The vdp conveys the common standpoints of German Pfandbrief banks to legislators, the government, authorities, as well as banking and financial-sector institutions at the national, European and international levels. In addition, it informs the media and the public. Below you’ll find positions by the vdp on statutory changes that have an impact on Pfandbriefe and the underlying business sectors of Pfandbrief banks.
In favour of implementing Basel IV in Europe with a sense of proportion and sensitivity
Guest article by Jens Tolckmitt, Chief Executive Officer of the Association of German Pfandbrief Banks (vdp), Frankfurter Allgemeine Zeitung, 20 September 2019:
Tolckmitt appeals towards the European legislators to show more sensitivity in implementing Basel IV. The Pfandbrief banks plead for a literal implementation of the Basel agreements on the output floor.
250 years young and fit for the future
Dr. Louis Hagen, President, and Jens Tolckmitt, Chief Executive, of the Association of German Pfandbrief Banks (vdp) make their position very clear in the op-ed for the supplement "250 years of the Pfandbrief", which appears in the German financial daily Börsen-Zeitung on August 29, 2019. They stress the significance of tradition and innovation as they celebrate the Pfandbrief's 250th anniversary, and emphasize that the narrative of the Pfandbrief is not over yet.
Dr. Louis Hagen and Jens Tolckmitt: The success of the Pfandbrief and European Covered Bonds has many fathers
In the interview with monthly magazine Immobilien und Finanzierung on occasion of the 250th Pfandbrief anniversary the President and the CEO of the Association comment on essential milestones in Pfandbrief history and success factors in the truly successfull product history. They do touch upon regulatory challenges and perspectives and future product development, too.
Jens Tolckmitt Interview: “The stamp of the Pfandbrief Act is discernible”
After six years, the harmonization of European covered bond laws is on the home stretch. Now that the report of the European Parliament’s Committee on Economic and Monetary Affairs has been presented and the Member States in the Council are likely to reach an agreement this week, the trilogue negotiations come next.
Jens Tolckmitt: No justification for proposed capital requirements relating to non-performing real estate loans
The Brussels negotiations taking place in the European Council and Parliament on the Commission's proposal to tighten up requirements for the treatment of non-performing loans (NPLs) by banks and savings banks are well underway. The intention behind the provisions, as part of the proposals to revise the European Capital Requirements Regulation (CRR) that were put forward on 14 March 2018, is worthy of support in principle. The proposal does, after all, aim at avoiding large holdings of non-performing loans, which are currently very widespread on the balance sheets of some banks in certain European states, especially Greece, Cyprus, Portugal and Italy. As things stand at present, however, there is a risk that European regulations are created that will damage the business model of the German banking industry and consequently also Pfandbrief banks..
Dr. Louis Hagen: Regulatory environment is taking shape
It is now roughly a decade since the outbreak of the economic and financial crisis. However, the extensive changes to the regulatory environment which followed as a result and are having a lasting and massive impact on the business of banks are still underway. The future regulatory environment is increasingly taking shape: the European harmonization of covered bonds has seen significant progress and the Basel III reform project has been clearly mapped out and finalized. Yet other projects are still in the early stages, and new topics are on the horizon.