Westpac New Zealand Economic and Sustainability Strategy Update
Covered bond pool overview
Covered Bond Pool eligibility criteria
First ranking mortgage registered under the New Zealand Real Property Legislation
All loans are secured by a mortgage over land and a completed residential dwelling
All residential loans are denominated and payable in New Zealand dollars
Loans are originated by WNZL in the ordinary course of its business, subject to
standard loan offer terms and conditions
Outstanding Principal Balance owed by the borrower is not more than NZD1.5 million
Borrower is a New Zealand resident
Loans become amortising loans after any "interest only" period
Loans are not governed or regulated by any rural, primary production, moratorium or
mediation legislation other than Credit Contracts Act 1981 (NZ) or the Credit Contracts
and Consumer Finance Act 2003 (NZ) (or any replacement thereof)
Loans required to be repaid within 30 years of sale into the cover pool
Loans are not delinquent more than 30 days or in default
Total Pool Loan Balance1
Cover Pool Loan Statistics as at 30 April 2021
NZ$6,432,206,768
40,892
NZ$157,297
Number of Loans
Average Loan Size
Max Loan Size
Weighted Average Current LVR (Unindexed)
Weighted Average Current LVR (Indexed)
90 day + Arrears
Weighted Average Seasoning
NZ$1,500,000
50.26%
44.64%
0.00%
51 months
269 months
Weighted Average Remaining Term to Maturity
360 months
Max Remaining Term to Maturity
Weighted Average Interest Rate
Fixed/Floating Split
Interest Only
3.25%
89%/11%
10%
1 Pool loan balance excludes cash balances.
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