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Specialist principle comes under scrutiny

Headline: Specialist principle comes under scrutinySource: EuromoneyDate: April 2001         Otto Dichtl HypoVereinsbank’s decision to combine its mortgage banks under one roof has revived the long-running debate about the validity of the specialist bank principle – the foundation of Germany’s system of mortgage banks. They can issue Pfandbriefe by virtue of being […]

January 1, 2000

Headline: Specialist principle comes under scrutiny
Source: Euromoney
Date: April 2001

       
Otto Dichtl
HypoVereinsbank’s decision to combine its mortgage banks under one roof has revived the long-running debate about the validity of the specialist bank principle – the foundation of Germany’s system of mortgage banks. They can issue Pfandbriefe by virtue of being restricted to low-risk lending activities to the public sector and lending against property.

This system has guaranteed 100 years of top-quality, non-defaulting Pfandbriefe, but it is not flawless.





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