Deutscher rahmenvertrag

The Jolly Contrarian’s Glossary The snippy guide to financial services lingo.™ Go Premium Index — Click the ᐅ to expand: Glossary Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

The deutscher rahmenvertrag 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:

• Deutscher Rahmenvertrag für Finanztermingeschäfte (Derivatives and Futures)
• Deutscher Rahmenvertrag für Wertpapierpensionsgeschäfte (Repo)
• Deutscher Rahmenvertrag für Wertpapierdarlehen (Stock lending)

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