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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 30 Jun 2021 31 Dec 2020 31 Dec 2019
Total residential mortgage assets (SEK m) 676,610 652,644 612,975
Weighted average LTV (property level) 52% 52% 51%
Number of loans (thousand) 758 749 737
Number of borrowers (thousand) 435 432 428
Weighted average loan balance (SEK thousand) 893 872 831
Substitute assets (SEK thousand) 0 0 0
Loans past due 60 days (basis points) 4 4 5
Net expected credit losses (basis points) 0 0 0

 

Covered bonds   30 Jun 2021 31 Dec 2020 31 Dec 2019
Total outstanding covered bonds (SEK m)   319,873 359,698 354,614
Rating of the covered bond program   Aaa Moody's Aaa Moody's Aaa Moody's
FX distribution SEK 84% 78% 71%
  non-SEK 16% 22% 29%
Over collateralization level   112% 81% 73%

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 here.

ECBC Covered Bond Label website