Mortgage Pool Data Archive
| Table 1 – Summary |
Sep-15 |
Dec-15 |
Mar-16 |
|---|
| Total Property Valuation |
€21.981bn |
€22.294bn |
€22.125bn |
| Total number of Accounts |
92,899 |
91,678 |
90,202 |
| Total number of Properties |
80,223 |
79,190 |
78,064 |
| Aggregate balances of the mortgages |
€11.468bn |
€11.203bn |
€10.947bn |
| Average mortgage balance |
€123,448 |
€122, 204 |
€121,359 |
| Weighted Average Current LTV(1) |
57.91% |
57.46% |
57.14% |
| Weighted Average Indexed LTV(2) |
76.37% |
73.65% |
72.68% |
| Aggregate Indexed LTV (3) |
52.17% |
50.25% |
49.48% |
| Weighted Average Seasoning |
104.74 months |
107.52 months |
109.47 months |
| Weighted Average Remaining Term |
18.86 years |
18.70 years |
18.65 years |
| Are construction loans part of eligible assets? |
No |
No |
No |
| Are commercial mortgages permitted in the cover pool? |
Yes |
Yes |
Yes |
| Maximum commercial mortgages % permitted in the cover pool |
10.00% |
10.00% |
10.00% |
| Commercial mortgages % in the Cover Pool |
0.00% |
0.00% |
0.00% |
| Are ABS allowed in the Cover Pool? |
Yes |
Yes |
Yes |
| Maximum % ABS allowed in the Cover Pool |
10.00% |
10.00% |
10.00% |
| RMBS % in the Cover Pool |
0.00% |
0.00% |
0.00% |
| CMBS % in the Cover Pool |
0.00% |
0.00% |
0.00% |
| % of first lien mortgages in the cover pool |
100.00% |
100.00% |
100.00% |
| % of self certified loans in the cover pool |
0.00% |
0.00% |
0.00% |
| Table 2 – Pool Balance Breakdown |
Sep-15 |
Dec-15 |
Mar-16 |
|---|
| Dublin |
32.45% |
32.45% |
32.65% |
| Non Dublin |
67.55% |
67.55% |
67.35% |
| Balance <=100k |
17.44% |
17.69% |
17.89% |
| Balance >100k <=200k |
37.13% |
37.43% |
37.77% |
| Balance >200k <=500k |
38.41% |
38.02% |
37.61% |
| Balance > 500k |
7.02% |
6.86% |
6.74% |
| Table 3 – Pool Arrears Analysis |
Sep-15 |
Dec-15 |
Mar-16 |
|---|
| No. of Accounts in Arrears(4) |
2 |
10 |
20 |
| Percentage of Accounts in Arrears |
0.00% |
0.01% |
0.02% |
| Mortgage Value of Accounts in Arrears |
€0.279m |
€2.070m |
€2.435m |
| Percentage of Total Mortgage Value of Pool |
0.00% |
0.02% |
0.02% |
| Amount in Arrears |
€0.005m |
€0.052m |
€0.298m |
| Table 4 – Bond Summary |
Sep-15 |
Dec-15 |
Mar-16 |
|---|
| No of Bonds |
46 |
49 |
49 |
| Value of Bonds |
€8.696bn |
€7.351bn |
€6.735bn |
| Duration |
2.88 |
4.14 |
4.42 |
| Do the covered bonds contain a soft or hard bullet structure? |
Both are possible subject to the final terms of the bond |
Both are possible subject to the final terms of the bond |
Both are possible subject to the final terms of the bond |
| Is there a legal possibility to redeem the covered bond before its legal and final maturity? (5) |
No |
No |
No |
| Bond Data Table |
See Bond Data Table |
See Bond Data Table |
See Bond Data Table |
| Table 5 – Cover Pool Summary |
Sep-15 |
Dec-15 |
Mar-16 |
|---|
| Nominal Overcollateralisation % (6) |
47% |
68% |
78% |
| Prudent Market Value of Mortgages (7) |
€10.148bn |
€10.069bn |
€9.895bn |
| Prudent Market Value of Cover Pool (8) |
€11.464bn |
€11.237bn |
€10.913bn |
| Legislative Overcollateralisation % (9) |
32% |
52% |
62% |
| Minimum Legislative overcollateralisation requirement |
3% |
3% |
3% |
| Minimum Contractual overcollateralisation requirement |
5% |
5% |
5% |
| Committed to rating agencies/others |
5% |
5% |
5% |
| Substitution Assets (10) |
€1.316bn |
€1.168bn |
€1.018bn |
| Qualified Substitution Assets (11) |
€1.304bn |
€1.103bn |
€1.010bn |
| Duration of the mortgage assets (12) |
10.80 years |
10.66 years |
10.59 years |
| Are derivatives included in the cover pool? |
Yes |
Yes |
Yes |
| Describe the effect of a 15% drop in house prices to the current OC |
The issuer is obliged to maintain the minimum legislative and contractual OC level. |
The issuer is obliged to maintain the minimum legislative and contractual OC level. |
The issuer is obliged to maintain the minimum legislative and contractual OC level. |
| Are the Bonds eligible under Article 129(7) of the CRR? (13) |
Yes |
Yes |
Yes |
1 The Weighted Average Current LTV (Loan to Value) is an average of the individual current LTV calculations weighted by the current balance of each property. The current LTV of a property is the current balance of a mortgage divided by the historical property valuation.
2 The Weighted Average Indexed LTV (Loan to Value) is an average of the individual indexed LTV calculations weighted by the current balance of each property. The indexed LTV of a property is the current balance of a mortgage divided by the historical property valuation indexed up to date with a 15% discount applied to any uplift in valuation. 100% of any valuation decrease is applied.
3 The Aggregate Indexed LTV is the aggregate of loan balances divided by the aggregate of the indexed property valuations.
4Accounts in Arrears are defined as payment due>=3months.
5 This is subject to Final Terms.
6 (Mortgage account balance plus Substitution Assets minus the Bonds in Issue.) divided by the Bonds in Issue
7 The Prudent Market Value of a Mortgage is the nominal value of the mortgage capped at 75% of the indexed property valuation.
8 Prudent Market Value of Mortgages plus Substitution Assets.
9 (Prudent Market Value of Mortgages plus Substitution Assets (capped at 15% of bonds in issue) minus Bonds in Issue) divided by the Bonds in Issue.
10 Cash placed with a suitably rated counterparty is the only substitution asset currently allowable.
11 Capped at 15% of bonds in issue.
12 The duration of the mortgage assets in the cover pool.
13 The Issuer is satisfied that it includes the disclosures required under Article 129(7) in the quarterly National Transparency Template reports.