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

Harmonised Transparency Templates

Cover pool data

Cover pool summary	Jun 2019	Mar 2019	Dec 2018	Sep 2018	Jun 2018
Total assets in the cover pool, SEKbn	984.4	976.1	968.0	959.8	955.1
Number of borrowers	1 106 373	1 111 816	1 115 299	1 118 058	1 120 305
Number of properties	757 097	750 085	751 947	753 043	754 104
Average loan size, SEK	610 986	605 693	599 915	594 881	591 486
Number of loans outstanding	1 611 092	1 611 524	1 613 517	1 613 370	1 614 784
Over-collateralisation level	80.8	89.4	102.3	98.6	78.7
Weighted Average LTV (property level)	52%	51%	51%	51%	51%
Average seasoning, months	68	68	67	67	66

Type of loans in the pool	Jun 2019	Mar 2019	Dec 2018	Sep 2018	Jun 2018
Residentials	92.2%	92.2%	92.4%	92.6%	92.3%
of which Single-family housing	56.7%	56.8%	57.0%	57.0%	57.1%
of which Tenant owner rights	21.7%	21.5%	21.5%	21.3%	21.0%
of which Tenant owner associations	9.0%	9.1%	9.1%	9.4%	9.3%
of which Multi-family housing	4.8%	4.8%	4.8%	4.9%	4.9%
Public	0.6%	0.6%	0.6%	0.5%	0.6%
Commercial	1.1%	1.0%	0.8%	0.8%	0.8%
Forest & Agricultural	6.1%	6.2%	6.2%	6.1%	6.3%

Geographic distribution	Jun 2019	Mar 2019	Dec 2018	Sep 2018	Jun 2018
(more granualr in pdf)
North	6.7%	6.6%	6.5%	6.5%	6.5%
Middle (including Stockholm)	43.9%	43.8%	44.0%	44.0%	44.0%
South (including Gothenburg and Malmoe)	49.4%	49.6%	49.5%	49.5%	49.5%

Interest rate fixing, floating / fixed	Jun 2019	Mar 2019	Dec 2018	Sep 2018	Jun 2018
Floating (reset in < 365 days)	68.2%	67.9%	68.6%	70.5%	70.4%
Fixed, reset period 1-2 Y	11.1%	11.3%	11.8%	11.1%	11.0%
Fixed, reset period 2-5 Y	19.3%	19.4%	18.1%	16.9%	17.1%
Fixed, reset period > 5 Y	1.4%	1.4%	1.5%	1.5%	1.5%

Repayment structure, on property level	Jun 2019	Mar 2019	Dec 2018	Sep 2018	Jun 2018
Amortising	72%	71%	71%	70%	69%
Interest only	28%	29%	29%	30%	31%
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	Jun 2019	Mar 2019	Dec 2018	Sep 2018	Jun 2018
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)	544 434	515 345	478 371	483 194	534 458
Weighted average maturity period	42 months	42 months	42 months	44 months	40 months
FX distribution	67%	68%	69%	68%	71%
	28%	27%	26%	26%	23%
	2%	2%	2%	2%	2%
	3%	3%	3%	4%	4%
1) FX-rate as per trade date; Gross outstanding amount, i.e. including intra-group holdings.