The T&Cs changes apply to GE Bundesbank's business partners insofar as they will affect companies and public administrations, as agreed from May 6, 2024.
Changes to General Terms and Conditions will be published in the Federal Gazette by Apr. 5, 2024 at the latest, and members will be able to view compilation of changes.
GE Bundesbank directs members to view the relevant page on its website of revisions.
May 2024 Terms and Conditions Published
On May 6, 2024, GE Bundesbank published its General Terms and Conditions, V5 as previously notified in Mar. 2024, containing relevant requirements from May 6, 2024.
Oct. 2024 Changes to General Terms, Conditions
On Oct. 9, 2024, GE Bundesbankannounced changes to general terms and conditions (GTC) from Dec. 1, 2024; changes agreed with GE Bundesbank business partners from that same date, insofar as they affect companies and public administrations.
Among other changes, new rule 29 on the obligation of the bank to disclose individual data on deposits/accounts held with it to the ECB was added to the terms, conditions.
In section X Foreign exchange and foreign transactions, subsection C number 5, paragraph 2, the name Procedural rules of the Deutsche Bundesbank for processing same-day payments in euros and payments in foreign currencies using the individual house bank procedure (HBV-Individual procedural rules) is replaced by Procedural rules of the Deutsche Bundesbank for processing liquidity transfers between endowment accounts and TARGET (procedural rules for endowment accounts).
Related circular 65/2024 states that changes to GTC will be published in the Federal Gazette no later than Oct. 30, 2024, and from that date at latest a compilation of the changes with brief explanations and currently valid version of the GTC will be here.
Regulators
GE Bundesbank
Entity Types
Bank; Depo; FDM; Inv Co
Reference
Cir 65/2024, Nt 2002/2024, 10/9/2024; Info 5/6/2024; Cir 22/2024, 3/26/2024; Nt 2001/2024, 3/25/2024
