To support the development of its French public sector lending activity, Crédit Mutuel Arkéa has set up a public sector covered bond (Obligations Foncières) programme. This programme bears the "covered bond" label of the European Covered Bond Council (ECBC). The cover assets ("cover pool") consist entirely of exposures on the French public sector in the form of public loans granted by Crédit Mutuel Arkéa.
The issuer, Arkéa Public Sector SCF, is a specialised credit institution authorised in France by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the French banking and insurance supervisory body. It has direct access to the liquidity of the European Central Bank (ECB). Arkéa Public Sector SCF is authorised to issue Obligations Foncières, which are covered bonds that comply with the UCITS (Undertakings for Collective Investments in Transferable Securities) and CRD (Capital Requirements Directive) directives on regulatory capital (10% weighting).
Arkéa Public Sector SCF, a subsidiary of Crédit Mutuel Arkéa, has obtained the authorisation to use the “Superior Quality European Covered Bond” label for all its future issues, in accordance with article L.513-26-1 II of the Monetary and financial Code . This authorisation has been issued by the ACPR for issues made under its covered bond programme both for guaranteed obligations under French law than for those under German law. Like new issues, all bonds issued before July 8, 2022 will continue to benefit from preferential prudential treatment.
Obtaining this label confirms the quality and commitment of Arkéa Public Sector SCF to its investors.
Public issues completed from this programme:
| ISIN CODE | MATURITY | SENIORITY | COUPON | ISSUE AMOUNT (€M) |
| FR0014009GQ8 | 31/03/2028 | Covered Bond | 0,875% | 500 |
| FR0013460417 | 15/01/2030 | Covered Bond | 0,125% | 500 |
| FR001400EZL5 | 10/01/2031 | Covered Bond | 3,250% | 500 |
| FR001400O9E0 | 28/02/2029 | Covered Bond | 3.111% | 750 |
