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Cover pool

Data as per 31 March 2018

Loan-to-value calculation as defined by the Association of Swedish Covered Bond Issuers

Cover pool data

Cover pool summaryJun 2018Mar 2018Dec 2017Sep 2017Jun 2017
Total assets in the cover pool, SEKbn955.1942.0928.6915.7904.0
Number of borrowers1 120 3051 121 1101 119 0651 119 4751 121 652
Number of properties754 104754 153752 474751 909752 889
Average loan size, SEK591 486584 517577 975570 469563 164
Number of loans outstanding1 614 7841 611 6361 606 5671 605 2381 605 290
Over-collateralisation level78.779.685.572.0%74.1%
Weighted Average LTV (property level)51%50%49%49%50%
Average seasoning , months6666666666
Type of loans in the pool 
Residentials 92.3%92.0%91.9%91.9%92.0%
of which Single-family housing 57.1%57.0%59.9%56.9%57.1%
of which Tenant owner rights21.0%20.9%20.7%20.5%20.3%
of which Tenant owner associations9.3%9.4%9.6%9.8%10.0%
of which Multi-family housing4.9%4.7%4.7%4.7%4.6%
Forest & Agricultural6.3%6.5%6.6%6.6%6.7%
Geographic distribution (more granular in pdf)
Middle (including Stockholm)44.0%44.0%43.9%44.0%44.2%
South (including Gothenburg and Malmoe)49.5%49.5%49.6%49.6%49.4%
Interest rate fixing, floating / fixed
(distribution by refixing period as percentage of total cover pool)
Floating (reset in < 365 days)70.4%70.1%70.8%71.9%72.5%
Fixed, reset period 1-2 Y11.0%10.2%9.1%8.7%8.7%
Fixed, reset period 2-5 Y17.1%18.1%18.4%17.6%16.9%
Fixed, reset period > 5 Y1.5%1.6%1.7%1.8%1.9%
Repayment structure, on property level
Interest only31%32%32%34%35%

Non-performing loans 1)

(see pdf. for split of loans past due 0-60 days)

1) Loans past due > 60 days are not eligible for the cover pool
Covered bonds
Rating of the Covered bond programme (S&P / Moody's)AAA/AaaAAA/AaaAAA/AaaAAA/AaaAAA/Aaa
Total outstanding amount, nominal, SEKm 1)534 458524 453500 598532 970519 360
Weighted average maturity period40 months39 months39 months38 months38 months
FX distribution                                 SEK71%70%69%71%71%
1) FX-rate as per trade date; Gross outstanding amount, i.e. including intra-group holdings.


ECBC Covered Bond Label

Swedbank Mortgage is a member of the ECBC Covered Bond Label Initiative. The labelled covered bonds issued by Swedbank Mortgage can be found on the ECBC Covered Bond Label website.

ECBC label initiative

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