The following terms and conditions are to be observed in connection with the Open Market Tender Operation System; the relevant documents are available for download:

The guideline on the implementation of the Eurosystem monetary policy framework (authorized version of Guideline ECB/2014/60, ultimately amended by Guideline (EU) 2015/510) forms the framework for the monetary policy operations of the Eurosystem.

The General Terms and Conditions of the Deutsche Bundesbank transform the guideline of the Eurosystem into national law and govern the fundamental legal relationship between the Deutsche Bundesbank and the bidders. They form the external framework for OMTOS.

The auction terms govern the details of the bidding process in OMTOS.

The General Terms and Conditions for the Bundesbank ExtraNet set the framework for the use of the Bundesbank ExtraNet, which is used to access OMTOS; these are supplemented by section 1 (3) of the auction terms ("Access to OMTOS"), so that in particular the use of functional users as well as the possibility of transferring authorisation by changing the name and surname of the user is clearly ruled out in OMTOS.

The Deutsche Bundesbank’s terms and conditions for US dollar credit operations as part of a "Special facility of the Eurosystem" govern the US dollar liquidity-providing operations in the form of repurchase operations against ECB-eligible collateral.

The special terms and conditions of the Deutsche Bundesbank for targeted longer-term refinancing operations of the Eurosystem govern the targeted longer-term refinancing operations. These are carried out temporarily as an addition to the existing monetary policy operations.

Note on the user management

At this point, we draw your attention to the fact that changing the surname and first name of the user, thereby affecting the user ID, which is technically feasible in ExtraNet and described in the documentation, is expressly forbidden by the Special Rules on OMTOS supplementing the ExtraNet General Terms and Conditions. The same applies to the use of the function user, which also part of the ExtraNet technology.