Business purpose

The purpose of Pfandbriefzentrale der schweizerischen Kantonalbanken AG (Pfandbriefzentrale) is the financing of long-term mortgage lending to property owners at interest rates that are as stable and low as possible, in accordance with the provisions of Pfandbrief legislation. For this purpose, it issues covered bonds (Pfandbriefe) and, in return for collateral created by a registered lien, grants the member banks loans to co-finance their mortgage business. The member banks supply the necessary collateral.