Maturity profile

The average maturity of all capital market funding arranged through the bank’s short- and long-term programmes has been extended from around 29 months as of 31 December 2010 to 35 months as of 31 December 2011. The average maturity of covered bonds was 43 months. The average maturity of long-term funding issued during the second quarter was 52 months.

During 2012 long-term funding with a nominal value of SEK 86bn will mature, of which SEK 37bn relates to funding through the government guarantee programme. To offset the refinancing risk during this period, the bank has increased its liquidity reserves. After June 2012 annual refinancing needs will decline significantly to an average nominal amount of about SEK 120bn, compared with an average nominal issuance volume of approximately SEK 260bn per year in the last two years.