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Covered bonds

SEB issues covered bonds as part of its wholesale funding through the parent company Skandinaviska Enskilda Banken AB (publ), and which are secured by Swedish residential mortgages.

Information about the cover pool is found below.

Cover pool Q2 2023 Q4 2022 Q4 2021
Total residential mortgage assets (SEK m) 708,195 706,984 688,559
Weighted average LTV (property level) 50% 50% 47%
Number of loans (thousand) 753 757 766
Number of borrowers (thousand) 426 428 437
Weighted average loan balance (SEK thousand) 941 934 899
Substitute assets (SEK thousand) 0 0 0
Loans past due 60 days (basis points) 9 6 4
Net credit losses (basis points) 0 0 0


Covered bonds Q2 2023 Q4 2022 Q4 2021
Total outstanding covered bonds (SEK m) 369,419 296,785 295,339
Rating of the covered bond programme Aaa Moody's Aaa Moody's Aaa Moody's
FX distribution, SEK 75% 79% 83%
FX distribution, non-SEK 25% 21% 17%
Over collateralization level 92% 138% 133%

ECBC Covered Bond Label

SEB is a member of the ECBC Covered Bond Label Initiative. The labelled covered bonds issued by SEB can be found on ECBC Covered Bond Label website