The Association of German Pfandbrief Banks (german: Verband deutscher Pfandbriefbanken, ''vdp'') is the interest group of the
Pfandbrief
The Pfandbrief (plural: Pfandbriefe), 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 pu ...
(
covered bond Covered bonds are debt securities issued by a bank or mortgage institution and collateralised against a pool of assets that, in case of failure of the issuer, can cover claims at any point of time. They are subject to specific legislation to protect ...
) banks. It represents the foremost financiers for residential and commercial construction as well as the state and its institution, vdp member institutions are also engaged in ship and aircraft finance. The bond banks associations takes the judicial form of an
Eingetragener Verein
An (; "registered association" or "incorporated association"), abbreviated (), is a legal status for a registered voluntary association in Germany. While any group may be called a , registration as confers many legal benefits, because it con ...
(registered association). The association was named Verband deutscher Hypothekenbanken (association of
hypothecation
Hypothec (; german: Hypothek, french: hypothèque, pl, hipoteka, from Lat. ''hypotheca'', from Gk. : hypothēkē), sometimes tacit hypothec, is a term used in civil law systems (e.g. law of entire Continental Europe except Gibraltar
)
, ...
banks) until July 2005.
Organization
The association represents 40 member institutions
and it is one of the five members of the
German Banking Industry Committee
The German Banking Industry Committee (GBIC) (german: Die Deutsche Kreditwirtschaft / ''DK''), known until 2011 as the Central Credit Committee (german: Zentraler Kreditausschuss / ''ZKA'') is an industry association of the German banking industry. ...
that is defining the standards of the German financing sector.
The bond banks association runs a number of subsidiaries for specialized task such as the "vdp Research GmbH" (vdpResearch), the "vdp Pfandbriefakademie GmbH" (Pfandbrief Academy), the "Hyp Real Estate Rating Services GmbH" (HypRating) and the "Hyp-Zert-Gesellschaft" that is certifying real estate agents to take part in the "Beleihungswertermittlungen mbH" (HypZert - mortgage estimates), with all of them located in Berlin.
References
External links
* http://www.pfandbrief.de
{{Authority control
Banking in Germany
Banking organizations