Benchmark Pfandbrief sales 2021

In January 2021 we have seen 5 EUR-benchmark transactions in the Pfandbrief market totalling EUR 3 bn. In the entire year 2020 the Pfandbrief market saw 26 large volume deals worth EUR 18.8 bn and net growth of about EUR 1.5 bn.

Given prevailing market conditions and maturities in benchmark Pfandbrief down to some EUR 15 bn in 2021, do you expect gross issuance of benchmark Pfandbrief in 2021 to...