Notice with regard to the margining obligation for uncleared OTC derivatives.

Based on EMIR (European Market Infrastructure Regulation) certain counterparties are obliged to exchange margins for all non-cleared OTC derivatives. Furthermore, EMIR allows the exemption of intragroup trades from the requirement to exchange margin. If such an exemption is applied for and afterwards granted by the local supervisory bodies, according to article 11, paragraph 14 EMIR as well as article 20 of the commissions delegated regulation (EU 149/2013) details on the exempted transactions must be published by the counterparty.

NORD / LB AöR and NORD / LB Luxembourg S.A. Covered Bond Bank have filed a request for exemption from the margining obligation, which is currently being examined by the relevant supervisory authorities. Therefore the information published currently only represents the content of the application submitted by the above-mentioned institutes. This page will be amended accordingly after the decision of the supervisory authorities.

The corresponding information can be found in the attached document.