Cover Practice for Countries and Banks

Countries
The cover practice for countries shows the country classification as well as SERV's cover practice. Errors and omissions excepted. The committee's decision when reviewing the relevant application is binding.

Banks
The cover practice for banks contains all the banks within a country that in principle qualify for credit risk cover. It is updated regularly.

Banks that are not listed by name, but have a current rating that meets SERV's criteria, are also in principle acceptable.

Payment guarantees of a Ministry of Finance or a Central Bank are usually accepted (subject to cover practice).

The committee's decision when checking the relevant application is binding. No liability is accepted for any errors. It is therefore advisable to seek clarification from SERV in individual cases.

Please use the search function for quick access to a specific country or bank.

CRC : Country Risk Category
0 : smallest risk*, 7 : highest risk
HI = High-income OECD and eurozone countries*
*premiums partly as per market prices

CC : Consensus Category (according to gross national product per capita):
Max. credit period for CC1: 5 years (or 8.5 wi th prior notification)
Max. credit period for CC2: 10 years

Cover Policy:
ST : Short Term: Tenor of credit below 2 years
M/L = Medium/Long Term: Tenor of credit 2 years or more

Letter Rating: S&P rating scale
AAA : prime, AA+ ... CC, C, D : in default

SOV : central banks (sovereign, public)
SOV+ : better than sovereign, 10% reduction on premium for SOV
CC : Commercial category
CC0 : same as public, no del credere surcharge, CC5: highest del credere surcharge