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 11'446 Zürcher Kantonalbank
CHF 7'769 Luzerner Kantonalbank
CHF 6'871 Banque Cantonale Vaudoise
CHF 6'716 Berner Kantonalbank
CHF 6'265 Thurgauer Kantonalbank
CHF 4'609 Banque Cantonale de Fribourg
CHF 4'352 St. Galler Kantonalbank
CHF 4'173 Graubündner Kantonalbank
CHF 3'979 Banque Cantonale de Genève
CHF 3'374 Basellandschaftliche Kantonalbank
CHF 3'337 Basler Kantonalbank
CHF 2'435 Banca dello Stato del Cantone Ticino
CHF 2'331 Banque Cantonale du Valais
CHF 2'211 Banque Cantonale Neuchâteloise
CHF 1'843 Aargauische Kantonalbank
CHF 1'815 Schwyzer Kantonalbank
CHF 1'691 Zuger Kantonalbank
CHF 1'155 Nidwaldner Kantonalbank
CHF 1'101 Glarner Kantonalbank
CHF 1'084 Schaffhauser Kantonalbank
CHF 877 Banque Cantonale du Jura
CHF 722 Urner Kantonalbank
CHF 584 Obwaldner Kantonalbank
CHF 521 Appenzeller Kantonalbank
CHF 81'261 Total

Status as of 14 June 2024

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