The cover pool of NORD/LB Luxembourg Covered Bond Bank fulfills high quality standards. Find out more regarding the rating and country split in the cover pool Lettres de Gage publiques as well as the transparency regulations according to Luxembourg law below.
NORD/LB CBB's cover pool according to CSSF Circular 18/706 Transparency Requirements will be published quarterly.
The rating selection is based on the worst external bond rating (either Moody's or S&P). If no external bond rating exists, the worst external issuer rating will be used (either Moody's or S&P). In the absence of an external bond or external issuer rating (by either Moody's or S&P) the issuer’s/borrower’s internal rating will be selected using an approved rating tool. If neither an external nor an internal rating exists, the exposure will be rated by applying an internal rating bypass methodology to determine the credit quality of the relevant transaction. However, these credit worthiness ratings do not comply with the Basel III rules.
To maintain a sustainable and transparent investment in Luxembourg covered bonds "Lettres de Gage"