Financial and Mortgage Portfolio Overview
Cover Pool - main features
Cover pool made of entirely residential mortgage loans
Composition of the cover pool
The cover pool currently consists of mortgage loans secured against residential
properties located in Iceland - going forward, the intention is for this composition
to be maintained
All the properties included in the cover pool are owner-occupied
Cover pool has expanded over years
ISKM
400,000
350,000
Pursuant to the Icelandic Covered Bond Act, residential mortgage loans form
part of the cover pool only up to a maximum LTV of 80%
The Icelandic Covered Bond Act defines that the market value of the properties
to be used for calculating the LTVs needs to be based on the selling price of
comparable properties in recent transactions or, where such market value is not
available, on a specific valuation carried out in accordance with generally
accepted principles
The Icelandic Covered Bond Act provides that no mortgage loan may be
registered in the cover pool if they have been in arrears for 90 days or more
300,000
250,000
The cover pool includes a mix of inflation-linked and non inflation-linked
mortgage loans
150,000
Loans granted to employees of Íslandsbanki are also included
200,000
100,000
50,000
0
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
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Dec-19
Jun-20
Dec-20
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Mar-22
June-22
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August-September 2022View entire presentation