HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds

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1 Prog INTERNATIONAL STRUCTURED FINANCE COVERED BONDS HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Covered Bonds / Austria Contacts Zeidler, Alexander (207) Alexander.Zeidler@moodys.com Margiotta, Maria (207) Maria.Margiotta@moodys.com Monitoring Monitor.CB@moodys.com Click on the icon to download data into Excel & to see Glossary of terms used Client Service Desk London: , csdlondon@moodys.com Click here to access the covered bond programme webpage on moodys.com Reporting as of: 30/03/208 All amounts in EUR (unless otherwise specified) For information on how to read this report, see the latest Moody's Global Covered Bond Monitoring Data as provided to Moody's Investors Service (note ) I. Programme Year of initial rating assignment: 203 Total outstanding liabilities: Total assets in the Cover Pool: EUR EUR,09,465,000,596,263,677 Issuer name / CR Assessment: Group or parent name / CR Assessment: Main collateral type: HYPO NOE Landesbank für Niederösterreich / n/a Residential Ratings Covered bonds rating: Entity used in Moody's EL & TPI analysis: CB anchor: CR Assessment: SUR: Unsecured claim used for Moody's EL analysis: HYPO NOE Landesbank fuer Niederoesterreich CR Assessment + notch Yes Aaa Aa2 Aa3 A A2 A3 Baa Baa2 Baa3 Ba Ba2 Ba3 B B2 Chart : Rating history Covered Bond Sovereign CR Assessment (RHS) Aaa (cr) (cr) Aa2 (cr) Aa3 (cr) A (cr) A2 (cr) A3 (cr) Baa (cr) Baa2 (cr) Baa3 (cr) Ba (cr) Ba2 (cr) Ba3 (cr) B (cr) B2 (cr) II. Value of the Cover Pool Collateral quality Collateral Score: 7.8% Collateral Score excl. systemic risk: 7. Cover Pool losses Collateral Risk (Collateral Score post-haircut): 5.2% 29% Market Risk: 2.9% 7% 8.2% (0) III. Over-Collateralisation Levels (notes 2 & 3) Over-Collateralisation (OC) figures presented below include Eligible only collateral. Over-collateralisation levels are provided on nominal basis. NPV stress test where stressed: n/a Chart 2 : Asset types in cover pool Non-profit housing, 35.6% Other / Supplementary assets,.6% Residential assets, 35. Commercial assets, 27.9% Current situation Committed OC (Nominal): 2. Current OC: 43.9% OC consistent with current rating (note 4): 5. Sensitivity scenario CB anchor OC consistent with current rating Scenario : CB anchor is lowered by notch n/a IV. Timely Payment Indicator & TPI Leeway Legal framework Timely Payment Indicator (TPI): Probable Does a specific covered bond law apply for this programme: Yes, Pfandbrief Act TPI Leeway: Main country in which collateral is based: Austria Country in which issuer is based: Austria Timely payment Refinancing period for principal payments of 6 months or greater: Liquidity reserve to support timely payments on all issuances: No No (note ) The data reported in this PO is based on information provided by the issuer and may include certain assumptions made by Moody's. Moody's accepts no responsibility for the information provided to it and, whilst it believes the assumptions it has made are reasonable, cannot guarantee that they are or will remain accurate. Although Moody's encourages all issuers to provide reporting data in a consistent manner, there may be differences in the way that certain data is categorised by issuers. The data reporting template (which Issuers are requested to use) is available on request. (note 2) This assumes the Covered Bonds rating is not constrained by the TPI. Also to the extent rating assumptions change following a downgrade or an upgrade of the Issuer, the necessary OC stated here may also change. This is especially significant in the case of CR assessments of A3(cr) committee discretion is applied. (note 4) The OC consistent with the current rating is the minimum level of over-collateralisation which is necessary to support the covered bond rating at its current level on the basis of the pool as per the cut-off date. The sensitivity run is based on certain assumptions, including that the Covered Bonds rating is not constrained by the TPI. Further, this sensitivity run is a model output only and therefore a simplification as it does not take into account certain assumptions that may change as an issuer is downgraded, and as a result the actual OC number consistent with the HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page

2 Mismatch in % of the total liabilities COVERED BONDS V. Asset Liability Profile Interest Rate & Duration Mismatch (note 5) Swap Arrangements Fixed rate assets in the cover pool: 9.6% Interest rate swap(s) in the Cover Pool: No Fixed rate covered bonds outstanding: 96.3% Intra-group interest rate swap(s) provider(s): No WAL of outstanding covered bonds: 3. years Currency swap(s) in the Cover Pool: No WAL of the cover pool: 9.7 years Intra-group currency swap(s) provider(s): No Chart 3 : Stressed refinancing needs per quarter (% of liabilities) 20. (note 6) Chart 4: Currency mix before swaps (3 Main Currencies) Cover pool Covered Bonds 00. JPY Information not disclosed by Issuer Period in years 39 CHF,556 EUR, ,000,200,400,600,800 in EUR millions Chart 5 : Amortisation profile (in millions) (note 7) Assets Liabilities Information not disclosed by Issuer Years VI. Performance Evolution Chart 6 : Collateral Score Chart 7 : Cover Pool Losses 9% 8% 7% 6% 4% 3% 2% % 8.4% % Q 207 Q2 207 Q3 207 Q4 207 Q % 7.8% % Collateral Risk Market Risk Cover Pool Losses 8.7% 8.7% 8.2% Q 207 Q2 207 Q3 207 Q4 207 Q 208 Chart 8 : OC consistent with covered bond rating vs. Current OC OC needed Surplus OC CurrentOC % % 34.8% 40.7% 44.9% 43.9% % 3.2% 35.4% 38.9% Q 207 Q2 207 Q3 207 Q Q 208 Covered Bond Rating CR Assessment This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on for the most updated credit rating action information and rating history. (note 5) This assumes no prepayment. (note 6) Based on principal flows only. Assumptions include no prepayments, principal collections limited to the portion of assets that make up the amount of the liabilities plus committed OC, no further CB issuance and no further assets added to the cover pool. (note 7) Assumptions include no prepayment, no swap in place in Cover Pool and no further CB issuance. HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 2

3 VII. Cover Pool Information - Residential Assets EUR Asset type: Residential Assets EUR Loans with an external guarantee in addition to a mortgage: n/a Asset balance: 567,664,892 Interest only Loans: 4.% Average loan balance: 92,62 Loans for second homes / Vacation: 0. Number of loans: 6,29 Buy to let loans / Non owner occupied properties: 5.2% Number of borrowers: 4,945 Limited income verified: 0. Number of properties: 5,537 Adverse credit characteristics (**): 0. WA remaining term (in months): 9 WA seasoning (in months): 50 Performance 0.% Details on LTV 0. WA unindexed LTV (*): n/d 0. WA indexed LTV: 60.6% Loans in a foreclosure procedure: 0. Valuation type: Lending Value LTV threshold: 60. Multi-Family Properties Junior ranks: n/d Loans to tenants of tenant-owned Housing Cooperatives: n/a Prior ranks: 28.7% Other type of Multi-Family loans (***): n/a n/d: information not disclosed by Issuer n/a: information not applicable Balance per LTV-band Indexed LTV Percentage of residential assets % 23.4% Residential Assets EUR 35.6%. 5.2%.6% 3.9% 3.7% 2.% 2.9%.4% 5.% LTV Interest rate type % of the pool with Indexed LTV>8 Indexed WA LTV % 6.7% 60.6% 60.6% 60.6% % % % % 2.4%. 0.9% 0.9% 22.9% 2.7% 9.2% %.8% 0.% Chart E: Main country regional distribution Chart F: Seasoning (in months) % 2..7% 0.9% 0.3% 0.2% 0.2% % 5.8% 5.3% 24.3% 29.2% (note *) may be based on property value at time of origination or further advance or borrower refinancing. (note **) Typically borrowers with a previous personal bankruptcy or borrowers with record of court claims against them at time of origination. (note ***) This "other" type refers to loans directly to Housing Cooperatives and to Landlords of Multi-Family properties (not included in Buy to Let). HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 3

4 VIII. Cover Pool Information - Residential Assets - Non EUR Pool Asset type: Residential Assets - Non EUR Pool Loans with an external guarantee in addition to a mortgage: n/a Asset balance: 34,430,560 Interest only Loans: 86.4% Average loan balance: 7,420 Loans for second homes / Vacation: 0. Number of loans: 293 Buy to let loans / Non owner occupied properties: 2. Number of borrowers: 273 Limited income verified: 0. Number of properties: 367 Adverse credit characteristics (**): 0. WA remaining term (in months): 47 WA seasoning (in months): 32 Performance 0. Details on LTV 0. WA unindexed LTV (*): n/d 0. WA indexed LTV: 72.% Loans in a foreclosure procedure: 0. Valuation type: Lending Value LTV threshold: 60. Multi-Family Properties Junior ranks: n/d Loans to tenants of tenant-owned Housing Cooperatives: n/a Prior ranks: 32.% Other type of Multi-Family loans (***): n/a n/d: information not disclosed by Issuer n/a: information not applicable Balance per LTV-band 2 8% 6% 4% 2% 8% 6% 4% 2% Indexed LTV % 4.7% 7.3%.7% 2.9%.7% % 5.8% Percentage of residential assets Residential Assets non- EUR 2.2% LTV Interest rate type % of the pool with Indexed LTV>8 Indexed WA LTV % 67.6% % 8.6% 7.2% 4.8% 4.% 4.4% 84.% % 72.% 37.6% 34.6% Chart E: Main country regional distribution Chart F: Seasoning (in months) % 42.6% %. 0.8% 0.2% 2 (note *) may be based on property value at time of origination or further advance or borrower refinancing. (note **) Typically borrowers with a previous personal bankruptcy or borrowers with record of court claims against them at time of origination. (note ***) This "other" type refers to loans directly to Housing Cooperatives and to Landlords of Multi-Family properties (not included in Buy to Let). HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 4

5 Cum Pool Volume COVERED BONDS IX. Cover Pool Information - Commercial Assets Asset type: Commercial Bullet loans: 9.% Asset balance: 352,506,842 Loans in non-domestic currency:.4% Average loan balance: 94,085 Percentage of fixed rate loans: 30.7% Number of loans: 385 Performance Number of borrowers: Number of properties: 434 Loans in a foreclosure procedure: 0. Largest 0 loans: 46.4% Details on LTV Largest 0 borrowers: 53. WA current LTV (*): n/d WA remaining term (in months): 69 WA indexed LTV: 57.4% WA seasoning (in months): 46 Valuation type: Lending Value Main countries: Germany (5) LTV Threshold: 60. Austria (46%) Junior ranks: n/d Netherlands (4%) Prior and Equal ranks: 0. n/d : information not disclosed by Issuer n/a : information not applicable Balance per LTV-band (Indexed LTV) Percentage of commercial assets % 28. Commercial Assets, 22.% % 3.% 0.6% 0.2% 0.8%.4% 0.% 2. Borrower concentration Number of Borrowers Property type % 20.2% 4.4% 2.6%.6% 7.2% 6.2% Mixed Use Offices Retail Industrial Other Hotel Land Chart E: Main country regional distribution 2 22.% 2 6.8% 4.6% 9.4% 8.3% % 5. 5.% % Chart F: Remaining Term (in years) Chart G: Year of loan origination % 3.9% 9.8% 9.8% 3.6% 0.% % 3.% 2.8% 3.3% 0.7% 0.7% 0.4% 22.8% 3.7% 6.8% 0. (note *) Based on original property valuation HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 5

6 X. Cover Pool Information - Non Profit Housing Asset type: Non Profit Housing Loans benefiting from a guarantee: n/a Asset balance: 584,94,696 Interest only Loans: 5.9% Average loan balance: 42,388 Loans for second homes / Vacation: 0. Number of loans:,46 Buy to let loans / Non owner occupied properties: 3. Number of borrowers: 965 Limited income verified: 0. Number of properties: 953 Adverse credit characteristics (**): 0. WA remaining Term (in months): 258 WA seasoning (in months): 98 Performance 0. Details on LTV 0. WA unindexed LTV (*): n/d Loans in arrears ( > 2months): 0. WA Indexed LTV: 44. Loans in a foreclosure procedure: 0. Valuation type: Lending Value LTV threshold: 60. Multi-Family Properties Junior ranks: n/d Loans to tenants of tenant-owned Housing Cooperatives: n/a Prior ranks: 32.% Other type of Multi-Family loans (***): n/a n/d : information not disclosed by Issuer n/a : information not applicable Balance per LTV-band Percentage of multi-family assets Indexed LTV % 8.8% 5.9% 9.7% 4.3% 2.2%.2% 0.2% 0. 0.%.2% Non Profit Housing, 36.6% Seasoning (in months) Interest rate type % % % 5.6% 2.8% % 9.% Chart E: Main country regional distribution % 7.% 0.8% 0. 0.% 0. (note *) may be based on property value at time of origination or further advance or borrower refinancing. (note **) Typically borrowers with a previous personal bankruptcy or borrowers with record of court claims against them at time of origination. (note ***) This "other" type refers to loans directly to Housing Cooperatives and to Landlords of Multi-Family properties (not included in Buy to Let). HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 6

7 Floating rate (no Caps) Fixed rate with reset <2 years COVERED BONDS XI. Cover Pool Information - Supplementary Assets Asset type: Supplementary Assets Repo eligible assets: 0. Asset balance: 24,942,000 Percentage of fixed rate assets: 80. WA remaining Term (in months): 27 Percentage of bullet assets: 00. Number of assets: 2 Assets in non-domestic currency: 0. Number of borrowers: Performance Average assets size: 2,47, Average exposure to borrowers: 24,942, n/d: information not disclosed by Issuer Assets in arrears ( > 2months): 0. n/a: information not applicable Assets in a enforcement procedure: Interest rate type Percentage of supplementary assets Supplementary Assets,.6% Distribution by country, rating Distribution by country rating 8 6 4, HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 7

8 XII. Liabilities Information: Last 50 Issuances ISIN Series Number Currency Outstanding Amount Issuance Date Expected Maturity Legal Final Maturity Interest Rate Type Coupon Principal Payment AT0000AXCN9 n/d EUR 0,000,000 6/08/207 6/08/2032 6/08/2032 Fixed rate.43% AT0000AUAM n/d EUR 3,000,000 20/03/207 20/03/ /03/2025 Fixed rate 0.60 AT0000AL957 n/d EUR 20,000,000 03/06/206 03/06/209 03/06/209 Fixed rate 0.0 XS n/d EUR 500,000,000 /09/205 /09/2020 /09/2020 Fixed rate 0.50 AT0000ABM80 n/d EUR 2,086,000 30/2/204 30/2/ /2/2026 Floating rate EURIBOR 3m + 40 bps XS28475 n/d EUR 500,000,000 22/09/204 22/09/202 22/09/202 Fixed rate 0.75 XS n/d EUR 0,000,000 30/06/204 30/06/202 30/06/202 Floating rate EURIBOR 3m + 25 bps AT0000A8Q37 n/d EUR 20,000,000 27/06/204 27/06/209 27/06/209 Floating rate EURIBOR 6m + 6 bps XS n/d EUR 8,000,000 5/05/204 5/05/209 5/05/209 Fixed rate 0.99 AT0000A5G08 n/d EUR 6,379,000 0/02/204 0/02/209 0/02/209 Floating rate EURIBOR 6m + 30 bps XS n/d EUR 5,000,000 29/0/204 29/0/ /0/2024 Fixed rate 2.25 AT0000A57U8 n/d EUR 2,000,000 24/0/204 24/0/ /0/2024 Fixed rate 2.2 AT0000A0SL3 n/d EUR 3,000,000 05/07/203 05/07/202 05/07/202 Floating rate EURIBOR 6m + 0 bps HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 8

9 CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE PURCHASE, HOLDING, OR SALE. AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, BENCHMARK. suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information. OR MANNER WHATSOEVER. credit ratings or publications when making an investment decision. If in doubt you should contact your financial or other professional adviser. consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 and 3 respectively. MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any rating, agreed to pay to MJKK or MSFJ (as applicable) for appraisal and rating services rendered by it fees ranging from JPY200,000 to approximately JPY350,000,000. MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements. HYPO NOE Landesbank fur Niederoesterreich und Wien AG - Mortgage Covered Bonds Page 9