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 11'999 Zürcher Kantonalbank
CHF 7'390 Luzerner Kantonalbank
CHF 6'980 Berner Kantonalbank
CHF 6'243 Banque Cantonale Vaudoise
CHF 5'805 Thurgauer Kantonalbank
CHF 4'460 Banque Cantonale de Fribourg
CHF 4'306 St. Galler Kantonalbank
CHF 4'027 Banque Cantonale de Genève
CHF 3'352 Graubündner Kantonalbank
CHF 3'319 Basler Kantonalbank
CHF 3'218 Basellandschaftliche Kantonalbank
CHF 2'325 Banca dello Stato del Cantone Ticino
CHF 2'192 Banque Cantonale Neuchâteloise
CHF 2'166 Banque Cantonale du Valais
CHF 1'893 Aargauische Kantonalbank
CHF 1'796 Schwyzer Kantonalbank
CHF 1'747 Zuger Kantonalbank
CHF 1'234 Nidwaldner Kantonalbank
CHF 965 Schaffhauser Kantonalbank
CHF 847 Glarner Kantonalbank
CHF 825 Banque Cantonale du Jura
CHF 698 Urner Kantonalbank
CHF 557 Obwaldner Kantonalbank
CHF 498 Appenzeller Kantonalbank
CHF 78'842 Total

Status as of 30 May 2023

Top