Pfandbriefe are covered bonds issued on the basis of the German Pfandbrief Act, which are used to refinance loans for which collateral is pledged in the form of real estate liens (mortgage Pfandbriefe), state and municipal loans (public Pfandbriefe) or other such secured loans (ship or aircraft Pfandbriefe). The legal requirements for nominal and net present value over-collateralisation make this form of investment so secure. Consequently, the asset’s eligibility as trustee security is given. The ECB eligibility of many titles guarantees the high liquidity of Pfandbriefe.

We broker Pfandbriefe in bearer or registered form in the primary market and in the secondary market as structured or unstructured titles.

More information on the German Pfandbrief market can be found on the website of the Association of German Pfandbrief Banks (Verband Deutscher Pfandbriefbanken).