CAFFIL, Caisse Française de Financement Local, is a covered bond issuer whose portfolio of assets only comprises loans granted to public sector entities. It is fully owned by SFIL, a French state-owned development bank.
Caisse Française de Financement Local (also referred to as CAFFIL) is a French specialized credit institution (société de crédit foncier). Its sole business is the refinancing of credits to public sector entities through the issue of covered bonds, called obligations foncières.
Since it was set up in February 2013, CAFFIL is in charge of financing credits to French local authorities granted by La Banque Postale. Since 2016, CAFFIL also refinances credits for large French export contracts, which benefits from the irrevocable and unconditional 100% guarantee of the French State.
19 June 2018
Very solid demand for the new public issue of CAFFIL, a EUR 500 million 20-year covered bond
14 June 2018
Financial communication – Publication of the quarterly activity report as of March 31, 2018
11 May 2018
Financial communication – Publication of the Report on asset quality as of March 31, 2018
18 April 2018
Successful new CAFFIL 10-year transaction
- Cover Pool EUR 55.8 billion of which 75.6% eligible to ECB
- Obligations foncières EUR 49.2 billion
- Regulatory Over-collateralization ratio 111.8%
- Non-performing loans 1.0%
- Total balance sheet EUR 68.8 billion