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The Lombardkredit is a credit on real property, which is secured by pledge right at a mobile thing or a confirmed by a document right (security). It is usually short term. The applicant for the credit does not obtain the full value of its pledge, but only a certain percentage of it as credit (loan to value ratio). The most frequent form of the Lombardkredites, which Effektenlombardkredit, taken up by banking customers, who do not want to sell securities present in their possession. They make these available instead of its as collateral.

The takes place via agreement of the two parties that a pledge right is to exist and delivery of the article (security), which can be pawned. By the delivery the pledge creditor becomes owner, but not owners of the pawned thing.

Forms of the Lombardkredites

One differentiates between the following forms of the Lombardkredites:

  • Effektenlombardkredit
  • Wechsellombardkredit
  • Warenlombardkredit
  • Edelmetalllombardkredit
  • ForderungslombardkreditFinanzierung that enterprise, Univ. - Professor Dr. Manfred Matschke, page 267, see

Up to the introduction of the Euros the Lombardkredit of the German Federal Bank was of great importance for the liquidity equipment of the credit institutes.

Lombardkredit of the German Federal Bank

Lombardkredite were used of the German Federal Bank as monetary political instrument. Here banks could beleihen at the Federal Bank titles.

is the pawnableness of securities and ledger debts at the German Federal Bank. The is specified in more detail in "„the listing of the securities beleihbaren at the Federal Bank "“. of papers are changes, Geldmarktpapiere as well as government loans and other marketable securities. The credit line amounts to with changes and treasury bonds to 90%, with other papers up to 75% of their course and/or nominal amount.

The running time of the Lombardkredites of the Federal Bank was limited on three months. Usually it was taken up only by the day.

The interest rate with the Lombardkredit is called bank rate for collateral loans. It was an important indicator for the money market.

In the context of the controlling of the liquidity equipment of the banks the Federal Bank made occasionally also so-called Sonderlombardkredit available to substantial higher sentence.

"“false"” Lombardkredit

The banks could deposit also papers at the Federal Bank, which separate it not in the own inventory of the bank again were pawned by (company) customers. In response the bank could offer short term Lombardkredite to enterprises for favorable conditions.

Other Lombardkredite

Effektenlombardkredite are offered in the private customer business as standardized bank product. Wechsellombardkredite as well as Forderungslombardkredite play a Rolle.Warenlombardkredit and a Edelmetalllombardkredit in the financing of enterprises are today hardly still common.

History of the Lombardkredits

The name of the Lombardkredites is derived from the Lombardei (upper Italy). Buyers of the Lombardei had already begun in the outgoing Middle Ages to lend money against collateral.

Derived from the Lombardkredit also the verb exists "“lombardieren"” = for the purpose of attaining a Lombardkredites makes available.

See also

  • Pledge right

Sources


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