01711cas a2200241 a 4500 AALejournalIMF011480 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463928544 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Germany : Technical Note on the Future of German Mortgage-Backed Covered Bond (PF and Brief) and Securitization Markets. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (37 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students As part of the 2011 Financial Sector Assessment Program (FSAP) update for Germany, this Technical Note reviews recent developments of mortgage-covered bond (Pfandbrief) and mortgage securitization markets in Germany, and explores future prospects for each against the background of ongoing regulatory changes. It examines the characteristics of the two markets and their performance through the crisis, and analyzes some of the policy reactions that are currently tending to favor covered bonds over securitization. Some of the systemic vulnerabilities associated with covered bonds are also discussed. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2011/369 Full text available on IMF http://elibrary.imf.org/view/journals/002/2011/369/002.2011.issue-369-en.xml IMF e-Library