PB Consumer PB Consumer GmbH Steinweg Frankfurt am Main Germany fax: +49 (0) Deutsche Postbank AG

Transcription

1 Deal Name: Issuer: GmbH Steinweg Frankfurt am Main Germany fax: +49 (0) Seller of the Receivables: Servicer Name: Reporting Entity: Germany Contact Persons: Mr. Sven Thomas Mr. Thomas Lippmann phone: +49 (0) Administrator: Wilmington Trust SP Services GmbH Steinweg Frankfurt am Main Germany phone: +49 (0) fax: +49 (0) Basic Information Regarding the Notes Class Name Original Note Balance ISIN Fixed / Interest Base Spread Floating Current Rating Moody's Class A Notes 865,800, DE000A0XFEK0 Floating 1-Month Euribor 125 bps Class B Notes 39,900, DE000A0XFEL8 Floating 1-Month Euribor 250 bps Class C Notes 26,000, DE000A0XFEM6 Floating 1-Month Euribor 400 bps Class D Notes 14,000, DE000A0XFEN4 Floating 1-Month Euribor 550 bps Class E Notes 16,000, DE000A0XFEP9 Floating 1-Month Euribor 950 bps Class F Notes 35,400, DE000A0XFEQ7 Floating 1-Month Euribor 100 bps Liquidity Reserve Notes 8,300, DE000A0XFER5 Floating 1-Month Euribor --- N.R. Aaa Aa2 A2 Baa2 Ba1 N.R. Page 1 / 22

2 Table of Contents Cover Sheet... 1 Table of Contents... 2 Deal Overview... 3 Poolinformation at Pool Cut... 3 Counterparties... 4 Future Rating Related Triggers... 5 Information Regarding the Notes... 6 Pro Rata Test Default Trigger Liquidity Reserve Account... 8 Waterfall... 9 Set-Off Risk...10 Commingling Risk...10 Interest Rate Swap Run Out Schedule Overview of the Asset Pool...14 Deficiency Events...14 Dunning Level...15 Prepayments...16 Pool Stratifications Page 2 / 22

3 Deal Overview Cut-Off Date: Issue Date: Legal Maturity Date: Reporting Period: June 2011 Reporting Frequency: monthly Period No.: 27 Collection Period: until Determination Date: Reporting Date: Payment Date: Next Payment Date: th Business Day of each month (for previous Collection Period) 15th Business Day of each month (for previous Collection Period) 28th day of each calendar month following the relevant Determination Date Interest Accrual Period: (including) until (excluding) Poolinformation at Cut-Off Date Contract Type Number of Number of Original Gross Balance (*) Original Gross Balance Original Net Balance (**) Original Net Balance Postbank Privatkredit 73, % 1,077,580, % 1,019,617, % - thereof insurance for death 33, % 501,118, % 454,457, % - thereof insurance for inability to work 13, % 205,375, % 181,226, % - thereof insurance for unemployment 7, % 104,124, % 89,620, % - thereof no insurance 39, % 576,462, % 565,159, % DSL Privatkredit 6, % 107,796, % 103,780, % - thereof insurance for death 1, % 28,023, % 25,606, % - thereof insurance for inability to work % 14,090, % 12,711, % - thereof insurance for unemployment % 1,314, % 1,111, % - thereof no insurance 4, % 79,772, % 78,174, % Total 79, % 1,185,377, % 1,123,397, % (*) Original Gross Balance: Balance including insurance premium and including upfront adminstration costs (**) Original Net Balance: Balance without insurance premium and without upfront adminstration costs Page 3 / 22

4 Counterparties Arranger: Name Friedrich-Ebert-Allee Bonn Germany Rating Moody's Short term Long term Lead Manager: Friedrich-Ebert-Allee Bonn Germany Account Bank: Banco Santander, S.A., Frankfurt Branch Eschersheimer Landstrasse Frankfurt am Main Germany P-1 Aa2 Ratings of Banco Santander Headquarters, Madrid Paying Agent : BNP Paribas Securitisation Service, Frankfurt Branch Attn: Angela Faranda Europa-Allee Frankfurt am Main Germany P-1 Aa2 Ratings of BNP Paribas Headquarters, Paris Listing Agent / Cash Manager: BNP Paribas Securitisation Service, Luxembourg Branch Attn: Jean-Francois Liegeois 33, Avenue de Gasperich, Howald-Hesperage L-2085 Luxembourg Luxembourg P-1 Aa2 Ratings of BNP Paribas Headquarters, Paris Swap Counterparty: Friedrich-Ebert-Allee Bonn Germany P-1 A1 Security Trustee: Wilmington Trust (London) Ltd. Attn: Sunil Masson Fifth Floor, 6 Broad Streed Place London EC2M7JH United Kingdom Page 4 / 22

5 Rating Agencies: Moody's Deutschland GmbH Attn: Monitoring An der Welle Frankfurt am Main Germany monitor.abs@moodys.com Rating of : Rating Moody's Short term Long term P-1 A1 Future Rating Related Triggers: Set Off Risk: The Originator has agreed to within 5 (five) Business Days upon becoming aware thereof pay the Set-Off Risk Reserve Required Amount to the Issuer directly into the Set-Off Risk Reserve Account if the Originator's rating is reduced below Baa3 by Moody s. Commingling Risk: In order to mitigate the Commingling Risk (i) the Servicer has undertaken to transfer the Collections received and cleared by it if the rating of the Servicer is below (a) Baa1 by Moody s two Business Days after the day on which the funds are available on any of the Collection Accounts and (b) Baa3 by Moody s on the day on which the funds are available on any of the Collection Accounts (taggleich) to the Operating Account and (ii) the Issuer may replace the Servicer inter alia if the Servicer becomes Insolvent. At the Servicer s rating being withdrawn or reduced below Ba2 by Moody s the Servicer will without undue delay and not later than 15 (fifteen) Business Days after receipt of the written request of the Security Trustee (acting on behalf of the Issuer) (a) open the Second Collection Account with the Second Collection Account Bank; (b) pledge the Second Collection Account to the Security Trustee and (c) either (x) instruct the Debtors to make all future payments due under the relevant Consumer Loan Agreement directly into the Second Collection Account or (y) ensure that all future payments due under the relevant Consumer Loan Agreement are debited (eingezogen) directly to the Second Collection Account. For the avoidance of doubt, in such case the Servicer will continue to transfer the Collections received and cleared by it on the day on which the funds are available on the Second Collection Account (taggleich) to the Operating Account. Page 5 / 22

6 Rating of the Notes Class Moody's Original Current Class A Notes Aaa Aaa Class B Notes Aa2 Aa2 Class C Notes A2 A2 Class D Notes Baa2 Baa2 Class E Notes Ba1 Ba1 Class F Notes N.R. N.R. Liquidity Reserve Notes N.R. N.R. Credit Enhancement of the Notes Class CE (*) as of Issue Date CE as of Issue Date CE as of CE as of Beginning of Beginning of Interest Accrual Interest Period Accrual Period CE as of Ending of Interest Accrual Period CE as of Ending of Interest Accrual Period Class A Notes 131,300, % 92,516, % 89,469, % Class B Notes 91,400, % 67,222, % 65,419, % Class C Notes 65,400, % 50,740, % 49,746, % Class D Notes 51,400, % 41,865, % 41,308, % Class E Notes 35,400, % 31,722, % 31,663, % Class F Notes None None None (*) CE: Credit Enhancement Call Options Clean-up Call has the right to repurchase all of the Receivables if (a) the Aggregate Outstanding Amount represents less than 10 (ten) per cent. of the Aggregate Outstanding Amount as at the Issue Date; and (b) the Security Trustee has given its prior written consent to such repurchase; and (c) the Originator has reimbursed the Issuer's costs and expenses in respect of the repurchase of the Purchased Receivables. Regulatory Call has the right to repurchase all of the Receivables if any change in (i) the laws of the Federal Republic of Germany or the official interpretation or application of such laws occurs or (ii) any directive or any other ruling of the European Union or the official interpretation or application of such rulings or (iii) any accord, standard or recommendation of the Basel Committee on Banking Supervision or an official communication of previously not existing or not publicly available official interpretation of any such accord, standard or recommendation or a change in the official interpretation, implementation or application of any such accord, standard or recommendation occurs which becomes effective on or after the Issue Date and which, for reasons outside the control of the Originator and the Issuer would: (a) restrict the Issuer from performing any of its material obligations under any Note; or (b) with respect to the Originator result in a less favourable capital adequacy treatment of the transaction contemplated by the Transaction Documents compared to the situation that existed on the Issue Date immediately after the issue of the Notes; or (c) oblige the Issuer to make any tax withholdings or deductions for reasons of tax in respect of any payment on the Notes. Page 6 / 22

7 Information regarding the Payments to the Notes Interest Accrual Period: (including) until (excluding) Interest Base Rate Determination: Month EURIBOR Value: 1.310% Payment Date: Accrued days in the relevant Interest Accrual Period: 30 Day Count Convention: Currency: ACT/360 EUR Interest Payments to the Notes Class Beginning Balance of the Class Spread Current Interest Rate Number of Notes Interest paid per Note Interest paid per Class Unpaid Interest per Class Cumulated unpaid Interest per Class Class A Notes 262,981, bps 2.560% 8, , Class B Notes 25,293, bps 3.810% , Class C Notes 16,482, bps 5.310% , Class D Notes 8,874, bps 6.810% , Class E Notes 10,142, bps % , Class F Notes 35,400, bps 2.310% , Liquidity Reserve Notes 5,000, , Payments to the Notes Class Original Balance of the Class Beginning Balance of the Class Distribution Ending Balance of the Class Current Bond Factor Class A Notes 865,800, ,981, ,922, ,059, Class B Notes 39,900, ,293, ,242, ,050, Class C Notes 26,000, ,482, , ,672, Class D Notes 14,000, ,874, , ,438, Class E Notes 16,000, ,142, , ,644, Class F Notes 35,400, ,400, ,400, Liquidity Reserve Notes 8,300, ,000, ,000, Deficiency Ledger of the Notes Class Debited Balance at Beginning of Interest Accrual Debited Amount in Current Collection Credited Amount at Payment Date Debited Balance at End of Interest Accrual Class A Notes Class B Notes Class C Notes Class D Notes Class E Notes Class F Notes 3,677, , , ,736, Page 7 / 22

8 Pro-Rata Test The Pro-Rata Test is passed, if all Subtests are passed This Period's result for the Pro-Rata Test: passed Subtest a Subtest b The ratio of the Aggregate Outstanding Class A Note Amount to the aggregate Note Amount of the outstanding Class B Notes, Class C Notes, Class D Notes and Class E Notes has at least halved in comparison to the same ratio calculated on the Closing Date. Trigger Value: <= 4.51 Current Value: 4.33 The Senior Deficiency Ledger (including the Senior Deficiency Sub-Ledgers) does not provide for a debit balance after the application of Issuer Receipts in accordance with the relevant Priority of Payments. Trigger Value: = 0.00 Current Value: 0.00 passed passed Subtest c The Liquidity Reserve Account Required Amount is paid up in full. passed Trigger Value: >= 5,000, Current Value: 5,000, Subtest d No Issuer Event of Default has occured. passed Subtest e No Default Trigger has occured on the preceding Collection Date. passed Trigger Value: <= 0.40 % Current Value: 0.13 % Subtest f The Aggregate Outstanding Note Amount exceeds 10% of the Initial Senior Note Amount. passed Trigger Value: > % Current Value: % Default Trigger Collection Period June 2011 Collection Period - 1 May 2011 Collection Period - 2 April 2011 Σ Current Value = 501, , ,28 ) = Σ 355,222, , ,66) 0,13% Default Trigger occurs when the Default Ratio is equal to or higher than 0.40%. Current Trigger Result: passed Liquidity Reserve Account Liquidity Reserve at Beginning of Period: Repaid / Drawn in Interest Period: Liquidity Reserve at Ending of Period: 5,000, ,000, Page 8 / 22

9 Waterfall Pro Rata Payment - Prior to Enforcement Notice Revenue Available (a) Interest paid in respect of a Purchased Receivable 1,837, (b) Interest Servicer Revoked Amount Advances 0.00 (c) Recoveries Available 34, (d) Liquidity Reserve Note Revenue Amount 4, (e) Netted Amounts paid by the Interest Swap Counterparty 0.00 (f) Amounts standing to the credit of the Operating Account 3, (g) Revenue Shortfall Amount for the relevant Interest Accrual Period 0.00 Total Revenue Available Amount 1,880, Priority of Payments in respect of revenue (i) Obligation of the Issuer 0.00 (ii) Fees and Expenses to be paid to the Security Trustee in an Amount of up to (and including) the Security Trustee Fee Cap 0.00 (iii) Liquidity Reserve Top Up Amount 0.00 (iv) Any Interest Servicer Revoked Amount Advances repayable to the Servicer 0.00 (v) Administrative Expenses in an amount of up to (and including) the Administrative Expenses Cap 177, (vi) Netted Amounts due under the Interest Swap 331, (vii) Liquidity Reserve Note Revenue Amount 4, (viii) Interest Class A 561, (ix) Credit Amount to Class A Deficiency Sub Ledger 0.00 (x) Interest Class B 80, (xi) Credit Amount to Class B Deficiency Sub Ledger 0.00 (xii) Interest Class C 72, (xiii) Credit Amount to Class C Deficiency Sub Ledger 0.00 (xiv) Interest Class D 50, (xv) Credit Amount to Class D Deficiency Sub Ledger 0.00 (xvi) Interest Class E 91, (xvii) Credit Amount to Class E Deficiency Sub Ledger 0.00 (xviii) Liquidity Reserve Ramp Up Amount 0.00 (xix) Issuer Close Out Payment Obligation 0.00 (xx) Interest Class F 68, (xxi) Credit Amount to Class F Deficiency Sub Ledger 442, (xxii) Any Damages payable to a party under a Transaction Document 0.00 (xxiii) Success Fee to the Originator 0.00 (xxiv) Transaction gain 0.00 Total Revenues Paid 1,880, Available Amount (a) Repayment and prepayment of principal in respect of a Purchased Receivable 15,466, (b) Amounts to be received by payments of a Non-Eligible Receivable Repurchase Price 0.00 (c) Liquidity Reserve Account Release Amount 0.00 (d) Amounts to be received by Servicer Revoked Amount Advances 0.00 (e) Amounts to be credited to the Deficiency Ledger 442, Total Available Amount 15,909, Priority of Payments in respect of principal (i) Servicer Revoked Amount Advances 0.00 (ii) Liquidity Reserve Account Release Amount 0.00 (iii) amounts due under Class A Note 12,922, (iv) amounts due under Class B Note 1,242, (v) amounts due under Class C Note 809, (vi) amounts due under Class D Note 436, (vii) amounts due under Class E Note 498, (viii) amounts due under Class F Note 0.00 (ix) Amounts paid to the Operating Account Total Paid 15,909, Page 9 / 22

10 Set-Off Risk Current Rating Moody's Set-Off Risk Release Rating means a rating of Baa3 or better by Moody's A1 passed Set-Off Risk Reserve (in case Postbank's long term rating is below the Set-Off Risk Rating) Set-Off Risk Reserve at Beginning of Collection Period Rise / Fall in Collection Period Set-Off Risk Reserve at Ending of Collection Period The Maximum of the following values % of Aggregate Balance 1.04% 1.07% Value 3,710, , ,615, (i) The aggregate of the Debtor Set-Off Potential for all Debtors on the relevant Collection Date. 3,477, (ii) The Sum of the aggregate of the Debtor Set-Off Potential for all Debtors on the last three relevant Collection Dates divided by three. 3,615, Commingling Risk Servicer s rating being withdrawn or reduced below Ba2 by Moody s (Required Servicer Level 3 Rating) Current Rating Moody's A1 passed Commingling Risk Reserve (in case Postbank's long term rating is below the Required Servicer Level 3 Rating) The Commingling Risk Reserve ist calculated as 1.5% of the Aggregate Outstanding Amount with a maximum of EUR 25,000,000 and a minimum of EUR 8,000,000. Value Commingling Risk Reserve at Beginning of Collection Period 8,000, Rise / Fall in Collection Period Commingling Risk Reserve at Ending of Collection Period ,000, Page 10 / 22

11 Interest Rate Swap Period No. Days Accrued in Interest Period Notes Amount of Hedged Notes Debit Balance on the Deficiency Ledger Swap Outstanding Amount Fix Payment Floating Payment Net Payment ,100, ,100, ,019, , ,189, ,180, ,180, ,084, , ,279, ,844, ,844, ,826, , ,203, ,424, ,424, ,886, , ,456, ,374, ,374, ,812, , ,447, ,395, ,395, ,687, , ,379, ,417, ,417, ,785, , ,470, ,995, , ,973, ,455, , ,192, ,145, ,145, ,550, , ,247, ,708, ,708, ,399, , ,153, ,066, , ,749, ,443, , ,195, ,469, ,173, ,296, ,345, , ,123, ,896, ,244, ,651, ,295, , ,079, ,828, ,858, ,969, ,284, , ,059, ,957, ,999, ,957, ,196, , , ,170, ,091, ,078, ,263, , , ,145, ,290, ,855, ,062, , , ,708, ,149, ,558, ,054, , , ,909, ,169, ,740, ,079, , , ,010, ,184, ,825, , , , ,514, ,164, ,349, , , , ,651, ,194, ,457, , , , ,796, ,397, ,398, , , , ,984, ,204, ,779, , , , ,827, ,549, ,277, , , , ,145, ,049, ,096, , , , ,174, ,677, ,497, , , , Swap Fixed Rate: 2.43% Run Out Schedule Collection Period Outstanding Balance Beginning of Collection Period Weighted Average Interest Rate Outstanding Balance Ending of Collection Period Weighted Average Interest Rate Arrears May 2011 Jun 2011 Jul 2011 Aug 2011 Sep 2011 Oct 2011 Nov 2011 Dec 2011 Jan 2012 Feb 2012 Mar 2012 Apr 2012 May 2012 Jun 2012 Jul 2012 Aug 2012 Sep 2012 Oct , , ,947, , % % 345,634, , % 338,948, , % 336,370, , % 329,856, , % 327,156, , % 320,813, , % 318,009, , % 311,838, , % 308,962, , % 302,961, , % 300,012, , % 294,179, , % 291,134, , % 285,467, , % 282,309, , % 276,808, , % 273,501, , % 268,166, , % 264,712, , % 259,541, , % 255,939, , % 250,935, , % 247,179, , % 242,341, , % 238,442, , % 233,771, , % 229,738, , % 225,235, , % 221,119, , % 216,782, , % 212,623, , % 208,449, , % 204,271, , % 200,256, , % Page 11 / 22

12 Collection Period Outstanding Balance Beginning of Collection Period Weighted Average Interest Rate Outstanding Balance Ending of Collection Period Weighted Average Interest Rate Nov 2012 Dec 2012 Jan 2013 Feb 2013 Mar 2013 Apr 2013 May 2013 Jun 2013 Jul 2013 Aug 2013 Sep 2013 Oct 2013 Nov 2013 Dec 2013 Jan 2014 Feb 2014 Mar 2014 Apr 2014 May 2014 Jun 2014 Jul 2014 Aug 2014 Sep 2014 Oct 2014 Nov 2014 Dec 2014 Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 Dec 2015 Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 Jun 2016 Jul 2016 Aug 2016 Sep 2016 Oct 2016 Nov 2016 Dec 2016 Jan 2017 Feb 2017 Mar 2017 Apr 2017 May 2017 Jun 2017 Jul 2017 Aug 2017 Sep 2017 Oct 2017 Nov 2017 Dec 2017 Jan 2018 Feb 2018 Mar ,084, , % 192,226, , % 188,040, , % 184,336, , % 180,113, , % 176,562, , % 172,292, , % 168,892, , % 164,580, , % 161,329, , % 156,966, , % 153,865, , % 149,451, , % 146,497, , % 142,041, , % 139,232, , % 134,734, , % 132,068, , % 127,558, , % 125,034, , % 120,522, , % 118,138, , % 113,649, , % 111,403, , % 106,936, , % 104,825, , % 100,363, , % 98,385, , % 93,927, , % 92,077, , % 87,586, , % 85,864, , % 81,335, , % 79,740, , % 75,169, , % 73,699, , % 69,079, , % 67,733, , % 63,065, , % 61,841, , % 57,174, , % 56,070, , % 51,507, , % 50,518, , % 46,095, , % 45,218, , % 41,010, , % 40,238, , % 36,267, , % 35,592, , % 31,827, , % 31,243, , % 27,653, , % 27,157, , % 23,756, , % 23,340, , % 20,172, , % 19,832, , % 16,908, , % 16,636, , % 13,984, , % 13,771, , % 11,397, , % 11,238, , % 9,195, , % 9,081, , % 7,405, , % 7,323, , % 6,003, , % 5,946, , % 4,975, , % 4,932, , % 4,254, , % 4,222, , % 3,812, % 3,783, % 3,599, % 3,565, % 3,410, % 3,374, % 3,242, % 3,203, % 3,092, % 3,050, % 2,955, % 2,909, % 2,827, % 2,779, % 2,710, % 2,660, % 2,600, % 2,546, % 2,495, % 2,438, % 2,394, % 2,335, % 2,297, % 2,235, % 2,205, % 2,142, % 2,119, % 2,055, % 2,039, % 1,973, % 1,961, % 1,895, % 1,888, % 1,821, % 1,821, % 1,752, % 1,757, % 1,687, % 1,698, % 1,627, % 1,645, % 1,573, % 1,596, % 1,523, % 1,551, % 1,476, % 1,508, % 1,432, % 1,467, % 1,390, % 1,429, % 1,351, % 1,394, % 1,315, % 1,361, % 1,282, % Page 12 / 22

13 Collection Period Outstanding Balance Beginning of Collection Period Weighted Average Interest Rate Outstanding Balance Ending of Collection Period Weighted Average Interest Rate Apr ,330, % 1,251, % May ,299, % 1,221, % Jun ,269, % 1,191, % Jul ,240, % 1,161, % Aug ,210, % 1,131, % Sep ,180, % 1,102, % Oct ,150, % 1,073, % Nov ,121, % 1,044, % Dec ,092, % 1,016, % Jan ,063, % 987, % Feb ,035, % 959, % Mar ,008, % 932, % Apr , % 905, % May , % 878, % Jun , % 852, % Jul , % 827, % Aug , % 804, % Sep , % 780, % Oct , % 758, % Nov , % 736, % Dec , % 715, % Jan , % 694, % Feb , % 674, % Mar , % 655, % Apr , % 638, % May , % 622, % Jun , % 607, % Jul , % 592, % Aug , % 578, % Sep , % 564, % Oct , % 551, % Nov , % 538, % Dec , % 526, % Jan , % 514, % Feb , % 502, % Mar , % 490, % Apr , % 479, % May , % 467, % Jun % 456, % Increases in principal, number of loans and maximum Runout are due to restructuring of the loans. Page 13 / 22

14 Overview of the Asset Pool Beginning of Collection Period End of Term in Collection Period Fully Prepaid in Collection Period 42, Outstanding Balance 1,026, ,071, ,222, Partially Prepaid in Collection Period , Scheduled Payments in Collection Period 9,157, Total Payments in Collection Period 15,466, Non-Eligible in Collection Period Deficiency Event in Collection Period , Ending of Collection Period 41, ,253, Thereof Delinquent 560 7,107, Distribution by Former Arrears* Arrears in the Past Balance Balance Not at any time 36, % 286,545, % At least once 5, % 52,707, % (*) due to technical reasons, delinquencies are determined as more than 1 (one) day instalments in arrears Distribution by Dunning Level and Deficiency Event* Current Collection Period Balance Delinquent Receivables 560 7,107, Receivables for which a Deficiency Event* has occured (less recoveries) ,328, (*) Debtor Insolvency, liquidation or commencement of insolvency proceedings against the Debtor of such Purchased Receivable; or termination (Kündigung) of the corresponding Consumer Loan Agreement. Deficiency Events* by Contract Type Contract Type Outstanding at Day of Default Total Recoveries Available Outstanding End of Collection Period Postbank-Privatkredit ,631, , ,295, DSL-Privatkredit 100 2,060, , ,033, (*) Debtor Insolvency, liquidation or commencement of insolvency proceedings against the Debtor of such Purchased Receivable; or termination (Kündigung) of the corresponding Consumer Loan Agreement. Page 14 / 22

15 Cumulated Deficiency Events* Collection Period (% of Cut-Off ) Deficiency Amount Deficiency Amount (% of Cut-Off Balance) April % 8, % May % 51, % June % 80, % July % 259, % August % 674, % September % 858, % October % 792, % November % 897, % December % 584, % January % 1,277, % February % 856, % March % 1,070, % April % 965, % May % 767, % June % 789, % July % 726, % August % 555, % September % 576, % October % 487, % November % 618, % December % 492, % January % 689, % February % 395, % March % 777, % April % 555, % May % 382, % June % 501, % % 16,692, % (*) Debtor Insolvency, liquidation or commencement of insolvency proceedings against the Debtor of such Purchased Receivable; or termination (Kündigung) of the corresponding Consumer Loan Agreement. Distribution by Dunning Level at Ending of Collection Period Dunning Level (*) Balance Balance Arrears Interest Arrears None 41, % 332,145, % 11, , Dunning Level % 525, % , Dunning Level % 2,975, % 15, , Dunning Level % 1,470, % 10, , Dunning Level % 393, % 4, , Dunning Level % 1,743, % 33, , , , (*) Dunning Levels according to Postbank's dunning level matrix, i.e. dunning level 2 for 15 days after due date until dunning level 5 which is reached 60 days after the due date. Consumer Loan Receivables which fulfil the termination criteria according to Section 489 of the German Civil Code and which are in dunning level 4 or 5 are terminated by Postbank Page 15 / 22

16 Dunning Levels - History % of Balance of the Pool 1,20% 1,00% 0,80% 0,60% 0,40% 0,20% 0,00% Prepayments by Interest Rate paid by the Borrower Interest Rate paid by the Borrower Collection Period Prepaid Amount in Collection Period Dunning Level 1 Dunning Level 2 Dunning Level 3 Dunning Level 4 Dunning Level 5 Prepaid Amount in Collection Period ]4.5 % - 5 %] % 1,504, % ]5 % %] % 589, % ]5.5 % - 6 %] % 333, % ]6 % %] % 246, % ]6.5 % - 7 %] % 479, % ]7 % %] % 622, % ]7.5 % - 8 %] % 1,426, % ]8 % %] % 1, % ]8.5 % - 9 %] % 65, % ]9 % %] % 12, % % 5,282, % Prepayments by Postbank Internal Rating Postbank Internal Rating (*) Prepaid Amount in Collection Period Prepaid Amount in Collection Period AAA - A % 153, % BBB - B % 5,128, % % 5,282, % Page 16 / 22

17 Historic Prepayments Cumulated Collection Period Prepayments in Collection Period Prepayments in Collection Period (% of Cut-Off Balance) Cummulated Prepayments Cummulated Prepayments (% of Cut-Off Balance) April ,860, % 15,860, % May ,736, % 30,597, % June ,841, % 46,438, % July ,920, % 64,359, % August ,693, % 80,053, % September ,034, % 95,088, % October ,185, % 110,273, % November ,559, % 122,833, % December ,931, % 133,765, % January ,520, % 143,285, % February ,135, % 153,421, % March ,807, % 163,228, % April ,117, % 174,346, % May ,092, % 183,439, % June ,033, % 193,473, % July ,784, % 204,257, % August ,639, % 213,897, % September ,724, % 221,622, % October ,841, % 229,464, % November ,792, % 237,257, % December ,961, % 244,218, % January ,610, % 250,828, % February ,363, % 257,192, % March ,171, % 263,363, % April ,846, % 269,210, % May ,015, % 275,225, % June ,282, % 280,508, % Page 17 / 22

18 Distribution by Contract Type Contract Type Balance Balance Postbank-Privatkredit 37, % 300,585, % DSL-Privatkredit 4, % 38,667, % Distribution by Distribution Channel Distribution Channel Loan Balance Balance Internet 16, % 136,400, % Postbank Branch 14, % 112,169, % Call Center 6, % 51,062, % Others 4, % 39,621, % Distribution by Employment Status Employment Status Balance Balance Employee 24, % 211,977, % Civil Servant / Employee at Public Service 10, % 80,401, % Other 6, % 46,875, % Distribution by Borrowers Borrowers Balance Balance Sole Borrower 27, % 200,792, % Co-Borrowers 14, % 138,461, % Distribution by Domicile of the Borrower Domicile of the Borrower Balance Balance Rent 23, % 189,163, % Ownership 14, % 110,652, % Other 4, % 39,437, % 41, % 339,253, % Page 18 / 22

19 Distribution by Postbank Internal Rating Postbank Internal Rating (*) Balance Balance AAA - A 2, % 17,566, % BBB - B 39, % 321,686, % (*) The loans where the Postbank internal Rating ist not available were originated before the introduction of a scorecard / rating model at. Distribution by Current Balance Current Balance Balance Balance ]0-5,000] 17, % 47,780, % ]5,000-10,000] 12, % 89,330, % ]10,000-15,000] 5, % 72,595, % ]15,000-20,000] 2, % 50,993, % ]20,000-25,000] 1, % 32,792, % ]25,000-30,000] % 22,351, % ]30,000-35,000] % 16,633, % ]35,000-40,000] % 5,705, % ]40,000-45,000] % 884, % ]45,000-50,000] % 185, % Minimum Current Balance Maximum Current Balance 49, Weighted Average Current Balance 8, Page 19 / 22

20 Distribution by Original Balance Original Balance Balance Balance ]0-5,000] 1, % 1,581, % ]5,000-10,000] 13, % 39,165, % ]10,000-15,000] 10, % 56,796, % ]15,000-20,000] 6, % 52,586, % ]20,000-25,000] 4, % 48,075, % ]25,000-30,000] 2, % 37,357, % ]30,000-35,000] 1, % 30,276, % ]35,000-40,000] % 20,716, % ]40,000-45,000] % 17,472, % ]45,000-50,000] % 9,857, % ]50,000-75,000] % 25,367, % Minimum Original Balance 3, Maximum Original Balance 66, Weighted Average Original Balance 15, Distribution by Interest Rate paid by the Borrower Interest Rate paid by the Borrower Balance Balance ]4.5 % - 5 %] 13, % 106,855, % ]5 % %] 4, % 38,714, % ]5.5 % - 6 %] 2, % 22,095, % ]6 % %] 2, % 13,723, % ]6.5 % - 7 %] 3, % 28,565, % ]7 % %] 6, % 41,864, % ]7.5 % - 8 %] 7, % 78,889, % ]8 % %] % 1,271, % ]8.5 % - 9 %] % 5,892, % ]9 % %] % 527, % ]9.5 % - 10 %] % 842, % ]10 % % 12, % Minimum Interest Rate Debtor 4.55% Maximum Interest Rate Debtor 11.38% Weighted Average Interest Rate Debtor 6.21% Page 20 / 22

21 Distribution by Original Term Original Term (Months) Balance Balance ]0-12] % 1,183, % ]12-24] 1, % 9,935, % ]24-36] 3, % 26,586, % ]36-48] 4, % 36,096, % ]48-60] 6, % 57,328, % ]60-72] 6, % 51,290, % ]72-84] 19, % 156,286, % ]84-96] % 542, % ]96-108] % 4, % Minimum Original Term in months 3.00 Maximum Original Term in months Weighted Average Original Term in months Distribution by Remaining Term Remaining Term (Months) Balance Balance [0-12] 4, % 6,296, % ]12-24] 7, % 31,947, % ]24-36] 7, % 48,976, % ]36-48] 14, % 147,198, % ]48-60] 7, % 96,697, % ]60-72] % 4,725, % ]72-84] % 2,489, % ]84-96] % 314, % ]96-108] % 409, % ] ] % 86, % ] % 111, % Minimum Remaining Term in months 0.00 Maximum Remaining Term in months Weighted Average Remaining Term in months Increases in principal, number of loans and maximum Runout are due to restructuring of the loans. Page 21 / 22

22 Distribution by Seasoning Seasoning (months) Balance Balance ]24-36] 20, % 175,862, % ]36-48] 21, % 163,391, % Minimum Maximum Seasoning Term in months Seasoning Term in months Weighted Average Seasoning Term in months Geographic Distribution Region (Federal State) Balance Balance Baden-Wuerttemberg 4, % 43,481, % Bavaria 5, % 51,359, % Berlin 3, % 23,347, % Brandenburg 1, % 10,462, % Bremen % 3,321, % Hamburg 1, % 9,015, % Hesse 3, % 26,054, % Lower Saxony 4, % 32,895, % Mecklenburg-Western Pomerania % 4,604, % North Rhine-Westphalia 9, % 78,758, % Rhineland-Palatinate 1, % 13,655, % Saarland % 2,712, % Saxony 1, % 10,613, % Saxony-Anhalt % 7,066, % Schleswig-Holstein 1, % 14,061, % Thuringia % 6,733, % N/A % 1,109, % Page 22 / 22