# Pfandbriefanstalten und Pfandbriefbanken (mortgage banks)

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- Post ID: 591716
- Modified: 2023-07-25T21:11:57+00:00
- Language: en

## Definition

Intermediaries between capital seeking investment and landowners in need of credit, which raise the funds required to grant mortgages on real estate by issuing bonds (mortgage bonds; Pfandbriefe, mortgage Pfandbriefe). - The mortgage bonds (mortgage bonds, covered bonds, debentures by mortgages) are marketable and therefore usually easy to liquidate. For the debtor, Pfandbrief law offers the advantage of a non-cancelable loan. - Since 2005, all banks in Germany have been allowed to issue Pfandbriefe after obtaining an appropriate emission license; until then, only certain institutions were allowed to do so. - See amortization, negative, loan-to-value, cover ratio, mortgage bank, mobile loan, Pfandbrief, real loan, securitization. - Cf. BaFin's 2004 Annual Report, pp. 105 et seq. (conditions for granting permission to issue Pfandbriefe); p. 107 (feared reduction in quality; supervisory coverage tests), pp. 119 (new market environment for traditional mortgage banks; foreign exposure); BaFin's 2005 Annual Report, pp. 11 ff. (experience with the new law); BaFin's 2007 Annual Report, pp. 124 f. (Pfandbrief market hardly affected by subprime crisis); BaFin's 2008 Annual Report, pp. 111 (amendment to the Pfandbrief Act), BaFin's 2010 Annual Report, p. 146 (number of Pfandbrief banks rising), pp. 150 ff. (business situation of Pfandbrief banks), and the respective BaFin Annual Report, chapter "Supervision of banks, financial service providers and payment institutions," ECB Monthly Report of August 2009, p. 18 ff. (legal differences between the mortgage markets in the euro area and the U.S.), BaFin's 2013 Annual Report, p. 94 (number of Pfandbrief banks; trends). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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