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 11'292 Zürcher Kantonalbank
CHF 7'777 Luzerner Kantonalbank
CHF 7'173 Banque Cantonale Vaudoise
CHF 6'670 Berner Kantonalbank
CHF 6'502 Thurgauer Kantonalbank
CHF 4'668 Banque Cantonale de Fribourg
CHF 4'576 St. Galler Kantonalbank
CHF 4'297 Graubündner Kantonalbank
CHF 4'098 Banque Cantonale de Genève
CHF 3'482 Basellandschaftliche Kantonalbank
CHF 3'332 Basler Kantonalbank
CHF 2'500 Banca dello Stato del Cantone Ticino
CHF 2'349 Banque Cantonale du Valais
CHF 2'191 Banque Cantonale Neuchâteloise
CHF 1'908 Aargauische Kantonalbank
CHF 1'851 Schwyzer Kantonalbank
CHF 1'727 Zuger Kantonalbank
CHF 1'167 Nidwaldner Kantonalbank
CHF 1'122 Schaffhauser Kantonalbank
CHF 1'110 Glarner Kantonalbank
CHF 876 Banque Cantonale du Jura
CHF 728 Urner Kantonalbank
CHF 584 Obwaldner Kantonalbank
CHF 521 Appenzeller Kantonalbank
CHF 82'501 Total

Status as of 03 September 2024

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