Supervision; requests for information and production

(1) BaFin exercises supervision over Pfandbrief banks under the provisions of this Act and the statutes and ordinances named in section 6(1), first sentence of the Banking Act. It is empowered to take all orders that are suitable and necessary to keep the business of Pfandbrief banks in conformity with this Act and the ordinances issued to implement it. It must, at times it determines, examine the cover of the Pfandbriefe on the basis of suitable samples; it may make use of other persons and bodies for this purpose. The examination should as a rule take place every three years. Supervision exercised by other state bodies remains unaffected.
(2) A Pfandbrief bank, the members of its bodies, its employees, and an administrator must, on request, provide information and produce documents to BaFin and to the persons and bodies of which BaFin makes use in performing its tasks, concerning the cover situation, including the economic value of the cover.