Tradition and innovation – the anniversary of the Pfandbrief.
Frederick the Great, King of Prussia, laid the statutory foundation for the very first Pfandbrief issue back in 1769. Something that was initially intended to give cash-strapped landowners access to long-term capital became fundamental in financing subsequent economic growth and developing Germany’s status as a financial centre. Reason enough to pay special tribute to the Pfandbrief as it marks its 250th anniversary.
Milestones in the history of the Pfandbrief
In the course of its 250-year history, the Pfandbrief has evolved into one of Germany’s top financial exports and is rightly regarded as playing a leading role in shaping the European covered bond market. The Pfandbrief has also had a significant impact on Germany’s long-term culture in the financing of real estate and local authorities, and has since established itself as an indispensable element of the strategic refinancing mix within the banking industry. A brief and concise overview of the various milestones in the history of the Pfandbrief can be found here.
Prominent voices talk about the 250th anniversary
The #vdpsagtdankefritz campaign provided a forum for prominent voices from the worlds of politics, the supervisory authorities and business. They shared their personal opinions regarding the Pfandbrief in brief statements and interviews. The campaign featured a wide range of voices, testimony to the fact that the number of active issuers has grown continuously since the introduction of the Pfandbrief Act (Pfandbriefgesetz) in 2005.