Harmonised Transparency Template

Finance Norway and The Norwegian Covered Bond Council recommends that all Norwegian issuers make use of the Harmonised Transparency Template (HTT)

The international covered bond market consists of issuers with different structures and characteristics. Use of the HTT will increase transparency and comparability and is thus recommended for all Norwegian issuers. The HTT will replace the Norwegian Transparency Template released in 2012.

Harmonised Transparency Template for Norwegian issuers

In conjunction with the introduction of the HTT, a working group was established to assess the HTT in light of the original Norwegian Transparency Template and Norwegian specificities. The result was minor amendments to the HTT including common definitions in the harmonised glossary.

The HTT is only mandatory for issuers with a “label” from The Covered Bond Label Foundation. Norwegian issuers with such label are DNB Boligkreditt, Eika Boligkreditt, Nordea Eiendomskreditt, Sparebank1 Boligkreditt, SR-Boligkreditt, Møre Boligkreditt, Sparebanken Sør Boligkreditt and Sparebanken Vest Boligkreditt. However, Finance Norway and The Norwegian Covered Bond Council recommends all Norwegian issuers to use the HTT.

As of 1 August 2017, Worksheet D: Optional ECB-ECAIs data has been added to the HTT. The added worksheet will provide data to rating agencies in order to comply with the new minimum disclosure requirements for covered bond ratings imposed by the European Central Bank. Note that the addendum is optional.