Access to the funding and liquidity markets is vital in all circumstances. SEB’s funding and liquidity strategy is managed from three perspectives:
- optimising the liquidity structure of the balance sheet to ensure that less liquid assets are matched with stable funding
- monitoring wholesale funding dependence, and
- ensuring that the bank has sufficient liquidity reserves to withstand a severely stressed scenario
SEB’s funding consists of deposits from customers as well as long-term and short-term funding in the financial markets. SEB’s long-term funding structure and maturity profile is described below.
Long-term funding raised, SEK bn, 31 December 2022
Long-term funding maturity profile, SEK bn, 31 December 2022
|31 December 2022|
|Mortgage covered bonds, SEK||53||54||43||47||12||3||1||3||217|
|Mortgage covered bonds, non-SEK||12||11||0||13||22||0||0||0||57|
|Subordinated debt **||9||0||9||5||5||0||0||0||28|
* Excluding public covered bonds.
** Tier 2 and Additional Tier 1 issues assumed to be called at first call date.
SEB's debt programs consist mainly of a global MTN program for senior debt and covered bonds and a SEK MTN program for SEK covered bonds.
As part of its wholesale funding, SEB issues covered bonds through the parent company, Skandinaviska Enskilda Banken AB (publ), which are secured by Swedish residential mortgages.
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