UniCredit Bank AG
Germany EEA Member
Pool Program details
|Shortcut: legal framework||Pfandbriefe|
|Harmonised transparency template||http://www.hvb.de|
|Description||Assets which are eligible as cover for Mortgage Pfandbriefe are loans secured by real estate situated in the member states of the European Union, in Contracting States to the Agreement on the European Economic Area (EEA), in Switzerland, in the United Kingdom of Great Britain and Northern Ireland, the USA, Canada and Japan, Australia, New Zealand or Singapore. The total volume of the loans in states not belonging to the European Union, for which it is not ensured that the preferential right of the Pfandbrief creditors, may not exceed ten percent of the total volume of the loans in the case of which the preferential right is ensured.
However, loans may serve as cover only up to 60% of the mortgage lending value.
In addition to real estate loans, a maximum of 20% of the aggregate volume of Mortgage Pfandbriefe outstanding may take the form of other cover assets. These may be claims under bonds of or guaranteed by central governments and sub-sovereign public-sector bodies (see also “Public Pfandbriefe”) or money claims against suitable credit institutions. The latter may be included up to 10% of the aggregate volume of Mortgage Pfandbriefe outstanding.
And finally, claims under derivative transactions concluded with suitable credit institutions may also be included in the cover pool up to a maximum of 12 % based on their net present value.
Provisions governing the eligibility of claims as cover for Mortgage Pfandbriefe in particular are set forth in §§ 12 – 19 Pfandbrief Act.
|Face value (EUR)||1,000,000,000|
|Initial Issuance Date||13/01/2023|
|EU Label||European Covered Bond (Premium)|
|Description||Jumbo Mortgage Pfandbrief|