Achmea Bank also uses securitisation as a funding source. In all securitisation transactions, the Bank assigns a portfolio of mortgage receivables to a special purpose vehicle (SPV) which issues Notes. With the proceeds of the notes the SPV can finance the assigned mortgage receivables, and with the received interest on the mortgage receivables the SPV can pay the interest on the notes. The director of these companies is Intertrust Management B.V.
The securitisation vehicles of Achmea Bank are named Dutch Mortgage Portfolio Loans (“DMPL”), Dutch Residential Mortgage Portfolio (“DRMP”), Securitized Guaranteed Mortgage Loans (“SGML”) en Securitized Residential Mortgage Portfolio (“SRMP”). The DMPL and DRMP securitisation transactions have been placed into international capital markets while the SGML and SRMP securitisation transactions are retained transactions whereby all the notes held by Achmea Bank.
The Bloomberg ticker for the bonds issued under the securitisation programmes is DMPL <MTGE> DRMP <MTGE> SGML <MTGE> and SRMP <MTGE>.