{"id":4543,"date":"2022-04-05T17:00:07","date_gmt":"2022-04-05T15:00:07","guid":{"rendered":"https:\/\/affordablehousingactivation.org\/?post_type=tribe_events&p=4543"},"modified":"2022-04-28T17:47:17","modified_gmt":"2022-04-28T15:47:17","slug":"bond-issuing-cooperative-for-limited-profit-housing-switzerland","status":"publish","type":"exemplary_case","link":"https:\/\/affordablehousingactivation.org\/es\/casos-de-exito\/bond-issuing-cooperative-for-limited-profit-housing-switzerland\/","title":{"rendered":"Bond Issuing Cooperative for Limited Profit Housing \u2013 Switzerland"},"content":{"rendered":"

Description<\/strong><\/p>\n

Its purpose is to raise cheap finance for non-profit housing construction. This is done by issuing bonds in the name of the EGW\/CCL and distributing these funds among affordable housing providers.<\/span>\u00a0<\/span><\/p>\n

Actors involved<\/strong><\/p>\n

Emissionszentrale f\u00fcr gemeinn\u00fctziger Wohnbautr\u00e4ger\/ Centrale d’\u00e9mission pour la construction de logements – EGW\/CCL<\/span>\u00a0<\/span><\/p>\n

Scale<\/strong><\/p>\n

National<\/span>\u00a0<\/span><\/p>\n

More information\u00a0<\/strong><\/p>\n

The bonds issued by the EWG\/CCL are generally 6-15-year fixed bonds, covered by mortgages on the title of the financed dwelling and by a government guarantee.\u00a0 Thanks to a careful credit assessment and ongoing monitoring of loan repayments, the default rate is close to zero.\u00a0 These arrangements enable the EWG\/CCL to raise finance at particularly low interest rates, which are only marginally higher than the interest rates on Swiss government bonds.\u00a0 Since it was founded, the EGW\/CCL has carried out 87 debt issuances with a total volume raised of CHF 7.1 billion (EUR 6.4 billion as of April 2020).<\/span>\u00a0<\/span><\/p>\n

EGW\/CCL is organized as a cooperative.\u00a0 Its members are housing cooperatives and other non-profit property developers.\u00a0 There are about 400 individual cooperative members of the EGW\/CCL of which approximately 75 per cent have benefited from its loans.<\/span>\u00a0<\/span><\/p>\n

EGW\/CCL has been successful in reducing the costs of finance for non-profit housing providers and thereby helped to stabilize rents in the sector, which are linked to financing costs.\u00a0 It also enables small affordable-housing providers access to capital markets and offers risk-free assets for investors.\u00a0 Consequently, it enjoys strong political support.[1]<\/span>\u00a0<\/span><\/p>\n

[1] Peter Gurtner, \u201cThe case of Switzerland\u201d, paper presented at the UNECE Workshop on the Future of Social Housing, Geneva, 4-5 February 2014. Available at https:\/\/unece.org\/fileadmin\/DAM\/hlm\/prgm\/hmm\/social%20housing\/2014_geneva\/1.09.gurtner.pdf.<\/span>\u00a0<\/span><\/p>\n

http:\/\/www.egw-ccl.ch\/<\/span>\u00a0<\/span><\/a><\/p>\n

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https:\/\/www.housing2030.org<\/a><\/p>\n

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An initiative of:<\/strong><\/p>\n

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The Bond Issuing Cooperative for Limited Profit Housing (Emissionszentrale f\u00fcr gemeinn\u00fctziger Wohnbautr\u00e4ger\/ Centrale d\u2019\u00e9mission pour la construction de logements \u2013 EGW\/CCL) was jointly established in Switzerland in 1991 by the Government and the non-profit cooperative housing movement.\u00a0<\/p>\n","protected":false},"featured_media":4545,"parent":0,"template":"","meta":{"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"Tribe__Tickets_Plus__Commerce__WooCommerce__Main","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":[],"_tribe_ticket_has_attendee_info_fields":false},"barrera":[114,119],"acf":[],"_links":{"self":[{"href":"https:\/\/affordablehousingactivation.org\/es\/wp-json\/wp\/v2\/exemplary_case\/4543"}],"collection":[{"href":"https:\/\/affordablehousingactivation.org\/es\/wp-json\/wp\/v2\/exemplary_case"}],"about":[{"href":"https:\/\/affordablehousingactivation.org\/es\/wp-json\/wp\/v2\/types\/exemplary_case"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/affordablehousingactivation.org\/es\/wp-json\/wp\/v2\/media\/4545"}],"wp:attachment":[{"href":"https:\/\/affordablehousingactivation.org\/es\/wp-json\/wp\/v2\/media?parent=4543"}],"wp:term":[{"taxonomy":"barrera","embeddable":true,"href":"https:\/\/affordablehousingactivation.org\/es\/wp-json\/wp\/v2\/barrera?post=4543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}