A public bond is not securitized, but the creditor is entered in a debt register. In Germany, debt registers are subject to statutory debt register secrecy, which is basically the same as banking secrecy. – The right to claim entered in a federal or state debt register is also known as a right of value. In Germany, the provisions of the Custody Act apply to the custody and administration of debt register claims. – See Federal Republic of Germany Finance Agency, Federal Securities Administration, Fiscal Agent, uncertificated security right.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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