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.
Cover pool
The cover pool consists to more than 90% of residential mortgage loans.
Loan-to-value calculation as defined by the Association of Swedish Covered Bond Issuers www.ascb.se
Harmonised transparency templates, HTT
Cover pool data
| Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | |
|---|---|---|---|---|---|
| Total assets in the cover pool, SEKbn | 1 108.2 | 1 113.0 | 1 105.2 | 1 103.8 | 1 104.5 |
| Number of borrowers | 1 008 420 | 1 015 033 | 1 019 847 | 1 024 140 | 1 029 246 |
| Number of properties | 683 707 | 688 086 | 691 300 | 694 010 | 697 362 |
| Average loan size, SEK | 679 117 | 676 534 | 672 697 | 670 859 | 668 234 |
| Number of loans outstanding | 1 600 382 | 1 604 694 | 1 607 993 | 1 612 055 | 1 616 740 |
| Over-collateralisation level | 220.2% | 196.2% | 196.6% | 206.8% | 195.0% |
| Weighted Average LTV (property level) | 52% | 53% | 54% | 53% | 53% |
| Average seasoning, months | 82 | 81 | 81 | 80 | 79 |
| Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | |
|---|---|---|---|---|---|
| Residentials | 82.2% | 91.6% | 92.0% | 92.0% | 91.8% |
| of which Single-family housing | 56.7% | 56.3% | 56.7% | 57.0% | 56.9% |
| of which Tenant owner rights | 23.4% | 23.3% | 23.3% | 23.2% | 23.1% |
| of which Tenant owner associations | 7.4% | 7.3% | 7.3% | 7.2% | 7.2% |
| of which Multi-family housing | 4.7% | 4.7% | 4.7% | 4.6% | 4.6% |
| Public | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% |
| Commercial | 0.9% | 0.9% | 0.9% | 0.9% | 0.9% |
| Forest & Agricultural | 4.7% | 4.7% | 4.7% | 4.8% | 4.8% |
| Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | |
|---|---|---|---|---|---|
| North | 6.8% | 6.8% | 6.8% | 6.8% | 6.8% |
| Middle (including Stockholm) | 45.0% | 45.0% | 44.9% | 44.9% | 44.6% |
| South (including Gothenburg and Malmoe) | 48.2% | 48.2% | 48.3% | 48.3% | 48.6% |
| (distribution by refixing period as percentage of total cover pool) | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 |
|---|---|---|---|---|---|
| Fixed interest rate period <= 90 days | 62 | 61 | 56 | 52 | 50 |
| Fixed interest rate period >1Y with reset <=1Y | 18 | 19 | 20 | 20 | 20 |
| Fixed interest rate period >1Y with reset >1Y | 20 | 20 | 24 | 28 | 30 |
| Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | |
|---|---|---|---|---|---|
| Amortising | 77% | 77% | 76% | 77% | 77% |
| Interest only | 23% | 23% | 24% | 23% | 23% |
| Dynamic pool | YES | YES | YES | YES | YES |
| Non-performing loans¹ (see PDF for split of loans past due 0-60 days) | None | None | None | None | None |
¹ Loans past due > 60 days are not eligible for the cover pool
| Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | |
|---|---|---|---|---|---|
| Rating of the Covered bond programme (S&P/Moody's) | AAA/Aaa | AAA/Aaa | AAA/Aaa | AAA/Aaa | AAA/Aaa |
| Total outstanding amount, nominal, SEKm¹ | 346 132 | 375 829 | 372 594 | 359 726 | 374 552 |
| Weighted average maturity period | 38 months | 35 months | 33 months | 34 months | 33 months |
| FX distribution - SEK | 78% | 79% | 74% | 73% | 74% |
| FX distribution - EUR | 22% | 21% | 26% | 27% | 26% |
| FX distribution - USD | 0% | 0% | 0% | 0% | 0% |
| FX distribution - Other | 0% | 0% | 0% | 0% | 0% |
¹ FX rate as per trade date; Gross outstanding amount, i.e. including intra-Group holdings.