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Transaction Update: DekaBank Deutsche Girozentrale (Public-Sector Covered Bonds Program)

Published Mar 08, 2016

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About This Report

Abstract:

Available credit enhancement that well exceeds the target credit enhancement. Very strong jurisdictional support for public sector covered bonds in Germany. Credit exposure focused on highly rated obligors in Germany and assets guaranteed by credit export agencies. The German covered bond law requires coverage of 180 days of liquidity needs at all times. Commingling and bank account risk that is not addressed either structurally or by the German legal framework. Public sector lending business concentration and the largest obligor test determine the credit enhancement level. There is no commitment from the issuer to maintain the level of overcollateralization. Standard&Poor's Ratings Services' outlook on the ratings on the public sector covered bonds (Öffentliche Pfandbriefe) issued by DekaBank Deutsche Girozentrale

Report Type:

Transaction Update Report

Ticker

1030Z@GR

Issuer

DekaBank Deutsche Girozentrale

GICS

Asset Management & Custody Banks (40203010)

Sector

Global Issuers, Structured Finance

Country

Germany

Region

Europe, Middle East, Africa

Format:

PDF

DekaBank Deutsche Girozentrale – 2016/09/01 – US$ 500.00

Summary: DekaBank Deutsche Girozentrale – 2016/09/01 – US$ 225.00

Research Update: German DekaBank Upgraded To 'A+' On Continued Alignment With German Savings Banks; Outlook Stable – 2017/02/09 – US$ 225.00

DekaBank Deutsche Girozentrale's German Public-Sector Covered Bonds Affirmed At 'AAA'; Outlook Stable – 2017/03/10 – US$ 150.00

Transaction Update: DekaBank Deutsche Girozentrale (Public-Sector Covered Bonds Program) – 2017/03/16 – US$ 375.00

Summary: DekaBank Deutsche Girozentrale – 2015/09/09 – US$ 225.00

DekaBank Deutsche Girozentrale – 2015/09/09 – US$ 500.00

German DekaBank Outlook Revised To Positive On Likely Further Integration With German Savings Banks; Affirmed At 'A/A-1' – 2015/08/14 – US$ 150.00

Research Update: German DekaBank Outlook Revised To Positive On Likely Further Integration With German Savings Banks; Affirmed At 'A/A-1' – 2015/08/14 – US$ 225.00

Ratings Affirmed On DekaBank's Public Sector Covered Bonds Following Revised Criteria Application; Outlook Stable – 2015/06/25 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Transaction Update: DekaBank Deutsche Girozentrale (Public-Sector Covered Bonds Program)" Mar 08, 2016. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-DekaBank-Deutsche-Girozentrale-Public-Sector-Covered-Bonds-Program-1592439>

APA:	S&P Global Ratings’ Credit Research. (). Transaction Update: DekaBank Deutsche Girozentrale (Public-Sector Covered Bonds Program) Mar 08, 2016. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-DekaBank-Deutsche-Girozentrale-Public-Sector-Covered-Bonds-Program-1592439>

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