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Definition of 'Pfandbriefe'
A type of bond issued by German mortgage banks that is collateralized by long-term assets used. These types of bonds represent the largest segment of the German private debt market and are considered to be the safest debt instruments in the private market.
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Investopedia explains 'Pfandbriefe'
The Pfandbriefe class of debt is similar to mortgage-backed securities in the United States. The term Jumbo Pfandbriefe is used to refer to the larger, more liquid segment of the Pfandbriefe market and with face values of around 500 million euros (about $6 million).
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Search results for 'Pfandbriefe'
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http://www.investopedia.com/articles/bonds/09/covered-bonds.asp
... Created in Prussia in 1769 by Fredrick the Great, pfandbriefe were secured by real
estate and sold by estates to finance public works projects. ...
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