Vdp sets a common and comparable standard

Jens Tolckmitt, chief executive of The Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken,vdp) talks to The Cover about recent amendments to the Pfandbrief Act and how these dovetail with the Association’s own initiatives. Transparency requirements have been fine tuned to enable like-for-like comparison between different cover pools. New powers have been granted to the cover pool administrator, laying the basis for it to issue Pfandbrief and access repo funding – thus avoiding reliance on onerous third party liquidity arrangements and ensuring full and timely payment post- insolvency.