The Pfandbrief 2011 | 2012

More documents

Recommendations

Info

The Legal Framework for Issuing Pfandbriefe Jens Tolckmitt, Dr. Otmar Stöcker | Association of German Pfandbrief Banks 6
Pfandbriefe are covered interest-bearing bonds. They are issued by credit institutions with a license to engage in Pfandbrief business (Pfandbrief Banks) and placed on the capital market. These credit institutions use them to fund certain loans that are secured by real estate liens, ship mortgages, aircraft mortgages and claims against public-sector bodies. Depending on the type of collateralization, these bonds are referred to as Mortgage Pfandbriefe, Ship Pfandbriefe, Aircraft Pfandbriefe or Public Pfandbriefe respectively. Most Pfandbriefe are issued in the form of bearer bonds, followed by registered bonds. Structure of a Pfandbrief Bank General supervision based on the German Banking Act (KWG) Other banking activities not eligible as cover Other funding 7 Special supervision of Pfandbrief Banks on the basis of the Pfandbrief Act (PfandBG) Mortgage loans – commercial – residential 60 % of the mortgage lending value Mortgage Pfandbrief KWG Public-sector loans 100 % of the loans Public Pfandbrief KWG Ship finance 60 % of the mortgage lending value Ship Pfandbrief PfandBG Aircraft finance 60 % of the mortgage lending value Cover pool monitor audits cover assets Aircraft Pfandbrief PfandBG The Pfandbrief Bank grants property finance, ship loans, aircraft loans and public-sector loans. These assets are reported in the credit institution's balance sheet. The cover pool monitor enters loans or parts of loans that are eligible as cover under the Pfandbrief Act into the respective cover register – together with the collateral for them – which the cover pool monitor watches over. A separate register is maintained for each loan type. In their entirety, the cover assets entered in one cover register are referred to as the cover pool. Pfandbriefe are issued on the basis of the cover pools. The Pfandbrief Bank undertakes to pay the Pfandbrief bearers the promised interest and, at maturity, to repay the principal amount of the Pfandbrief. In the event of the Pfandbrief Bank's insolvency, the Pfandbrief bearers have a preferential claim in respect of the assets entered in the cover registers. The cover pools and the Pfandbriefe are not included in the insolvency proceedings under the insolvency administrator, but are managed separately by the cover pool administrator.
Page 1 and 2: The Pfandbrief 2011 | 2012 Facts an
Page 3 and 4: The Association of German Pfandbrie
Page 5 and 6: Member Institutions of vdp 84 Aarea
Page 7: Jan Bettink | president framework i
Page 11 and 12: the special supervision of Pfandbri
Page 13 and 14: Claims against Public-Sector Entiti
Page 15 and 16: are not eligible as cover. These re
Page 17 and 18: and to meet liquidity management co
Page 19 and 20: Ring-Fencing of the Cover Pools The
Page 21 and 22: all. Instead, they are part of the
Page 23 and 24: In changeable times, investors look
Page 25 and 26: Monthly sales of new issues in 2010
Page 27 and 28: Pfandbrief-Bund-Spreads in % 200 18
Page 29 and 30: vdp Initiative for the Improvement
Page 31 and 32: As a reaction to the problems and r
Page 33 and 34: The The significance of common equi
Page 35 and 36: waiving exemption from retroactive
Page 37 and 38: For banks specialising in public se
Page 39 and 40: Solvency II is intended to reform t
Page 41 and 42: Spread and counterparty risk The eq
Page 43 and 44: Counterparty default risk Mortgage
Page 45 and 46: liabilities and which plan to optim
Page 47 and 48: “Benchmarks” are reference or c
Page 49 and 50: account of its macro strategy, has
Page 51 and 52: iBoxx COVERED BOND INDICES (JUNE 20
Page 53 and 54: EuroMTS Index The EuroMTS Covered B
Page 55 and 56: eb.rexx INDEX FAMILY eb.rexx Overal
Page 57 and 58: The question of the ETF’s replica
Page 59 and 60:
Cover Ausgehend assets von from ein
Page 61 and 62:
Michael Schulz, NordLB; Bodo Winkle
Page 63 and 64:
BW: The German mortgage lending val
Page 65 and 66:
What, in your opinion, will investo
Page 67 and 68:
The fallout of the financial and ec
Page 69 and 70:
cue fund, first and second economic
Page 71 and 72:
Latest Developments on the Rental M
Page 73 and 74:
Driven by such healthy fundamentals
Page 75 and 76:
Residential Properties The German r
Page 77 and 78:
It is time for new priorities in th
Page 79 and 80:
explain the new assumptions and the
Page 81 and 82:
tion in the industry outlook in one
Page 83 and 84:
Reduce the Significance of External
Page 85 and 86:
84 Aareal Bank | Wiesbaden 86 Bayer
Page 87 and 88:
Aareal Bank AG Paulinenstrasse 15 6
Page 89 and 90:
BayernLB Brienner Strasse 18 80333
Page 91 and 92:
Berlin-Hannoversche Hypothekenbank
Page 93 and 94:
Bremer Landesbank Kreditanstalt Old
Page 95 and 96:
COREALCREDIT BANK AG Corealcredit H
Page 97 and 98:
DekaBank Deutsche Girozentrale Main
Page 99 and 100:
Deutsche Apotheker- und Ärztebank
Page 101 and 102:
Deutsche Genossenschafts-Hypotheken
Page 103 and 104:
Deutsche Hypothekenbank (Actien-Ges
Page 105 and 106:
Deutsche Kreditbank AG Taubenstrass
Page 107 and 108:
Deutsche Pfandbriefbank AG Freising
Page 109 and 110:
Deutsche Postbank AG Friedrich-Eber
Page 111 and 112:
Deutsche Schiffsbank AG Domshof 17,
Page 113 and 114:
Dexia Kommunalbank Deutschland AG C
Page 115 and 116:
Düsseldorfer Hypothekenbank AG Ber
Page 117 and 118:
DVB Bank SE Platz der Republik 6 60
Page 119 and 120:
Eurohypo Aktiengesellschaft Helfman
Page 121 and 122:
Hamburger Sparkasse AG Adolphsplatz
Page 123 and 124:
HSH Nordbank AG Gerhart-Hauptmann-P
Page 125 and 126:
ING-DiBa AG Theodor-Heuss-Allee 106
Page 127 and 128:
Kreissparkasse Köln Neumarkt 18 -
Page 129 and 130:
Landesbank Baden-Württemberg Am Ha
Page 131 and 132:
Landesbank Berlin AG Alexanderplatz
Page 133 and 134:
Landesbank Hessen-Thüringen (Helab
Page 135 and 136:
M.M.Warburg & CO Hypothekenbank AG
Page 137 and 138:
Münchener Hypothekenbank eG Karl-S
Page 139 and 140:
Nord/LB Norddeutsche Landesbank Gir
Page 141 and 142:
SaarLB Landesbank Saar Ursulinenstr
Page 143 and 144:
SEB AG Ulmenstrasse 30 60325 Frankf
Page 145 and 146:
Sparkasse KölnBonn Hahnenstrasse 5
Page 147 and 148:
UniCredit Bank AG (former Bayerisch
Page 149 and 150:
VALOVIS BANK AG Theodor-Althoff-Str
Page 151 and 152:
Westdeutsche ImmobilienBank AG Gros
Page 153 and 154:
WestLB AG Herzogstrasse15 40217 Dü
Page 155 and 156:
WL BANK AG Westfälische Landschaft
Page 157 and 158:
Wüstenrot Bank AG Pfandbriefbank H
Page 159 and 160:
IKB Deutsche Industriebank AG Wilhe
Page 161 and 162:
Other Pfandbrief Issuers 2010 As at
Page 163 and 164:
Moody’s rating for a covered bond
Page 165 and 166:
Topics covered in 1996 - 2010 1996
Page 167 and 168:
2006 — The Pfandbrief Market 2005
Page 169 and 170:
167
Page 171:
Head Office Brussels Office Liaison
show all

The Pfandbrief 2011 | 2012

Create successful ePaper yourself

Delete template?

Save as template?