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NN Bank announced today that it has established a EUR 5 billion Conditional Pass-Through Covered Bond Programme. This programme has received regulatory approval from De Nederlandsche Bank (DNB). The prospectus for the Covered Bond Programme dated 20 September 2017 has been approved by the Netherlands Authority for the Financial Markets (AFM) and is available online: https://www.nn-group.com/Investors.
Covered bonds issued under the programme are backed by Dutch prime residential mortgage loans and are expected to be rated AAA by Standard & Poor’s Rating Services.
The NN Bank Covered Bond Programme increases the bank’s flexibility to address its ongoing funding needs by further diversifying its sources of funding, which currently include RMBS secured wholesale funding and retail deposits.