No BITES
MORE

Drv Agreement

September 18, 2021

The BSA obliges the parties to agree on a reference rate for the calculation of interest on the guarantees issued. At present, by far the most common reference rate is the euro overnight index Average (EONIA). In addition, EONIA is used for resolution under the German framework contract for securities lending and the German framework contract for repo operations, also published by the banking association. EONIA is also often mentioned by the parties to these framework contracts in additional tailor-made provisions. If you have accumulated periods of insurance in a country with which the Federal Republic of Germany does not have a social security agreement, you must apply yourself to the competent foreign insurance institution. With which countries does Germany have social security agreements? You will find the contact persons for insured persons and pensioners in foreign liaison offices in our list of links of pension insurance institutions in other member countries and under contract: the United Kingdom of Great Britain and Northern Ireland (United Kingdom) left the European Union (EU) on 31 January 2020. Nevertheless, for the time being, European law remains in force as far as the United Kingdom is concerned. This is reflected in the withdrawal agreement negotiated between the EU and the UK, which entered into force on 1 February 2020. It is therefore important to bear in mind that German pension insurance rights are currently protected by the Brexit agreement by the withdrawal agreement.

The Federal Republic of Germany has currently signed a special agreement, the so-called delegation agreement, with the following country: therefore, you must always ensure that you declare all your periods of insurance in all Member States or in all contracting countries when you submit your application. The banking association has therefore prepared and organized the publication of a model amendment for the transition from EONIA to €STR. Although it seems complex at first glance, it follows a modular approach and can be adapted to the needs of the parties and their specific agreements by choosing different options. Options that are not chosen by checking the corresponding box simply do not apply. In addition, Section 4 of the Model Agreement provides for a derogation with regard to euro STR as an alternative reference framework, so that the requirement of the language of the case is respected.. . . .


Shez