Pfandbrief business is
1. the issuing of covered bonds on the basis of mortgages acquired under the term “Pfandbriefe”
or “Hypothekenpfandbriefe” (Mortgage Pfandbriefe) (hereinafter referred to as
Mortgage Pfandbriefe),
2. the issuing of covered bonds on the basis of claims acquired against public-sector bodies
under the term “Kommunalschuldverschreibungen”, “Kommunalobligationen” (publicsector
bonds) or Öffentliche Pfandbriefe (Public Pfandbriefe) (hereinafter referred to as
Public Pfandbriefe),
3. the issuing of covered bonds on the basis of ship mortgages acquired under the term
“Schiffspfandbriefe” (Ship Pfandbriefe).
4. the issuing of covered bonds on the basis of registered liens acquired in accordance with
§ 1 Law on Rights in Aircraft (LuftFzRG) or foreign aircraft mortgages under the term
“Flugzeugpfandbriefe” (Aircraft Pfandbriefe)