Purchases of covered bonds

To mitigate the effects of the coronavirus pandemic on the Swedish economy, the Riksbank increased its purchases of securities from March 2020 until 31 December 2021 with a total envelope of SEK 700 billion, in addition to the purchases planned prior to the pandemic. The purpose of the purchases was to keep general interest rates low and facilitate credit supply. The Riksbank intends to decrease its purchases of securities with three quarters during the second half of 2022 compared to the first six months. The Riksbank’s assessment is that its holdings of securities should decrease during 2022. The current purchases include covered bonds (mortgage bonds) among others.

The Riksbank’s purchases concern covered bonds (mortgage bonds) issued in Swedish kronor by Swedish credit institutions with maturities of more than one year.

Like the purchases of government bonds, the purchases of covered bonds will be made on the secondary market. Allowed participants in these auctions are the Riksbank’s monetary policy counterparties. More detailed information can be found in the documents under “Related content” below.  

The first purchase of covered bonds was made on 25 March 2020.

Holdings of covered bonds

Here we present the Riksbank’s total holdings of covered bonds. The holdings are the net total of covered bonds purchased, which is to say the total sum of bonds purchased, minus bonds that have fallen due at that point in time. The holdings are reported in nominal terms and are based on the transaction date for the Riksbank's purchase of the bonds.

Holdings of covered bonds

Figure: Holdings of covered bonds

The diagram shows the Riksbank’s total holdings of covered bonds within the scope of the Riksbank’s programme for asset purchases. The figures are stated in SEK billions. Source: Sveriges Riksbank.

Change in holdings of covered bonds
  SEK billions
Holdings per 31 October 2022 384.7
New purchases in November 2022 1.2
Maturing volume in November 2022 0
Holdings per 30 November 2022 385.9

 

Purchases of covered bonds

Here, we present the Riksbank’s total purchases of covered bonds. By 31 December 2021, the Riksbank had purchased corporate bonds for SEK 435 billion. During the second half of 2022, the Riksbank intends to continue to purchase covered bonds issued in Swedish kronor by Swedish credit institutions for a nominal amount of SEK 6 billion.

Purchases of covered bonds

Figure: Purchases of covered bonds

The diagram shows the Riksbank's total purchases of covered bonds at each respective point in time since the measure was initiated in March 2020. The figures are stated in SEK billions. Source: Sveriges Riksbank.

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Updated 05/12/2022