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 10'979 Zürcher Kantonalbank
CHF 6'001 Berner Kantonalbank
CHF 5'702 Luzerner Kantonalbank
CHF 5'508 Banque Cantonale Vaudoise
CHF 4'235 Thurgauer Kantonalbank
CHF 4'172 St. Galler Kantonalbank
CHF 3'687 Banque Cantonale de Genève
CHF 3'683 Banque Cantonale de Fribourg
CHF 3'367 Basler Kantonalbank
CHF 2'685 Basellandschaftliche Kantonalbank
CHF 2'240 Graubündner Kantonalbank
CHF 2'182 Banque Cantonale Neuchâteloise
CHF 1'894 Banca dello Stato del Cantone Ticino
CHF 1'761 Banque Cantonale du Valais
CHF 1'514 Aargauische Kantonalbank
CHF 1'457 Schwyzer Kantonalbank
CHF 1'449 Zuger Kantonalbank
CHF 1'056 Nidwaldner Kantonalbank
CHF 779 Banque Cantonale du Jura
CHF 760 Schaffhauser Kantonalbank
CHF 665 Urner Kantonalbank
CHF 653 Glarner Kantonalbank
CHF 497 Obwaldner Kantonalbank
CHF 421 Appenzeller Kantonalbank
CHF 67'347 Total

Status as of 16 April 2021

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