Logo - springer
Slogan - springer

Business & Management - Finance & Banking | German Covered Bonds - Overview and Risk Analysis of Pfandbriefe

German Covered Bonds

Overview and Risk Analysis of Pfandbriefe

Werner, Ralf, Spangler, Manuela

2014, IX, 82 p. 30 illus.

Available Formats:
eBook
Information

Springer eBooks may be purchased by end-customers only and are sold without copy protection (DRM free). Instead, all eBooks include personalized watermarks. This means you can read the Springer eBooks across numerous devices such as Laptops, eReaders, and tablets.

You can pay for Springer eBooks with Visa, Mastercard, American Express or Paypal.

After the purchase you can directly download the eBook file or read it online in our Springer eBook Reader. Furthermore your eBook will be stored in your MySpringer account. So you can always re-download your eBooks.

 
$39.99

(net) price for USA

ISBN 978-3-319-02553-7

digitally watermarked, no DRM

Included Format: PDF

download immediately after purchase


learn more about Springer eBooks

add to marked items

Softcover
Information

Softcover (also known as softback) version.

You can pay for Springer Books with Visa, Mastercard, American Express or Paypal.

Standard shipping is free of charge for individual customers.

 
$54.99

(net) price for USA

ISBN 978-3-319-02552-0

free shipping for individuals worldwide

usually dispatched within 3 to 5 business days


add to marked items

  • Comprehensive analysis of Pfandbrief-related risks and the legal framework of Pfandbriefe
  • Extensive list of more than 200 Pfandbrief-related references providing an ideal starting point for further research
  • First monograph (outside lobby and interest groups) on the German Pfandbrief, representing the only monograph with unbiased information on this product

The Pfandbrief, a mostly triple-A rated German bank debenture, has become the blueprint of many covered bond models in Europe and beyond. The Pfandbrief is collateralized by long-term assets such as property mortgages or public sector loans as stipulated in the Pfandbrief Act.

With a history that goes back to the 18th century and a high market share in today’s covered bond markets, the German Pfandbrief is the most established covered bond. Until today, no single Pfandbrief has ever defaulted.

Even though Pfandbriefe have survived the financial crisis comparably unharmed, investors have become more sensitive regarding the creditworthiness of the corresponding issuer and sovereign, the strength of the legal (or contractual) framework and the quality of the cover pool serving as collateral.

This monograph provides a structured in-depth analysis of the legal framework and the risks inherent in a Pfandbrief, taking into consideration recent market developments. Starting from the legal framework, the German Pfandbrief is introduced without requiring prior knowledge. Covered bond related risks are explained in detail and their relevance to the Pfandbrief is thoroughly discussed with focus on the two most common Pfandbrief types, mortgage and public Pfandbriefe. In addition to that, the monograph comes with an extensive collection of Pfandbrief-related literature and a glossary explaining the main technical terms.

Content Level » Research

Keywords » Covered Bond - Financial risk analysis - Legal framework - Pfandbrief

Related subjects » Finance & Banking - Financial Economics - Quantitative Finance

Table of contents / Preface / Sample pages 

Popular Content within this publication 

 

Articles

Read this Book on Springerlink

Services for this book

New Book Alert

Get alerted on new Springer publications in the subject area of Finance / Banking.