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Pfandbrief Characteristics

  • Manuela Spangler
Chapter
Part of the Mathematische Optimierung und Wirtschaftsmathematik | Mathematical Optimization and Economathematics book series (MOW)

Abstract

In this chapter we start with an introduction to the main characteristics of Pfandbriefe and discuss the risks associated with the product from an investor’s point of view. Our focus is on the two most common Pfandbrief types in Germany, the Mortgage Pfandbrief and the Public Pfandbrief. In Section 2.3 we then derive implications for Pfandbrief modelling by identifying the most important features which should be accounted for by a realistic Pfandbrief model. For a structured in-depth analysis of the legal framework and the risks inherent in a Pfandbrief, we refer to Spangler and Werner [145] and the extensive collection of Pfandbrief-related literature listed therein.

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Copyright information

© Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Institute of Mathematics, Business MathematicsUniversity of AugsburgAugsburgGermany

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