CaixaBank Covered Bond Programme

Transcription

1 Mortgage Covered Bond Programme CaixaBank Covered Bond Programme Mortgages Public Sector Total Collateral (Mortgages+Public Sector) 149,7 bn Total Collateral for Covered Bonds 137,740 11,977 Elligible Portfolio 95,445 11,977 Elegible vs nonelegible 107,4 bn 42,3 bn Cédulas Hipotecarias Cédulas Territoriales Max. CB Issuance 84,7 bn Used Collateral 92,900 10,000 Covered Bond Issued Amount 74,320 7,000 Over Collaterization 185% 171% Outstanding CBs 81,3 bn 3,4 bn Remaining Issuing Capacity Available Collateral 2,545 1,977 REMAINING ISSUING CAPACITY (*) 2,036 1,384 Mn (*) Issuing Capacity= 80% of Collateral Available for C. Hipotecarias and 70% for C. Territoriales (**) (*) Issuing Due to Capacity= the early amortisation 80% of Collateral of 3 Available Bn of retained for C. cedulas Hipotecarias on April and 15th, 70% OC for ratio C. Territoriales is currently higher Data in Million Mortgage Covered Bond Issues: Maturity Profile 1 3,420 Available Issuing Capacity CB Collateral by Type 8, ,000 6,000 5,000 4, ,907 1, ,200 6,030 1,730 4,042 3,247 2,532 3, ,063 3,500 2,458 4,250 1,750 27% 8% 65% 3,000 3,999 1,250 4,021 2,000 1, , , , (1) Includes Multiname Covered Issuance Data in million Public Issues Retained Issues Residential Commercial Public Sector 1

2 Mortgage Covered Bond Programme CaixaBank Covered Bond Programme OC Evolution Legal OC 128% Solid levels of Over Collaterization Remarkable facts: Q2 2012: Generation of additional collateral for the ECB credit facility to anticipate any potential deterioration in markets Q3 2012: Integration of Banca Cívica 2

3 Mortgage Covered Bond Programme 1. Residential Assets. Collateral Cover Pool Description Total Mortgage Loans (ex securitization) 97,030,558 Floating Rate loan Interest Rate type: 99.43% Number of loans 1,239,047 WA Interest Rate (Floating Rate loans) 2.33% Average Loan balance ( ) 78,311 WA Interest Rate (Fixed Rate loans) 5.24% Number of Borrowers 1,053,901 Number of properties 1,312,024 WA Seasoning in months yrs WA Remaining term in months yrs Expected WA life of the portfolio in years 12 yrs Avg LTV (%) 45.74% WA LTV (%) 57.39% Portfolio Breakdown Unindexed LTV Ranges Distributions Total Loan Balance (ex sec) k % Balance per LTV-band 0-40% 19,130, % >40%- 50% 13,022, % >50%- 60% 17,229, % >60%- 70% 21,597, % >70%- 80% 16,297, % >80%- 85% 3,349, % >85%- 90% 2,894, % >90%- 95% 1,895, % >95%- 100% 722, % >100%- 105% 275, % >105% 615, % 97,030, % 20.0% 15.0% 10.0% 5.0% 0.0% 90% of the loans with LTV < 80% 22.3% 19.7% 17.8% 16.8% 13.4% 3.5% 3.0% 2.0% 0.7% 0.3% 0.6% Seasoning (months) k % < 12 3,050, % Seasoning 12-<24 4,463, % 24-<36 7,017, % 36-<60 12,630, % 60 69,868, % Total: 97,030,558 < <24 3.1% 4.6% Loans in Arreas <2m 0.13% 2m - <6m 0.28% 6m - <12m 0.99% 12m 0.00% in foreclosure 2.07% (1) Data of foreclosures not available for loans granted in Cajasol and CAN branches 24-<36 36-< % 13.0% 72.0% 3

4 Mortgage Covered Bond Programme 1. Residential Assets. Collateral Property type k % Specific Loan and Borrower characteristics First Home 86,403, % Second Home 8,363, % Not Owner occupied 1,230, % Other 1,034, % Total: 97,030,558 Loan Purpose k % Adquisition 61,773, % Re-mortgage 17,658, % Equity release 4,275, % Rehabilitation 6,190, % New construction 4,531, % Other 2,602, % Total: 97,030,558 Regional Distribution k % 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 70.0% 60.0% 50.0% 40.0% 89.0% 8.6% 1.3% 1.1% First Home Second Home Not Owner occupied Other 63.7% Catalonia 28,328, % Andalusia 17,549, % Madrid 12,668, % Canary Islands 6,548, % Valencia 5,611, % 30.0% 20.0% 10.0% 0.0% 18.2% 4.4% 6.4% 4.7% Adquisition Re-mortgage Equity release Rehabilitation New construction 2.7% Other Castile León 3,795, % Balearic Islands 3,767, % Navarra 3,191, % Castile La Mancha 3,166, % Basque Country 2,714, % Galicia 2,078, % Murcia 2,070, % Aragon 1,552, % Cantabria 896, % Extremadura 868, % Others/ No info 829, % Asturias 797, % La Rioja 503, % Ceuta 74, % Melilla 17, % Total: 97,030,558 4

5 Mortgage Covered Bond Programme 2. Commercial Assets. Collateral Cover Pool Description Total Mortgage Loans (ex securitization) ( k) 40,709,519 Floating Rate loan Interest Rate type: 96.6% Number of loans 205,439 WA Interest Rate (Floating Rate loans) 2.96% Average Loan balance ( ) 198,159 WA Interest Rate (Fixed Rate loans) 5.13% Number of Borrowers 92,618 Number of properties 251,560 WA Seasoning in months yrs WA Remaining term in months yrs Average LTV (%) 42.43% WA LTV (%) 58.40% Portfolio Breakdown Unindexed LTV Ranges Distribution Total Loan Balance (ex sec) k % Specific Loan and Borrower characteristics 0-40% 9,443, % >40%- 50% 5,879, % >50%- 60% 6,766, % >60%- 70% 7,514, % >70%- 80% 4,710, % >80%- 85% 1,227, % >85%- 90% 906, % >90%- 95% 850, % >95%- 100% 1,547, % >100%- 105% 623, % >105% 1,237, % 40,709,519 Property Type k % Offices 1,469, % Retail 5,263, % Industrial 3,375, % Hotel 1,680, % Flats & Houses 12,571, % Land 6,546, % Mixed Use and Others 9,802, % Total: 40,709,519 25% 20% 15% 10% 5% 0% 35% 30% 25% 20% 15% 10% 5% 0% 84% of the loans with LTV < 80% 3.6% 23.2% 14.4% 16.6% 12.9% 18.5% 8.3% 11.6% 3.0% 2.2% 2.1% 3.8% Property Type 4.1% 30.9% Offices Retail Industrial Hotel Flats & Houses 1.5% 16.1% Land 3.0% 24.1% Mixed Use and Others 5

6 Mortgage Covered Bond Programme 2. Commercial Assets. Collateral Loan Maturity (yrs) Loan Maturity (yrs) k % 5 8,078, % >5-10 7,808, % > ,584, % > ,726, % > ,511, % > % Total: 40,709,519 5 >5-10 >10-15 > % 19.2% 18.6% 21.4% Regional Distribution k % > % Andalusia 8,610, % Catalonia 8,531, % Madrid 6,671, % Canary Islands 4,047, % Valencia 1,795, % Castile León 1,624, % Castile La Mancha 1,530, % Balearic Islands 1,342, % Basque Country 1,323, % Navarra 1,180, % Others/ No info 1,057, % Galicia 699, % Aragon 629, % Murcia 565, % Extremadura 346, % Cantabria 286, % La Rioja 230, % Asturias 205, % Ceuta 21, % Melilla 7, % Total: 40,709,519 >50 0.0% 6

7 Spanish Public Sector Covered Bonds Programme 3. Public Sector. Collateral Cover Pool Description Total Mortgage Loans (ex securitization) ( k) 11,977,261 Number of loans 6,651 Floating Rate loan Interest Rate type: 92.1% Average Loan balance ( ) 1,800,821 WA Interest Rate (Floating Rate loans) 2.93% Number of Borrowers 1,869 WA Interest Rate (Fixed Rate loans) 4.52% Average exposure to borrowers ( ) 6,408,379 WA Remaining term in months yrs WA Seasoning in months (1) yrs Avg LTV (%) 57.3% WA LTV (%) 72.7% Portfolio Breakdown Loan Maturity Loan Maturity k % Loan Maturity Loan (yrs) Maturity (yrs) < ,886,279 2,577,789 16% 22% 12-<24 791,052 7% 12-<24 899,655 8% 24-<36 792,453 7% 24-<36 36-<60 2,341, ,265 20% 8% 36-< ,847,918 1,972,401 50% 16% 60 Total: 11,658,862 5,589,151 47% Total: 11,977,261 Loans in Arrears % Loans in Arreas <2m 0.03% 2m - <6m 0.22% <2m 0.0% 6m <12m 0.49% 2m - <6m 0.3% 12m 0.59% 6m - <12m 0.3% 12m 0.7% <60 24-<36 12-<24 < <60 24-<36 12-<24 8% 8% 7% 7% 16% 22% 20% 47% 50% < 12 16% 7

8 Outstanding Issues 4. CaixaBank s Issuances Spanish Mortgages - Pubic Deals Covered Bonds ISIN Code Currency Issue Date Outstanding ( ) Maturity Rate Investor type ES EUR 30/06/ ,000,000 20/08/2013 Eur 3m+0.005% Institutional ES EUR 16/09/2010 1,000,000,000 16/09/ % Institutional ES EUR 10/02/ ,000,000 27/09/ % Institutional ES EUR 18/10/ ,000,000 18/10/2013 Eur 3m+0.02% Institutional ES EUR 31/10/2003 2,000,000,000 31/10/ % Institutional ES EUR 11/11/ ,000,000 11/11/2013 Eur 3m+1.63% Institutional ES EUR 18/03/ ,000,000 31/01/ % Institutional ES EUR 26/05/2009 2,000,000,000 26/05/ % Institutional ES EUR 30/03/ ,000,000 20/06/2014 Eur 3m+0.01% Institutional ES EUR 18/01/2006 2,500,000,000 30/06/ % Institutional ES EUR 13/05/ ,000,000 30/07/ % Institutional ES EUR 06/10/ ,000,000 06/10/2014 Eur 6m+1.30% Institutional ES EUR 18/03/ ,000,000 02/02/ % Institutional ES EUR 18/03/2011 1,250,000,000 18/03/ % Institutional ES EUR 18/08/ ,000,000 30/04/ % Institutional ES EUR 05/10/2005 2,500,000,000 05/10/ % Institutional ES EUR 08/10/ ,000,000 08/10/2015 Eur 6m+1.47% Institutional ES EUR 15/10/ ,000,000 15/10/ % Institutional ES EUR 22/02/2011 2,200,000,000 22/02/ % Institutional ES EUR 31/03/2010 1,000,000,000 31/03/ % Institutional ES EUR 27/04/2011 1,250,000,000 27/04/ % Institutional ES EUR 16/06/ ,000,000 16/06/2016 Eur 3m+0.06% Institutional ES EUR 20/04/ ,646,000 30/06/2016 Eur 3m+0.1% Retail ES EUR 18/09/2006 7,982,000 30/09/2016 Eur 3m+0.1% Retail ES EUR 28/11/ ,000,000 28/11/2016 Eur 3m+0.06% Institutional ES EUR 28/06/2006 2,000,000,000 26/01/ % Institutional ES EUR 14/11/ ,000,000 26/01/ % Institutional ES EUR 16/02/2012 1,000,000,000 16/02/ % Institutional ES EUR 30/03/ ,500,000 20/03/2017 Eur 3m+0.045% Institutional ES EUR 13/07/ ,000,000 20/03/2017 Eur 3m+0.045% Institutional ES EUR 22/01/2007 6,380,000 30/03/2017 Eur 3m +0.00% Retail ES EUR 22/09/ ,000,000 22/09/2017 Eur 3m + 1,50% Institutional ES EUR 09/05/ ,462,000 30/09/2017 Eur 3m+0.1% Retail 8

9 Outstanding Issues 4. CaixaBank s Issuances Spanish Mortgages - Pubic Deals Covered Bonds ISIN Code Currency Issue Date Outstanding ( ) Maturity Rate Investor type ES EUR 09/01/2006 1,000,000,000 09/01/2018 Eur 3m+0.075% Institutional ES EUR 22/03/2013 2,000,000,000 22/03/ % Institutional ES EUR 02/07/ ,000,000 02/07/2018 Eur 3m+0.439% Institutional ES EUR 31/10/2003 1,000,000,000 31/10/ % Institutional ES EUR 18/12/ ,000,000 18/12/2018 Eur 3m+0.65% Institutional ES EUR 07/05/ ,000,000 07/05/2019 Eur 3m+0.439% Institutional ES EUR 04/06/2007 2,500,000,000 04/06/ % Institutional ES EUR 09/07/ ,000,000 09/07/2020 Eur 3m + 2,20% Institutional ES EUR 18/01/2006 2,500,000,000 18/01/ % Institutional ES EUR 14/05/ ,000,000 14/05/2021 Eur 3m+1% Institutional ES EUR 28/06/2006 1,000,000,000 26/01/ % Institutional ES EUR 12/12/ ,000,000 12/12/2023 Eur 3m+1.092% Institutional ES EUR 17/02/2005 2,500,000,000 17/02/ % Institutional ES EUR 13/06/ ,000,000 13/06/ % Institutional Spanish Mortgages - Retained Deals Covered Bonds ISIN Code Currency Issue Date Outstanding ( ) Maturity Rate Investor type ES EUR 25/01/2012 1,000,000,000 25/01/ % Institutional ES EUR 25/01/2012 1,000,000,000 25/01/ % Institutional ES EUR 24/05/2012 1,000,000,000 24/05/ % Institutional ES EUR 25/01/2012 1,500,000,000 25/01/ % Institutional ES EUR 24/05/2012 1,000,000,000 24/05/ % Institutional ES EUR 27/01/2012 1,000,000,000 27/01/ % Institutional ES EUR 24/05/2012 2,000,000,000 24/05/ % Institutional ES EUR 26/07/ ,000,000 26/07/2020 Eur 6m+4.70% Institutional ES EUR 07/06/ ,000,000 07/06/2021 Eur 6m +3.85% Institutional ES EUR 07/06/2012 2,000,000,000 07/06/2022 Eur 6m +3.85% Institutional 9

10 Outstanding Issues 4. CaixaBank s Issuances Spanish Mortgages - Retained Deals Covered Bonds ISIN Code Currency Issue Date Outstanding ( ) Maturity Rate Investor type ES EUR 07/06/2012 1,000,000,000 07/06/2023 Eur 6m +3.80% Institutional ES EUR 07/06/2012 3,500,000,000 07/06/2024 Eur 6m +3.80% Institutional ES EUR 07/06/2012 1,000,000,000 07/06/2025 Eur 6m +3.75% Institutional ES EUR 13/06/2012 1,200,000,000 13/06/2025 Eur 3m+ 5.00% Institutional ES EUR 19/06/2012 4,250,000,000 19/06/2026 Eur 6m +3.75% Institutional ES EUR 03/07/2012 1,000,000,000 03/07/2027 Eur 6m+4% Institutional ES EUR 17/07/ ,000,000 17/07/2027 Eur 6m+4.25% Institutional ES EUR 17/07/2012 3,000,000,000 17/07/2028 Eur 6m+4.25% Institutional Registered - Covered Bonds ISIN Code Currency Issue Date Outstanding Maturity Rate Investor type USD 12/09/ ,000,000 12/09/2013 Libor3m-0.04% Institutional EUR 26/10/ ,000,000 13/06/2014 Eur 3m +0.00% Institutional EUR 07/07/ ,000,000 07/07/2014 Eur 3m +0.00% Institutional EUR 25/10/ ,000,000 25/10/2014 Eur 3m-0.033% Institutional EUR 12/12/ ,000,000 12/12/2016 Eur 3m +0.00% Institutional EUR 01/10/ ,000,000 01/10/ % Institutional Spanish Mortgages - Covered Bonds (non ) ISIN Code Currency Issue Date Outstanding Maturity Rate Investor type XS GBP 30/09/ ,000,000 30/09/2015 Libor 1A+0.02% Institutional XS USD 01/11/ ,000,000 02/02/2037 Libor 3m +0.00% Institutional Spanish Public Sector - Covered Bonds 10

11 Outstanding Issues 4. CaixaBank s Issuances Spanish Public Sector - Covered Bonds ISIN Code Currency Issue Date Outstanding ( ) Maturity Rate Investor type ES EUR 20/10/2011 1,500,000,000 20/03/ % Institutional ES EUR 26/04/ ,000,000 26/04/ % Institutional ES EUR 20/10/2011 2,500,000,000 19/06/ % Institutional ES EUR 27/01/ ,000,000 27/01/ % Institutional ES EUR 01/02/ ,000,000 01/02/ % Institutional ES EUR 24/05/ ,000,000 24/05/ % Institutional ES EUR 07/06/2013 1,300,000,000 07/06/ % Institutional ES EUR 24/05/ ,000,000 24/05/ % Institutional Spanish Multi-Issuers - Covered Bonds ISIN Code Currency Issue Date CaixaBank Contribution ( ) Total Issue Oustanding ( ) Maturity Rate Investor type ES EUR 02/12/ ,677,420 1,000,000,000 02/12/ % Institutional ES EUR 05/04/ ,000,000 2,500,000,000 05/04/ % Institutional ES EUR 24/07/ ,000,000 1,450,000,000 27/07/ % Institutional ES EUR 10/09/ ,000, ,000,000 10/09/2014 Eur 12m+0.12% Institutional ES EUR 16/11/ ,341,463 3,000,000,000 16/11/ % Institutional ES EUR 20/02/ ,000, ,000,000 20/02/ % Institutional ES EUR 11/03/ ,000,000 2,075,000,000 09/03/ % Institutional ES EUR 15/03/ ,041,666 3,500,000,000 15/03/ % Institutional ES EUR 28/06/ ,794,872 1,900,000,000 28/06/2015 Eur 3m % Institutional ES EUR 04/12/ ,000, ,000,000 04/12/2015 Eur 3m % Institutional ES EUR 25/02/ ,000,000 2,000,000,000 01/03/ % Institutional ES EUR 12/12/ ,888,888 3,600,000,000 12/03/ % Institutional ES EUR 22/03/ ,000,000 3,600,000,000 12/03/ % Institutional ES EUR 29/05/ ,000,000 1,585,000,000 08/04/2016 Eur 3m +0.06% Institutional ES EUR 13/06/ ,000,000 2,295,000,000 13/06/ % Institutional ES EUR 18/12/ ,000,000 2,575,000,000 16/12/ % Institutional ES EUR 19/03/ ,000,000 2,000,000,000 17/03/ % Institutional ES EUR 26/05/ ,000,000 1,000,000,000 24/05/2017 Eur 3m+0.086% Institutional ES EUR 15/06/ ,000,000 2,000,000,000 20/06/ % Institutional 11

12 Outstanding Issues 4. CaixaBank s Issuances Spanish Multi-Issuers - Covered Bonds ISIN Code Currency Issue Date CaixaBank Contribution ( ) Total Issue Oustanding ( ) Maturity Rate Investor type ES EUR 20/02/ ,000,000 1,195,000,000 20/02/2018 Eur 3m % Institutional ES EUR 12/06/ ,000,000 2,230,000,000 12/06/ % Institutional ES EUR 23/10/ ,000,000 1,150,000,000 19/10/ % Institutional ES EUR 02/12/ ,322,580 2,100,000,000 02/12/ % Institutional ES EUR 16/11/ ,658,537 1,100,000,000 16/11/ % Institutional ES EUR 15/03/ ,958,334 1,500,000,000 15/03/ % Institutional ES EUR 13/06/ ,000,000 1,250,000,000 13/06/ % Institutional ES EUR 22/03/ ,000,000 1,500,000,000 22/03/ % Institutional ES EUR 29/03/ ,000,000 1,250,000,000 29/03/ % Institutional ES EUR 25/05/ ,000,000 2,310,000,000 10/04/ % Institutional ES EUR 16/02/ ,000,000 1,300,000,000 21/02/ % Institutional ES EUR 12/12/ ,222,224 1,400,000,000 12/12/ % Institutional ES EUR 23/10/ ,000,000 1,600,000,000 23/10/ % Institutional ES EUR 28/06/ ,205,000 2,000,000,000 28/06/ % Institutional ES EUR 28/03/ ,000,000 1,310,000,000 28/03/ % Institutional ES EUR 23/05/ ,000,000 1,545,000,000 23/05/ % Institutional ES EUR 10/04/ ,000,000 1,310,000,000 08/04/ % Institutional Spanish Multi-Issuers - Retained Covered Bonds ISIN Code Currency Issue Date CaixaBank Contribution ( ) Total Issue Oustanding ( ) Maturity Rate Investor type ES EUR 17/10/ ,000,000 4,200,000,000 23/10/2013 Eur 3m % Institutional ES EUR 21/11/2008 1,050,000,000 4,105,000,000 22/11/2015 Eur 3m % Institutional ES EUR 19/10/ ,000,000 2,810,000,000 21/10/2017 Eur 3m+0.165% Institutional ES EUR 21/01/ ,000,000 2,810,000,000 21/10/2017 Eur 3m % Institutional ES EUR 16/04/ ,000,000 2,810,000,000 21/10/2017 Eur 3m % Institutional ES EUR 16/04/ ,000,000 2,810,000,000 21/10/2017 Eur 3m % Institutional 12

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