Global Covered Bond Characteristics And Rating Summary Q2 2012 Aug 12

  • ID: 2206348
  • August 2012
  • Region: Global
  • Standard & Poors
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  • AIB Mortgage Bank
  • Banco BPI S.A.
  • CaixaBank S.A.
  • GE SCF S.C.A
  • Lansforsakringar Hypotek
  • Realkredit Danmark A/S
  • MORE

This article provides Standard & Poor's Ratings Services' assessment of the characteristics of the listed covered bond programs that contribute to its rating opinion. We currently rate: 98 covered bond programs, the ratings on which are linked to the issuer (that is, covered bonds that have or can have asset-liability mismatches); and 54 covered bond programs, the ratings on which are not linked to the issuer. These covered bond programs encompass 49 Spanish multi-cédulas transactions, the Cassa Depositi e Prestiti SpA's covered bond program, and the global covered bond programs of the Bank of Scotland PLC (£15 billion), Clydesdale Bank PLC Global Covered Bond Program, Barclays Bank PLC (£3.054 billion), and BPCE Home Loans FCT. This article focuses only on...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown
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- BRFkredit A/S
- Arkea Public Sector SCF
- AXA Bank Europe SCF
- Bankia S.A.
- Banca Civica S.A.
- Ibercaja Banco S.A.
- Deutsche Bank AG
- Danske Bank A/S
- Landesbank Hessen-Thueringen Girozentrale
- Swedbank Mortgage AB
- ING Bank N.V.
- Barclays Bank S.A.U.
- DekaBank Deutsche Girozentrale
- Fundacion Bancaria Caja de Ahorros y Pensiones de Barcelona
- Banco Popular Espanol S.A.
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- Banco BPI S.A.
- Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastian (Kutxa)
- Caja de Ahorros y Monte de Piedad de Zaragoza Aragon y Rioja (IBERCAJA)
- Deutsche Pfandbriefbank AG
- Kutxabank S.A.
- UniCredit Bank AG
- Deutsche Genossenschafts-Hypothekenbank AG
- Deutsche Apotheker- und Aerztebank eG
- Mediobanca SpA
- Nordea Hypotek AB
- Compagnie de Financement Foncier
- WL BANK AG Westfaelische Landschaft Bodenkreditbank
- Banco Bilbao Vizcaya Argentaria S.A.
- Hypothekenbank Frankfurt International S.A.
- DEPFA Pfandbrief Bank International S.A.
- Deutsche Postbank AG
- Hypothekenbank Frankfurt AG
- NRAM Plc Global Covered Bond Programme
- Bradford & Bingley PLC Covered Bond Programme
- Banco Santander Totta S.A.
- Abbey National Treasury Services PLC Global Covered Bond Programme
- WM Covered Bond Program
- BA Covered Bond Issuer
- NORD/LB Luxembourg S.A. Covered Bond Bank
- OP Mortgage Bank
- Societe Generale SCF
- HSBC SFH (France)
- CaixaBank S.A.
- Nykredit Realkredit A/S
- Landshypotek Bank AB
- Dexia Kommunalbank Deutschland AG
- Caisse Francaise de Financement Local
- Credit Foncier et Communal d'Alsace et de Lorraine - Societe de Credit Foncier
- Erste Europaeische Pfandbrief- und Kommunalkreditbank AG
- Totalkredit A/S
- Realkredit Danmark A/S
- Westdeutsche ImmobilienBank
- Bank of Scotland PLC Covered Bond Programme
- Banques Populaires Covered Bonds Programme
- Nordea Kredit Realkredit A/S
- ABN AMRO Bank N.V. Covered Bond Programme
- Nationwide Building Society Global Covered Bond Programme
- Lansforsakringar Hypotek
- Credit Mutuel-CIC Home Loan SFH
- DNB Boligkreditt AS
- AIB Mortgage Bank
- Barclays Bank PLC Global Covered Bond Programme
- Credit Agricole Home Loan SFH Covered Bond Program
- UniCredit SpA Obbligazioni Bancarie Garantite Programme
- Bank of Scotland plc Social Housing Covered Bond Programme
- BNP Paribas Home Loan SFH
- Arkea Home Loans SFH
- BNP Paribas Public Sector SCF
- Depfa ACS Bank

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown


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