We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
MORTGAGE BANKING IN GERMANY.
- Authors
Frederiksen, D.M.
- Abstract
The article focuses on mortgage banking in Germany. The mortgage establishments of Germany fall into two classes, the mutual credit associations, or associations of borrowers, and the mortgage banks, or associations of lenders. The conditions under which different credit associations are operating vary somewhat, but the Posener Landschaft and the Berliner Pfandbrief Institut can be taken as instances. The former was founded in 1822, and somewhat altered in 1857, and is a mutual association of which any owner of land having an assessed value of at least 4,000 marks could, from 1857 on, become a member by joining within ten years. The management of the association is in the hands of officials appointed by the government; and it is further supervised by the minister of agriculture and his representative, the government commissioner. The Berliner Pfandbrief Institut makes loans by handing to the borrower bonds of the same amount which he can sell. These are listed on the exchanges, and have a well-known market value.
- Subjects
GERMANY; BANKING industry; MORTGAGE banks; FINANCIAL institutions; BONDS (Finance); NEGOTIABLE instruments; CREDIT
- Publication
Quarterly Journal of Economics, 1894, Vol 9, Issue 1, p47
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1883634