicating the date. In addition to the deletion note in column 9, if the deletion is noted at a separate point in the register, at least the information on the value to be deleted in columns 1 to 3 and 6 shall be repeated. Section 9, no. 5, sentences 4 and 5 shall apply accordingly.

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§ 14 Registration of cover values in accordance with § 4 (1) sentence 2, § 19 (1) No. 1 and 2, § 20 (2) No. 2 and § 26f (1) no. 2 and 3 of the Pfandbrief Act

The application of cover values in accordance with § 4 (1) sentence 2, § 19 (1) No. 1 and 2, § 20 (2) No. 2 and § 26f (1) No. 2 and 3 of the Pfandbrief Act are to be carried out in principle in accordance with § 11, unless the clear identification of the Cover values other or additional information is required. In the case of cover values in accordance with Section 4 (1) sentence 2 no. 1 of the Pfandbrief Act, the special form of debt must also be identified. In the case of § 4 (1) sentence 2 no. 3 of the Pfandbrief Act, the account number must be named instead of the debtor and the bank account number.

Part 4
Records and confirmations pursuant to § 5 paragraph 2 of the Pfandbrief Act

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§ 15 Form of recording and transmission

(1) The recording in accordance with Section 5 (2) of the Pfandbrief Act shall fully reflect all entries which have been made in the coverage registers during the last calendar half-year. The individual pages of the recording shall be numbered consecutively and shall be fixed together in a suitable manner. (2) The Pfandbrief bank shall carry out an electronic coverage register, the record may be produced by the registration of the entries. of the last calendar half-year. The term is to be marked as such and to be provided with the date of the data retrieval. (3) The entries can also be transmitted by means of suitable, not more than once, recordable data carriers. If in this case the cover registers are transmitted in full, the entries of the last calendar half-year are to be made particularly marked. Unofficial table of contents

§ 16 Confirmation of trustees

(1) The trustee has to confirm that the recording in accordance with § 5 para. 2 of the Pfandbrief Act completely reproduces the entries of the last calendar half-year and agrees with them in terms of content. Even in the case of the transmission of the complete coverage registers in accordance with Section 15 (3) sentence 2, the confirmation shall only apply to these entries. (2) The trustee may also agree on the completeness and content of the contents by means of a appropriate sample. In so far as he makes use of this possibility, he shall be responsible for this in the context of his confirmation. The sample is to be documented in a comprehensible way, the appropriateness must be substantiated. (3) Write errors, invoice errors and similar obvious inaccuracies may only be corrected by the Pfandbrief bank. (4) The confirmation has written shall be made. § § 126 and 126a of the Civil Code shall apply accordingly. In the case of the transmission in accordance with section 15 (3), the trustee shall additionally have on a sticker to be applied on the data carrier, which must be permanently connected to the data carrier in such a way that it cannot remove itself without discernible damage Shall be accompanied by its name signature. Unofficial table of contents

§ 17 Storage by the Federal Institute

The Bundesanstalt has to keep records for 50 years. The records shall be specially protected from unauthorised access and from damage or destruction caused by external actions. The powers to access the records shall be limited to certain employees of the Federal Institute.

Part 5
Final provisions

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Section 18 Transitional provisions

(1) Cover registers which the institutions have already carried out before the entry into force of this Regulation on the basis of statutory provisions and which permit a clear allocation of the registered cover values in a clear way, shall be permitted up to 31 December 2008. The report will be continued in the previous way. Thereafter, the requirements of this Regulation shall apply only to cover values to be re-entered. (2) It is permissible to carry out the electronic cover register only for the cover values to be added as from the date of its introduction. The relevant date shall be indicated in the paper form as well as in the electronic part of the cover register. The uniformity of the coverage register shall be established by clear references to the constituents kept in paper form. Unofficial table of contents

Section 19 Entry into force

This Regulation shall enter into force on the day following the date of delivery. Unofficial table of contents

Appendix 1 (to § 9)

... (non-representable form DR 1 cover register (mortgages)
Fundstelle: BGBl. I 2006, 2078 Unofficial table of contents

Appendix 2 (to § 11)

... (non-representable form DR 2 Deckungsregister (Kommunal)
Fundstelle: BGBl. I 2006, 2078 Unofficial table of contents

Appendix 3 (to § 13)

... (non-representable form DR 3 sub-register for the cover register (mortgages)/(communal)/(ship mortgages)
Fundstelle: BGBl. I 2006, 2078
with regard to of the individual amendments. Footnote)