Deutscher rahmenvertrag

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The Deutscher Rahmenvertrag[1] is the German master agreement, also known as the “DRV” or just the plain old “rahmenvertrag” (literally “framework agreement”) comes in at least three varieties, all governed by German law. I know very little about them, other than their names, and that they are used for swaps, repo and stock lending:

The DRV has a collateral annex the Besicherungsanhang für Variation Margin which, charmingly, translates as “safety attachment”.

References

  1. Not, ahhh, to be confused with the Deutscher Radfahrer-Verband, the cycling unit of the sports office of a certain earlier German political regime.