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FCT Credit Agricole Habitat 2017: 28 February 2017

The purpose of the Issuer is to issue debt securities and units and to purchase from 39 Caisses Régionales de Crédit Agricole Mutuel (Regional Banks) on the Issue Date a portfolio solely comprising home loans originated by the Regional Banks and entered into with borrowers who are both individuals and French resident.

The Sellers and the Servicers are composed of the 39 Regional Banks, co-operative entities and fully-fledged banks that have a leading position in all areas of the retail banking markets in France. The Sellers and the Servicers are licensed as a mutual bank in France by the ACPR.

As at the cut off date (30 November 2016) the portfolio consisted of 14,539 owner-occupier loans, where the average current outstanding loan is Eur103,377, with the largest being Eur467,943. Interest Rate Type (by current balances): fixed for life 90.91%, fixed-to-floating 5.45%, floating 3.64%. Repayment type: annuity 90.91%, fixed instalments with structural protection 9.09%. The WA current LTV is 74.59%, the indexed LTV is 77.55% and the WA seasoning is 48 mnths. Regional concentration: Ile de France 15.93%, Rhône Alpes 11.42% and Provence Alpes Cote d'Azur 9.31%.

CRR 405: The Sellers as originators of the Purchased Home Loans undertake that, during the life of the Class A Notes, it will comply with (i) Article 405 of the Regulation EU 575/2013 of the European Parliament and of the Council of 26 June 2013, (ii) Article 51 of the Commission Delegated Regulation (EU) 231/2013 of 19 December 2012 and (iii) Article 254 of the Commission Delegation Regulation (EU) 2015/35 of 10 October 2014, and therefore retain on a consolidated basis a material net economic interest in the transaction which, in any event, may not be less than 5%. As at the Issue Date, such material net economic interest will be retained by each Seller, through the retention of the Class B Notes and the Residual Units.

Compare/contrast: FCT Credit Agricole Habitat 2015, Sapphireone Mortgages FCT 2016-3