Ref. Ares(2018)3351066 - 25/06/2018
Ref. Ares(2019)4291643 - 05/07/2019
CHECKLIST
For reporting according to Regulation (EU) 1233/2011
I.
Reporting country information
Reporting Country
Germany
Submission Date
31.07.2016
Reporting Institution (Government
Federal Ministry of Economic Affairs and
Department, ECA)
Energy
II.
Reporting country legal and policy information
Mandate/Legal status of ECA
The Federal Government bears the budgetary
responsibility for the export credit guarantee
scheme. An Interministerial Committee (IMC) is
composed of representatives of the Federal
Ministry of Economic Affairs and Energy
(which chairs the Committee), Finance, Foreign
Affairs and Economic Cooperation and
Development and decides on all major
applications for cover. The IMC examines
questions of basic policy and oversees the
modernisation of the export credit guarantees. It
decides on cover policy, which stipulates the
scope and conditions of cover available for the
individual countries. When deciding whether or
not to grant cover, the principles of budget law,
which authorizes an amount for guarantees to
promote and support foreign trade, must be
complied with as well as international rules (in
particular the OECD Consensus). The Federal
Government has mandated the administration
and handling of the export credit guarantee
scheme to a private consortium comprising Euler
Hermes Aktiengesellschaft as lead partner and
PricewaterhouseCoopers
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft. The employees
of the mandated consortium in Hamburg and in
the branch offices are the contact persons for the
exporters and banks. They prepare decisions on
applications for the meetings of the IMC and
advise the Federal Government in their
decisions.
Officially
supported
export
credit
Wholeturnover and revolving cover
programs (in the sense of Article 5 of the
OECD Arrangement) during reporting
•
Wholeturnover Policy
period
•
Wholeturnover Policy light
•
Revolving Supplier Credit Cover
• Revolving Buyer Credit Cover
1
•
Framework Credit Cover
Single transaction cover
•
Supplier Credit Cover
•
Export Credit Cover for Service
Providers
•
Buyer Credit Cover
•
Buyer Credit Cover - express
•
Manufacturing Risk Cover
•
Constructional Works Cover
With special sectoral provisions for
Ships, Nuclear Power
Plants, Aircraft,
Renewable Energy Projects, Rail
Infrastructure, Coal-fired Electricity
Generation Projects, Project Finance,
Supplementary forms of cover
•
Credit Confirmation Risk Cover
•
Counter-Guarantee
•
Confiscation Risk Cover
•
Leasing Cover
•
Securitisation Guarantee
•
Securitisation Guarantee for the KfW
Refinancing Programme
•
Contract Bond Cover
Annual reports available on reporting year
Annual Report 2015
III.
Information on the reporting Member State’s Export Credit policies:
General presentation of the reporting MS’ The Federal Government attaches great
policies on export credits, including all importance to a
global and sustainable
information that can help the Commission
development. Apart from the economic effects
in carrying out its evaluation regarding the of an export transaction in Germany,
compliance of the Export Credit Agencies
environmental aspects in their wider sense, i.e.
with EU objectives and obligations1 (in the ecological, social and developmental effects in
sense of Article 3, Annex 1 of EU the country of the buyer are taken into account to
Regulation1233/2011)
determine whether it is eligible for support.
1 EP side suggested to use such a phrase (to ensure that it is not forgotten that the Regulation's official reference
is to "EU objectives and obligations)
2
Special information on the following
policies:
1) Environment:
a)
Do
you
apply
the
OECD Yes, Germany applies the revised 2012 OECD
Recommendation on Common Approaches Common Approaches (CA). Risks identified in
to the Environment and Officially the course of environmental and social due
Supported Export Credits?
diligence may have repercussions not only on the
(its successor instrument the OECD eligibility for support but also on the justifiability
Recommendation on Common Approaches of the risk involved in it. They have a major
on Officially Supported Export Credits and influence on the decision whether export credit
Environmental and Social Due Diligence?) cover is granted or not.
Germany is in favour of a further development of
b) any other relevant information
the CA to keep the sustainability framework
updated. Germany is actively involved in the
current discussions on adjustments to the CA on
EU and OECD level.
2) Human rights:
a) Do you apply the Human Rights related Yes. Germany applies the Human Rights related
aspects of the
aspects of the Common Approaches which are
Recommendation on Common
determined by the reference standards the
Approaches, on Officially Supported Common Approaches refer to.
Export Credits and Environmental and
Social Due Diligence?
Germany appreciates the direct reference which
is made to the application of Human Rights
b) Any other relevant information?
aspects in the environmental and social due
diligence in the revised 2012 Common
Approaches.
Moreover, Germany assesses risks when there is
information or reason to believe that human
rights are violated by the project, even if the
transaction does not fall under the scope of the
Common Approaches.
3) Anti-Bribery measures:
a)
Do
you
apply
the
OECD Yes. Germany applies the Recommendation on
Recommendation
on
Bribery
and Bribery and implemented a two-stage procedure:
Officially Supported Export Credits?
In a preliminary step, exporters and banks must
sign an anti-bribery declaration as part of any
b) Any other relevant information?
application for cover. In this declaration, the
company must confirm that the export or loan
contract has not arisen or will not arise as a result
of any criminal acts on the part of any of its
employees or anyone acting on its behalf. It must
in addition give detailed information on whether
any sanctions have been imposed on it under
criminal or civil law as a result of any incidence
of bribery during the past five years.
If any evidence of bribery-relevant circumstances
turns up as a result of this declaration or, for
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example, from investigations by the public
prosecutor or sanctions have been imposed under
criminal or civil law, a more detailed
examination, the “enhanced due diligence”, is
performed in a second step. It focuses on the
internal measures, processes and structures put in
place by the company in question to prevent and
combat bribery. Furthermore, the sales staff
involved in the transaction as well as the
commission and fee payments made are
examined. Normally, the compliance officers of
the companies concerned are also involved in the
process.
In this way, the Federal Government ensures that
exporters/banks
for
which
the
OECD
recommendation calls for an enhanced due
diligence are duly examined.
The Federal Government of Germany actively
supports all efforts aimed at combating bribery in
order to create transparent and fair trading
conditions and a level playing field. We have
gained a broad experience applying enhanced
due diligence to supported export transactions.
In connection with the granting of export credit
guarantees the Federal Government states:
• No export credit guarantees will be
granted for export transactions or loan
agreements the conclusion of which
involved any criminal acts such as
bribery.
• If it is proven later that corruption was
involved, the Federal Government can
invoke relief from liability pursuant to the
General Conditions.
Within this context the prevention of bribery is
also risk control. The Federal Government
therefore encourages export companies to
actively take up the subject and to set up internal
mechanisms designed to prevent corruption.
Measures to prevent bribery comprise exemplary
behaviour of the companies' managers and
regular training of the employees in addition to
drawing up a code of conduct.
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4) Sustainable Lending Practices:
a) Do you apply the OECD Principles and Yes. Germany only provides cover for export
Guidelines
to
Promote
Sustainable credits to public buyers in Low Income Countries
Lending Practices in the Provision of if they are in line with sustainable development
Official Export Credits to Low Income objectives of these countries.
Countries?
b) Any other relevant information?
5) Other policies
Smart Grids added to the OECD Sector
Understanding on Climate Change
Adopted in September 2015, the rule provides for
periods of up to 15 years for government-
guaranteed export credits in the case of
investments in smart grids. Smart grids ensure
optimum grid utilisation without compromising
reliability. Spending on such projects helps to
reduce emissions of greenhouse gases.
Further Development of the German export
credit guarantee scheme:
● The Federal Government has extended the term
of the programme offered by development bank
Kreditanstalt für Wiederaufbau (KfW) for
refinancing Hermes covered export credits until
the end of 2020 on unchanged terms.
● Working in close consultation with exporters
and banks, the Federal Government revised the
letter of undertaking. Explanations based on
practical experience and a clear structure makes
it easier to understand.
● In June 2015, the Interministerial Committee
revised the rules for federal government
participation in claims management costs. Under
the new rules, the Federal Government will bear
a portion of the external costs for claims
management
measures
taken
prior
to
indemnification if these measures are taken with
its approval or at its instigation and are
“extraordinary” and “considerable”, i.e. cost
more than 10,000 euros. The amount exceeding
10,000 euros is refundable.
● Since February 2015, exporters have been able
to submit a non-committal inquiry on-line to
determine whether a transaction is fundamentally
eligible for cover. This particularly reduces the
obstacles for companies requesting government
export credit cover for the first time. The
regional company advisors examine the planned
structure of the transaction on the basis of the
information provided in the initial inquiry and
advise exporters in a preliminary free discussion
in person. A final and legally binding decision on
the eligibility of a transaction for cover
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is made after an application is formally submitted
and examined by the Federal Government.
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IV.
Annual Activity Report data:
Explanatory note:
“MS shall report, in accordance with their national legislative framework, on assets and
liabilities, claims paid and recoveries, new commitments, exposures and premium charges."
From Regulation 1233/2011, Annex 1.
Member States that have more than one ECA should do one single integrated report (reporting
obligation is on the Member State as such, not the ECA). Where a MS offers at the same time
different types of products (pure cover and direct lending), the reporting under chapter IV
should however differentiate.
A) In case of official support is provided in the form of export credit guarantee or
insurance (“pure cover”) in the sense of Art 5 a 1) OECD Arrangement:2 in Million EUR
Overview of assets
./.
Overview of liabilities
./.
Aggregate nominal risk exposure
• 01-01-2015
EUR 88,467
• 31-12-2015
EUR 92,416
a.) nominal risk exposure under insurance
policies issued
• 01-01-2015
EUR 24,751
• 31-12-2015
EUR 25,832
b.) nominal risk exposure under promises
and notices of cover
• 01-01-2015
EUR 11,647
• 31-12-2015
EUR 9,124
Premium Income
EUR 541.8
Recoveries
EUR 285.7
Claims paid
EUR 395.1
B) In case official support is provided in the form of Official Financing Support in
the sense of Article 5a2) OECD Arrangement:
Overview of assets
n/a (no separate financial accounting)
Overview of liabilities:
n/a (no separate financial accounting)
a) nominal value of officially supported
Standard CIRR Programme
loan portfolio
(“ERP-Exportfinancing Programme”):
• 01-01-2015
EUR 3,022.9
• 31-12-2015
EUR 3,081.9
Ship financing CIRR:
• 01-01-2015
EUR 6,532.1
• 31-12-2015
EUR 9,214.2
b) total value of off balance commitments
• 01-01-2015
./.
• 31-12-2015
Interest received
n/a (no separate financial accounting)
Annual profit/loss
n/a (no separate financial accounting)
V.
Contingent liabilities
Where contingent liabilities might arise Not
from officially supported export credit applicable
activities, those activities shall be
reported:
2 Member States not using EUR should report the figures in their national currency and in EUR
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VI.
Evaluation and incorporation of environmental risks
Environmental risks:
The OECD Common Approaches are applied to
all applications with medium and long
repayment terms and an order value above SDR
10 million. In all, 146 applications with a total
volume of 21.7 billion euros underwent
preliminary screening, resulting in 56 in-depth
environmental
and
social
reviews
for
transactions with a volume of 9.4 billion euros
assigned to OECD Common Approaches
categories A and B.
In 2015, a final commitment was given for a
total of 37 Category A and B projects.
a) Number/exposure of transactions In 2015, new export credit guarantees were
Category A
issued for
14 Category A projects (cover
volume: 2,923.4 million euros) in the following
sectors
:
4 Power generation
2 Gas processing industry
4 Metal processing industry
4 Other industries
b) Number/exposure of transactions
In 2015, new export credit guarantees were
Category B
issued for 23
Category B projects (cover
volume: 1,084.5 million euros) in the following
sectors:
13 Power generation and distribution
(of which renewables: 12 projects –
599.6 million euros)
5 Wood processing and paper
2 Infrastructure
3 Metal processing industry
How are environmental risks, which can A prerequisite for granting cover is that the
carry other relevant risks, taken into export transaction is eligible for support and
account in the officially supported export involves a risk that is justified. In this context,
credit activities?
the environmental and social impacts (including
relevant human rights aspects) especially of
major, sensitive projects supported deliveries are
destined to play an important role as eligibility
criteria. They are either subject to the OECD
Common Approaches and the application of the
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international standards for due diligence
referenced in there or to risk assessments beyond
the scope of the CA. Risks identified in the
course of environmental and social due diligence
may have repercussions not only on the
eligibility for support but also on the
justifiability of the risk involved in it and are
often part of the critical issues discussed in the
IMC meetings. The Federal Government does
not want to support deliveries to projects which
may have serious adverse ecological, social or
developmental impacts. With regard to the
financial risks, Germany always assesses the
credit-worthiness of the foreign buyer and if
necessary the guarantor, the market situation and
the country risk.
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Document Outline