Pfandbrief Act
| Basic data | |
|---|---|
| Title: | Pfandbrief Act |
| Abbreviation: | PfandBG |
| Type: | Federal law |
| Scope: | Federal Republic of Germany |
| Legal matter: | Business Law , Debt Securities Law |
| References : | 7628-8 |
| Issued on: | May 22, 2005 ( Federal Law Gazette I p. 1373 ) |
| Entry into force on: | July 19, 2005 |
| Last change by: |
Art. 97 G of November 20, 2019 ( Federal Law Gazette I p. 1626, 1685 ) |
| Effective date of the last change: |
November 26, 2019 (Art. 155 G of November 20, 2019) |
| GESTA : | B030 |
| Weblink: | Text of the law |
| Please note the note on the applicable legal version. | |
The Pfandbrief Act (PfandBG) is a German law that the legal basis of the issue of mortgage bonds regulates.
On July 19, 2005, the Pfandbrief Act replaced, in particular, the Act on Pfandbriefe and related debt securities issued by public-law credit institutions (ÖPG) of December 21, 1927 ( RGBl. I p. 492), the Mortgage Bank Act and the Ship Bank Act (SchBG) of August 14 1933 (RGBl. I p. 583).
In a draft of the Federal Government of June 2008 for the amendment of the Pfandbrief Act, the collateralisation of aircraft financing was also provided for for the first time. With the law on the further development of Pfandbrief law of March 20, 2009 ( Federal Law Gazette I p. 607 ), the Aircraft Pfandbrief was then introduced on March 26, 2009 ( Sections 26a to 26f PfandBG). In addition to individual measures to further improve the Pfandbrief quality, this amendment brought administrative simplifications that have no impact on the Pfandbrief security.
To cover Pfandbriefe, Section 4 (2) of the PfandBG stipulates that the respective total amount of the Pfandbriefe of one type in circulation must be covered at all times by mortgages of at least the same amount, even in the amount of their nominal value ( coverage congruence ). This is to be monitored by a trustee ( § 8 PfandBG).
Several ordinances have been derived from the Pfandbrief Act ; for the case of valuations of certain objects to be lent , these are the lending value determination ordinance (BelWertV) of May 12, 2006 ( Federal Law Gazette I p. 1175 ), the ship loaning value determination ordinance (SchiffsBelWertV) of May 6, 2008 ( Federal Law Gazette I p. 851 ) and the aircraft loan valuation ordinance (FlugBelWertV) of April 20, 2009 ( BGBl. I p. 1036 ).
Web links
Individual evidence
- ↑ Handelsblatt of July 1, 2008, p. 27.
