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FIGCovered Bonds

S&P says Swedish mortgage plan is positive

Standard & Poor’s has followed Moody’s in saying that a Swedish proposal to cap new interest only loans at 50% of a property’s value, rather than the 75% maximum in force today, is credit positive. This is because it will lead to a lower mismatch between an issuer’s assets and liabilities, the main source of rating volatility for Swedish issuers.

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