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Examples
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HRE's business model combining property finance with investment banking came unstuck in the financial crisis, forcing the lender -- considered crucial to the stability of the pfandbrief or covered bond market -- to turn to the government for more than 100 billion euros
Reuters: Top News 2011
qroqqa commented on the word pfandbrief
In Germany, a bond covered by a loan; the original of the covered bonds issued by some other countries. The word is used untranslated in English, with plural Pfandbriefe.
From Pfand "pledge, pawn, security" + Brief "letter", or in a few combinations "certificate".
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February 14, 2009