The Verband deutscher Pfandbriefbanken (vdp, in English Association of German Pfandbrief Banks[1]) is the interest group of German banks which issue a form of property-backed covered bond known as Pfandbrief.

vdp member institutions are also engaged in ship and aircraft finance.

[2] The vdp takes the judicial form of an Eingetragener Verein (registered association).

The association was named Verband deutscher Hypothekenbanken (lit.

The bond banks association runs a number of subsidiaries for specialized task such as the "vdp Research GmbH" (vdpResearch), the "vdp Pfandbriefakademie GmbH" (Pfandbrief Academy), the "Hyp Real Estate Rating Services GmbH" (HypRating) and the "Hyp-Zert-Gesellschaft" that is certifying real estate agents to take part in the "Beleihungswertermittlungen mbH" (HypZert - mortgage estimates), with all of them located in Berlin.