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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 2022 Q4 2021 Q4 2020
Total residential mortgage assets (SEK m) 711,177 688,559 652,644
Weighted average LTV (property level) 47% 47% 52%
Number of loans (thousand) 764 766 749
Number of borrowers (thousand) 433 437 432
Weighted average loan balance (SEK thousand) 930 899 872
Substitute assets (SEK thousand) 0 0 0
Loans past due 60 days (basis points) 4 4 4
Net credit losses (basis points) 0 0 0

 

Covered bonds Q2 2022 Q4 2021 Q4 2020
Total outstanding covered bonds (SEK m) 328,724 295,339 359,698
Rating of the covered bond programme Aaa Moody's Aaa Moody's Aaa Moody's
FX distribution SEK 82% 83% 78%
  non-SEK 18% 17% 22%
Over collateralization level   116% 133% 81%

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