Swiss strengthen Pfandbrief law

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By Bill Thornhill
06 Jul 2020

The Swiss government has recently approved draft amendments to its Pfandbrief law that will increase transparency and legal certainty, reducing the risk of a fire sale and payment default.

On June 19, the Swiss government approved the amended Pfandbrief Act which is expected to come into effect in 2022. 

The amendments  increase likelihood that Switzerland's two covered bond issuing institutions, Pfandbriefbank Schweizerischer Hypothekarinstitue (PBH) and Pfandbriefzentrale der schweizerischen Kantonalbanken (PBZ), are able to withstand a default of a member bank, ...

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