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Financial stability and financial risks

Conversions of 30-year Mortgage-Credit Bonds During the Last 10 Years

The general drop in interest rates since the early 1990s and the growing popularity of adjustable-rate mortgages have led to a significant reduction in the circulating volume of 30-year mortgage-credit bonds. The outstanding volume of 30-year mortgage-credit bonds with a coupon of 6 per cent maturing in 2026 is now reduced to less than 30 per cent of the highest outstanding amount.