In its assessment of covered bond offering programmes, DNB relies to a very large extent on documented and well-argued findings of external legal and economic experts (i.e. external legal counsels, credit rating agencies and other external experts and parties that may be involved).
Registration of a covered bond by DNB does not take away an investor’s responsibility to be aware of the risks associated with such a bond as set out in detail in the prospectus and the documentation of the offering programme.
DNB does not provide any guarantees or insurance regarding the return on or quality of the covered bonds. The return brought by a registered covered bond is determined largely by factors outside the direct sphere of influence of DNB. Despite the fact that registered covered bonds must qualify for a high credit rating at the time of issue, the likelihood of loss cannot be ruled out.