Loan book

The proceeds from the bonds taken up by the market are passed on to the 24 Swiss cantonal banks in the form of loans. The cantonal banks not only hold the Pfandbriefzentrale's entire share capital but are also the sole borrowers. 21 cantonal banks also have an unlimited state guarantee from their canton for their commitments. All the cantonal banks have a good or very good credit rating.

The composition of the mortgage-covered loan book is as follows (amounts in CHF million):

CHF 11'179 Zürcher Kantonalbank
CHF 6'234 Berner Kantonalbank
CHF 5'823 Luzerner Kantonalbank
CHF 5'524 Banque Cantonale Vaudoise
CHF 4'370 Thurgauer Kantonalbank
CHF 4'122 St. Galler Kantonalbank
CHF 3'753 Banque Cantonale de Fribourg
CHF 3'691 Banque Cantonale de Genève
CHF 3'367 Basler Kantonalbank
CHF 2'775 Basellandschaftliche Kantonalbank
CHF 2'182 Banque Cantonale Neuchâteloise
CHF 2'170 Graubündner Kantonalbank
CHF 1'934 Banca dello Stato del Cantone Ticino
CHF 1'794 Banque Cantonale du Valais
CHF 1'645 Aargauische Kantonalbank
CHF 1'503 Schwyzer Kantonalbank
CHF 1'471 Zuger Kantonalbank
CHF 1'050 Nidwaldner Kantonalbank
CHF 804 Banque Cantonale du Jura
CHF 763 Schaffhauser Kantonalbank
CHF 663 Glarner Kantonalbank
CHF 660 Urner Kantonalbank
CHF 502 Obwaldner Kantonalbank
CHF 425 Appenzeller Kantonalbank
CHF 68'404 Total

Status as of 10 June 2021

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