Group Treasury has the overall responsibility for managing liquidity within the mandate given by the Board and CEO.
Group Treasury is responsible for managing all funding and liquidity activities for Swedbank Group. The main funding sources of the Group are customer deposits and covered bonds. The wholesale market related funding is conducted through different type of funding programmes, both short- and long term, providing access to different markets, products and currencies. The core parts of the balance sheet are funded through the long-term programmes whereas the short-term programmes are mainly used as a cash management tool.
Swedbank manages its liquidity so that it can handle periods of stress in the capital markets when access to new financing would be limited. The metric used to measure this period is internally referred to as the survival horizon. The bank has built up liquidity reserves and actively prolonged the average maturity profile of all its wholesale funding during the last couple of years to extend its survival horizon.
Swedbank AB has obtained credit ratings from three rating agencies, Standard & Poor's, Moody's and Fitch, to provide debt investors with an external assessment of the bank´s financial and credit position. The Group´s covered bond programme enjoys ratings from Moody's and Standard & Poor's.
9 Jan 2017
Swedbank Mortgage AB, Covered bond transaction
Nominal amount: EUR 1bn
Coupon: 0.125% (fixed)
Value date: 16 Jan, 2017
Maturity date: 18 Jul, 2022
9 Dec 2016
Swedbank AB, AT1 transaction with equity conversion
Nominal amount: USD 500m
Tenor: Perpetual, callable in 2022 (5.25Y)
Value date: 16 Dec 2016
First call date: 17 Mar 2022
26 May 2016
Fitch Ratings upgrade Swedbank to AA- (A+) with stable outlook.
3 Dec 2015
S&P upgrade Swedbank to AA- (A+) with negative outlook
The negative outlook represents S&P's view on the hightened risk in the Swedish economy
26 Nov 2015
Swedbank AB, EUR Senior unsecured transaction
Nominal amount: EUR 750m
Tenor: 5Y Fixed with an annual coupon of 0.625%
Value date: 4 December 2015
Maturity date: 4 January 2021
Price: MS+ 53bp
Rating: AA-/Aa3/A+ (S&P/Moody's/Fitch)