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Cover pool

Data as per 31 December 2016

Loan-to-value calculation as defined by the Association of Swedish Covered Bond Issuers www.ascb.se

Cover pool data

Cover pool summaryDec 2016Sep 2016Jun 2016Mar 2016Dec 2015
Total assets in the cover pool, SEKbn878.4856.3843.8830.1817.9
Number of borrowers1 126 9711 110 6691 111 9101 113 9771 115 334
Number of properties754 463742 981743 368743 744744 300
Average loan size, SEK546 803540 454532 826524 238517 196
Number of loans outstanding1 606 4161 584 4101 583 6911 583 4201 581 490
Over-collateralisation level67.3%63.1%59.5%52.4%57.9%
Weighted Average LTV (property level)50%51%52%51%53%
Average seasoning , months6566666665
Type of loans in the pool 
Residentials 92.0%91.7%91.6%91.4%91.3%
of which Single-family housing 57.5%57.4%57.5%57.4%57.4%
of which Tenant owner rights19.9%19.6%19.3%19.0%18.8%
of which Tenant owner associations10.2%10.3%10.4%10.4%10.4%
of which Multi-family housing4.4%4.4%4.4%4.6%4.7%
Forest & Agricultural6.8%6.9%7.0%7.1%7.2%
Geographic distribution (more granular in pdf)
Middle (including Stockholm)44.2%44.8%44.9%44.9%44.9%
South (including Gothenburg and Malmoe)49.4%48.7%48.6%48.6%48.6%
Interest rate fixing, floating / fixed
(distribution by refixing period as percentage of total cover pool)
Floating (reset in < 365 days)73.5%72.0%71.3%71.1%70.7%
Fixed, reset period 1-2 Y9.4%10.3%10.9%11.7%11.6%
Fixed, reset period 2-5 Y15.2%15.8%15.9%15.4%16.0%
Fixed, reset period > 5 Y1.9%1.9%1.9%1.8%1.7%
Repayment structure, on property level
Interest only37%38%39%41%42%

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)525 055524 873529 019544 561517 904
Weighted average maturity period36 months36 months37 months37 months36 months
FX distribution                                 SEK70%69%67%68%66%
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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