!!!Landes-Hypothekenbanken

Landes-Hypothekenbanken (provincial mortgage banks): founded in 
Austria in the late 19%%sup th/%  and early 20%%sup th/%  century, 
chartered to promote money and credit transactions in the provinces. 
Today they are regional all-purpose banks with legal advantages in the 
field of issuing mortgage and municipal bonds. All have turned their 
bank businesses into limited companies. Independent banks in all the 
provinces except Vienna.

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Their main task is to grant mortgage loans to corporations empowered 
to levy charges. They raise their funds mainly by issuing mortgage and 
municipal bonds. Mortgage bonds, municipal bonds and savings deposits 
are very safe and therefore suitable for trustee securities.

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The association of mortgage banks was founded in 1947. Members are all 
mortgage banks as well as the Pfandbriefstelle (mortgage bond 
authority), founded in 1939, which is the bank of issue for all 
mortgage banks.


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