NIBC aims to achieve a balanced diversification of funding sources across products, markets and currencies. Our sources of capital markets funding include unsecured (public and private) bonds, covered bonds, commercial paper and mortgage-backed securities. In addition, NIBC raises funding through corporate and institutional deposits as well as retail funding via its NIBC Direct platform.
Our funding programmes provide the flexibility to issue securities of all sizes through a variety of plain vanilla and structured debt products. Funding is raised internationally and in a number of major currencies and in various maturities. NIBC has three main funding programmes:
- Euro Medium Term Note programme: for the issuance of unsecured debt securities
- Euro Commercial Paper programme: for the issuance of short-term commercial paper
- Conditional Pass-Through Covered Bond programme: for the issuance of covered bonds with prime Dutch residential mortgages as collateral
Mortgage-backed securities are another source of funding for NIBC. We have been active in the Dutch mortgage-backed securities market since 1996.