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Covered bonds still increase sharply
statistikk
2010-08-13T10:00:00.000Z
Banking and financial markets
en
orbofbm, Financial corporations, balance sheet, banks, mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowers, balancesFinancial institutions and other financial corporations, Banking and financial markets
false

Financial corporations, balance sheet, June 2010

As from 2016 the statistics is published with Banks and mortgage companies.

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Covered bonds still increase sharply

Norwegian mortgage companies are still increasing their covered bond debt rapidly. From the end of last year to June this year the debt rose by NOK 52.6 billion or 11.7 per cent. Banks’ holdings of covered bonds also increased sharply in the same period.

Mortgage companies’ covered bond debt and banks’ holdings of covered bonds. NOK million.

Norwegian banks’ stocks of covered bonds increased by NOK 63 billion or 31.8 per cent from the end of 2009 to June 2010. In the last 12 months the banks’ holdings of covered bonds rose by NOK 114 billion; 77.7 per cent. The “swap agreement” between the Norwegian government and the banks in 2008 contributed to the sharp increase in covered bond debt in 2009.

Sharp increase in Norwegian mortgage companies’ emissions of covered bonds

Norwegian mortgage companies’ covered bond debt was NOK 501 billion at end-June 2010. The covered bond debt increased by 11.7 per cent since the end of last year. The monthly growth in bond debt has varied considerably from early 2009. The monthly growth fell from March to May this year and rose to 1.2 per cent in June.

Norwegian banks increase holdings of covered bonds

Norwegian banks increased their holdings of covered bonds despite the end of new swap agreements between the government and the banks on covered bonds versus treasury bills at the end of 2009. At end-June 2010, banks’ holdings of covered bonds amounted to NOK 260 billion. Compared to the balance sheet total, the share of covered bonds has stabilised; the share rose from 5.3 per cent in December last year to 6.8 per cent in June this year.

Covered bond stock and debt. Banks and mortgage companies. NOK million and monthly growth. Per cent
 
  Mortgage companies' covered bond debt Monthly growth.
Per cent		 Banks' stock of covered bonds Monthly growth.
Per cent
 
Dec. 2008  195 014 - 46 165 -
Jan. 2009  228 943 17.4 77 076 67.0
Feb. 2009  242 208 5.8 89 379 16.0
Mar. 2009  264 239 9.1  117 506 31.5
Apr. 2009  265 204 0.4  117 537 0.0
May 2009  331 869 25.1  121 207 3.1
Jun. 2009  371 305 11.9  146 427 20.8
Jul. 2009  389 366 4.9  165 585 13.1
Aug. 2009  412 485 5.9  181 491 9.6
Sep. 2009  432 480 4.8  190 244 4.8
Oct. 2009  435 767 0.8  191 810 0.8
Nov. 2009  437 501 0.4  193 411 0.8
Dec. 2009  448 633 2.5  197 393 2.1
Jan. 2010  462 862 3.2  196 300 -0.6
Feb. 2010  457 637 -1.1  193 152 -1.6
Mar. 2009  478 594 4.6  261 815 35.5
Apr. 2010  490 176 2.4  251 189 -4.1
May. 2010  495 424 1.1  252 438 0.5
Jun. 2010  501 271 1.2  260 152 3.1
 

No new “swap agreements” between the Norwegian Government and banks, where banks can exchange covered bonds with treasury bills have been made since December 2009. This is due to a change in government policy as the financial markets functioned more normally in Norway by the end of 2009.

Covered bonds are bonds conferring a preferential claim over a cover pool consisting of public sector loans and loans secured on residential property and other real property.

 

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