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 11'978 Zürcher Kantonalbank
CHF 6'956 Luzerner Kantonalbank
CHF 6'698 Berner Kantonalbank
CHF 5'830 Banque Cantonale Vaudoise
CHF 5'390 Thurgauer Kantonalbank
CHF 4'349 Banque Cantonale de Fribourg
CHF 4'312 St. Galler Kantonalbank
CHF 3'942 Banque Cantonale de Genève
CHF 3'271 Basler Kantonalbank
CHF 3'251 Basellandschaftliche Kantonalbank
CHF 2'727 Graubündner Kantonalbank
CHF 2'310 Banca dello Stato del Cantone Ticino
CHF 2'215 Banque Cantonale Neuchâteloise
CHF 2'111 Banque Cantonale du Valais
CHF 1'814 Aargauische Kantonalbank
CHF 1'697 Schwyzer Kantonalbank
CHF 1'677 Zuger Kantonalbank
CHF 1'204 Nidwaldner Kantonalbank
CHF 846 Schaffhauser Kantonalbank
CHF 815 Banque Cantonale du Jura
CHF 796 Glarner Kantonalbank
CHF 704 Urner Kantonalbank
CHF 545 Obwaldner Kantonalbank
CHF 486 Appenzeller Kantonalbank
CHF 75'924 Total

Status as of 7 November 2022

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