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Germany

NATIONAL ASSOCIATION

Jens Tolckmitt
The Association of German Pfandbrief Banks - vdp
tolckmitt@pfandbrief.de
http://www.pfandbrief.de/cms/_internet.nsf/tindex/en.htm

Sascha Asfandiar
asfandiar@pfandbrief.de


NATIONAL LEGISLATION

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NATIONAL TRANSPARENCY TEMPLATE

BOND LIST

  ISIN Pool
Identifier
Initial Date
of Issuance
Maturity Date Face value1 Coupon Syn. Listed Tapped Mat.2 EEA3 LCR4
N/A HVB Mortgage EUR 7,162,714 Fixed No No No HB Yes N/A
N/A HVB Mortgage EUR 3,707,542,033 Fixed No No No HB Yes N/A
N/A HVB Public EUR 1,910,999,351 Fixed No No No HB Yes N/A
N/A HVB Public EUR 4,029,926 Fixed No No No HB Yes N/A
U0000568 HVB Public 04/03/2005 04/03/2027 EUR 0 Fixed No No No HB Yes N/A
U0000548 HVB Public 16/08/2004 16/08/2029 EUR 0 Fixed No No No HB Yes N/A
XFNB00N48108 NORD/LB - Public Sector 22/08/2012 22/08/2033 EUR 25,000,000 Fixed No No No HB Yes N/A
XFNB00NJK719 NORD/LB - Public Sector 16/08/2012 16/08/2032 EUR 2,000,000 Fixed No No No HB Yes N/A
XFNB00NJC617 NORD/LB - Public Sector 02/07/2012 01/07/2030 EUR 55,000,000 Fixed No No No HB Yes N/A
XFNB00NJC534 NORD/LB - Public Sector 02/07/2012 01/07/2030 EUR 67,500,000 Fixed No No No HB Yes N/A
XFNB00NJC575 NORD/LB - Public Sector 02/07/2012 01/07/2030 EUR 30,000,000 Fixed No No No HB Yes N/A
XFNB00NJ1012 NORD/LB - Public Sector 08/05/2006 08/05/2024 EUR 5,000,000 Fixed No No No HB Yes N/A
XFNB00NJK156 NORD/LB - Public Sector 12/04/2012 12/04/2032 EUR 5,000,000 Fixed No No No HB Yes N/A
XFNB00NJJ661 NORD/LB - Public Sector 27/01/2012 27/07/2026 EUR 10,000,000 Fixed No No No HB Yes N/A
XFNB00NJ6763 NORD/LB - Public Sector 21/08/2008 09/06/2028 EUR 20,000,000 Fixed No No Yes HB Yes N/A
XFNB00NJ4123 NORD/LB - Public Sector 20/06/2007 18/06/2027 EUR 10,000,000 Fixed No No No HB Yes N/A
XFNB00NJ5823 NORD/LB - Public Sector 11/03/2008 11/03/2030 EUR 10,000,000 Fixed No No No HB Yes N/A
XFNB00N48793 NORD/LB - Public Sector 25/10/2005 25/10/2027 EUR 12,500,000 Fixed No No No HB Yes N/A
XFNB00NJ3117 NORD/LB - Public Sector 07/05/2007 07/03/2022 EUR 20,000,000 Fixed No No No HB Yes N/A
XFNB00NJ4032 NORD/LB - Public Sector 14/06/2007 15/06/2037 EUR 5,000,000 Fixed No No No HB Yes N/A
XFNB00NJC567 NORD/LB - Public Sector 01/07/2011 01/07/2030 EUR 30,000,000 Fixed No No No HB Yes N/A
XFNB00NJE027 NORD/LB - Public Sector 12/11/2009 12/11/2024 EUR 20,000,000 Fixed No No No HB Yes N/A
XFNB00NJA207 NORD/LB - Public Sector 19/03/2009 18/03/2022 EUR 10,000,000 Fixed No No No HB Yes N/A
XFNB00NJ5435 NORD/LB - Public Sector 30/01/2008 30/01/2023 EUR 5,000,000 Fixed No No Yes HB Yes N/A
XFNB00NJB288 NORD/LB - Public Sector 08/05/2009 08/05/2029 EUR 10,000,000 Fixed No No No HB Yes N/A
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(1) Please note that the face value of this bond has been converted into EUR values on the 15th of January of the current year (where the exchange rate protocol takes the ECB bilateral exchange rate on the last business day of the previous year) in order to facilitate the comparison across issuances and to increase the overall transparency of the website. Nevertheless, you will be able to check the original currency by directly clicking on the covered bond.

(2) Mat. - Maturity profile

HB - Hard bullet
Hard bullet covered bonds are repaid on the scheduled maturity date. Neither the documentation nor the legal framework contain provisions for a maturity extension. Failure to repay the final redemption amount of a hard bullet covered bond on the scheduled maturity date could trigger the default of the relevant covered bonds and, possibly, the liquidation of the cover pool depending on the respective national insolvency rules.

SB - Soft bullet
Soft bullet covered bonds have a scheduled maturity date and an extended maturity date. If objective, predefined and transparent criteria have been met , the maturity of a soft bullet covered bond can, and in some cases will automatically, be prolonged up to the extended maturity date. During the extension period, the covered bond may be redeemed using cover pool proceeds. Failure to repay a covered bond on the extended maturity date triggers the default of the relevant extended covered bonds (unless multiple extensions are allowed).

CPT - Conditional pass-through
Conditional pass-through (CPT) covered bonds have a scheduled maturity date and an extension mechanism. By itself, the failure to repay the CPT covered bond on the scheduled maturity date does not lead to an acceleration of this covered bond but to an extension of the maturity date of this and potentially other relevant covered bonds. The extension requires that objective, predefined and transparent criteria are met. In such circumstances the maturity of a CPT covered bond can be prolonged to the extended maturity date, which is typically linked to the maximum legal maturity of the underlying assets. During the extension period, cash-flows received or generated from the cover assets will be distributed to the covered bonds investors. Regular attempts are in general made to sell the cover pool assets to redeem the covered bonds . Such sales are subject to predefined criteria intended to protect the interests of all investors under the same programme. In certain jurisdictions and programmes, CPT covered bonds may feature an initial soft bullet extension

(3) European Economic Area (EEA) or non-EEA. While all the non-EEA labelled programmes’ quality standards will be fully aligned to the Covered Bond Label Convention, to Article 129 of the Capital Requirements Regulation (CRR) and to the definitions in the Liquidity Coverage Requirements (LCR) with the exception of being based in the EEA, i.e. they will present similar legislative safeguards from a qualitative and supervisory point of view to those in Europe, these bonds will present different characteristics, for example in terms of risk weights. Therefore, non-EEA Labels will be identified on the Label website by using a different graphic solution.

(4) The issuer believes that, at the time of its issuance and based on transparency data made publicly available by the issuer, this bond would satisfy the eligibility criteria for its classification as a Level 1 or Level 2 asset in accordance with Chapter 2 of the LCR delegated act. It should be noted that whether or not a bond is a liquid asset for the purposes of the Liquidity Coverage Ratio under Regulation (EU) 575/2013 is ultimately a matter to be determined by a relevant investor institution and its relevant supervisory authority and the issuer does not accept any responsibility in this regard.

Sustainable covered bond. A Covered Bond Labelled sustainable covered bond is a covered bond that is fully compliant with the Covered Bond Label Convention, and also includes a formal commitment by the issuer to use an amount equivalent to the proceeds of that same covered bond to (re)finance loans in clearly defined environmental (green), social or a combination of environmental and social (sustainable) criteria. Covered Bond Labelled sustainable covered bond programs are based on their issuer’s sustainable bond framework which has been verified by an independent external assessment. The issuer strives, on a best efforts basis, to replace eligible assets that have matured or are redeemed before the maturity of the bond by other eligible assets.
[Against this background, please note that the EMF-ECBC is currently working on market initiatives which will ultimately define European criteria for energy efficiency covered bonds and sustainability standards]

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