Covered bonds

Covered bonds are debt secured on a ring-fenced pool of mortgages or public-sector loans that stays with the bondholder if the issuer fails. They are the one class of bank debt excluded from bail-in, to the extent of their collateral.

Covered bonds sit outside the bail-in perimeter. They do not count towards MREL, and they are listed here precisely because knowing which instruments cannot absorb losses is as material as knowing which can. Full definition in the glossary.

Notional is summed over EUR-denominated lines that report an amount. FIRDS carries no exchange rates, so amounts in other currencies are counted but never converted.

Most recently issued

Source: ESMA FIRDS·Updated 2026-07-25

First trade	ISIN	Instrument	Issuer	Seniority	Ccy	Coupon	Maturity
2026-07-28	DE000BYL0KU1	BAY.LDSBK. MTH VAR 26/32	BayernLB	COV	EUR	Not disclosed	2032-06-30
2026-07-24	ES0413679632	CH BANKINTER, S.A. III VBLE 07/2033	BABankinter	COV	EUR	Not disclosed	2033-07-25
2026-07-23	DE000A382616	DeutPfandbrbk 4% 27 01 2028	Deutsche Pfandbriefbank	COV	EUR	4%	2028-01-27
2026-07-23	DE000A382665	DeutPfandbrbk 3 25% 01 09 2028 750000000	Deutsche Pfandbriefbank	COV	EUR	3.25%	2028-09-01
2026-07-23	DE000BLB35M9	BLB ÖPF 26	BayernLB	COV	EUR	0.25%	2026-08-05
2026-07-23	DE000BLB6J10	BayerLB 2.875% 15 07 2030	BayernLB	COV	EUR	2.875%	2030-07-15
2026-07-23	DE000CZ457V6	Commerzbank 2.625% 15 01 2031	Commerzbank	COV	EUR	2.625%	2031-01-15
2026-07-22	DE000BYL0E21	BLB HYPF 31	BayernLB	COV	EUR	2.625%	2031-10-07
2026-07-21	XS3402787637	DeutscheBank 100 20 07 2031	Deutsche Bank	COV	USD	0%	2031-07-20
2026-07-20	DK0030394986	Nykredit Realkredit A/S3.8752029-07-09EUR	Nykredit	COV	EUR	3.875%	2029-07-09
2026-07-20	IT0005706244	MONTE 3.059 04/29/29 BOND	Banca MPS	COV	EUR	0.765%	2029-04-29
2026-07-16	DE000LB4XGY4	LBBW HYPF 28	LBLBBW	COV	EUR	2.845%	2028-07-17
2026-07-16	XS3324769804	DBKG 4.55 16/07/31	Deutsche Bank	COV	USD	4.55%	2031-07-16
2026-07-15	BE6375295670	BelfiusBank FRN 15 07 2033	BEBelfius	COV	EUR	Not disclosed	2033-07-15
2026-07-15	XS3402788288	DeutscheBank 5 58% 15 07 2036	Deutsche Bank	COV	USD	5.58%	2036-07-15
2026-07-13	DE000A3827A0	Deutsche Pfandbriefbank AG MTN-HPF Reihe 15350 v.26(30)	Deutsche Pfandbriefbank	COV	EUR	3.125%	2030-06-07
2026-07-13	DE000BYL0J59	Bayerische Landesbank OPF-MTN v.26(29)	BayernLB	COV	EUR	2.75%	2029-06-22
2026-07-13	XS3441671925	Eurobank 2 955% 12 01 2028	EUEurobank	COV	EUR	2.955%	2028-01-12
2026-07-13	XS3441679316	Eurobank 4 28727% 12 01 2028	EUEurobank	COV	USD	4.287%	2028-01-12
2026-07-09	BE0390360320	CCBGBB 3 1/2 06/19/37	BEBelfius	COV	EUR	3.5%	2037-06-19
2026-07-09	DE000CZ46C01	Commerzbank AG MTN-OPF v.26(30) P.93	Commerzbank	COV	EUR	2.5%	2030-10-10
2026-07-02	BE0390365378	BELFIUS FX 3.6% JUL46 EUR	BEBelfius	COV	EUR	3.6%	2046-07-02
2026-07-02	XS3324769390	DBKG 4.15 02/07/29	Deutsche Bank	COV	USD	4.15%	2029-07-02
2026-07-01	XS3362229075	DeutscheBank 5 41% 01 07 2036	Deutsche Bank	COV	USD	5.41%	2036-07-01
2026-06-30	BE0390364363	BELFIUS FX 3.57% JUN43 EUR	BEBelfius	COV	EUR	3.57%	2043-06-30

DE000BYL0KU1BAY.LDSBK. MTH VAR 26/32▾

ES0413679632CH BANKINTER, S.A. III VBLE 07/2033▾

DE000A382616DeutPfandbrbk 4% 27 01 2028▾

DE000A382665DeutPfandbrbk 3 25% 01 09 2028 750000000▾

DE000BLB35M9BLB ÖPF 26▾

DE000BLB6J10BayerLB 2.875% 15 07 2030▾

DE000CZ457V6Commerzbank 2.625% 15 01 2031▾

DE000BYL0E21BLB HYPF 31▾

XS3402787637DeutscheBank 100 20 07 2031▾

DK0030394986Nykredit Realkredit A/S3.8752029-07-09EUR▾

IT0005706244MONTE 3.059 04/29/29 BOND▾

DE000LB4XGY4LBBW HYPF 28▾

XS3324769804DBKG 4.55 16/07/31▾

BE6375295670BelfiusBank FRN 15 07 2033▾

XS3402788288DeutscheBank 5 58% 15 07 2036▾

DE000A3827A0Deutsche Pfandbriefbank AG MTN-HPF Reihe 15350 v.26(30)▾

DE000BYL0J59Bayerische Landesbank OPF-MTN v.26(29)▾

XS3441671925Eurobank 2 955% 12 01 2028▾

XS3441679316Eurobank 4 28727% 12 01 2028▾

BE0390360320CCBGBB 3 1/2 06/19/37▾

DE000CZ46C01Commerzbank AG MTN-OPF v.26(30) P.93▾

BE0390365378BELFIUS FX 3.6% JUL46 EUR▾

XS3324769390DBKG 4.15 02/07/29▾

XS3362229075DeutscheBank 5 41% 01 07 2036▾

BE0390364363BELFIUS FX 3.57% JUN43 EUR▾

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