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

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 Covered Bond Label

Cover pool data

Cover pool	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
Total assets in the cover pool, SEKbn	1011.5	1 005.7	994.3	989.8	990.3
Number of borrowers	1 084 492	1 087 251	1 088 272	1 092 884	1 101 420
Number of properties	733 642	735 512	735 984	738 893	744 054
Average loan size, SEK	628 632	625 731	621 053	617 316	615 425
Number of loans outstanding	1 609 072	1 607 233	1 601 070	1 603 462	1 609 172
Over-collateralisation level	76.2	69.1	77.7	76.9	77.4
Weighted Average LTV (property level)	50%	51%	51%	50%	51%
Average seasoning, months	72	71	71	70	69

Type of loans in the pool	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
Residentials	93.1%	92.5%	92.5%	92.3%	92.2%
of which Single-family housing	57.7%	57.2%	57.1%	57.0%	56.8%
of which Tenant owner rights	22.3%	22.1%	22.0%	21.9%	21.7%
of which Tenant owner associations	8.5%	8.4%	8.6%	8.7%	8.9%
of which Multi-family housing	4.6%	4.8%	4.8%	4.7%	4.8%
Public	0.3%	0.5%	0.5%	0.5%	0.6%
Commercial	1.1%	1.1%	1.1%	1.2%	1.2%
Forest & Agricultural	5.5%	5.9%	5.9%	6.0%	6.0%

Geographic distribution	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
(more granular in pdf)
North	6.9%	6.8%	6.8%	6.8%	6.8%
Middle (including Stockholm)	43.8%	43.9%	44.0%	44.0%	43.8%
South (including Gothenburg and Malmoe)	49.3%	49.2%	49.2%	49.2%	49.4%

Interest rate fixing, floating / fixed	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
(distribution by refixing period as percentage of total cover pool)
Floating (reset in < 365 days)	63.0%	64.4%	65.8%	67.7%	68.1%
Fixed, reset period 1-2 Y	14.1%	13.6%	13.0%	11.8%	10.8%
Fixed, reset period 2-5 Y	21.7%	20.7%	19.9%	19.4%	19.7%
Fixed, reset period > 5 Y	1.2%	1.3%	1.3%	1.3%	1.4%

Repayment structure, on property level	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
Amortising	68%	68%	74%	73%	73%
Interest only	32%	32%	26%	27%	27%
Dynamic pool	YES	YES	YES	YES	YES
Non-performing loans 1) (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

Covered bonds	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
Rating of the Covered bond programme (S&P / Moody's)	AAA/Aaa	AAA/Aaa	AAA/Aaa	AAA/Aaa	AAA/Aaa
Total outstanding amount, nominal, SEKm 1)	574 011	594 564	559 538	559 454	558 125
Weighted average maturity period	34 months	36 months	36 months	37 months	39 months
FX distribution
SEK	71%	69%	69%	69%	68%
EUR	26%	28%	26%	26%	27%
USD	0%	0%	1%	1%	1%
Other	3%	3%	4%	4%	4%
1) FX-rate as per trade date; Gross outstanding amount, i.e. including intra-group holdings.

National transparency templates

Cover pool

ECBC Covered Bond Label

Harmonised transparency templates

PDF

Excel

Cover pool data

National transparency templates

PDF

Excel

Historical cover pool data

PDF

Excel

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