The over-collateralization (nominal) ratio as of September 30, 2018 : 112.0 %
Caisse Française de Financement Local is obliged to maintain a minimum regulatory over-collateralization ratio of 105 %.
The rating agencies may require a higher level of over-collateralization. This requirement depends on the methodology applied and on the new assets and liabilities on Caisse Française de Financement Local’s balance sheet, and it may vary over time. Caisse Française de Financement Local takes these particular requirements into account in the management of its activities, in order to make sure they are always respected.
The over-collateralization ratio, which is calculated on the basis of regulatory standards governing sociétés de crédit foncier, is the ratio between the assets and the resources benefiting from the legal privilege.