The Dutch securitisation market moved further into normalisation in 2016. The key feature of the year was not simply that issuance continued, but that programme differentiation became more visible. Dutch issuers were not only returning; they were re-establishing distinct identities through recognised shelves, increasingly clear collateral stories and better disclosure.
Obvion was particularly active across a wider Storm family, including Green Storm and Purple Storm. ING continued with Orange Lion, and Nationale-Nederlanden remained visible through Hypenn. Delta Lloyd’s Arena NHG shelf returned again, and consumer ABS also remained part of the wider market through Credit Agricole’s Matsuba programme.
This was also a year in which the logic of post-crisis securitisation became clearer. The market rewarded transactions that were easy to analyse and supported by robust data. Loan-level reporting was no longer a developing topic but an established expectation. Dutch RMBS was becoming more analytically robust, even if still smaller and more disciplined than in the pre-crisis years.
2016 transaction list
29-01-2016 | Obvion N.V. | STORM | Storm 2016-1 B.V. | Residential Mortgages 11-04-2016 | Nationale-Nederlanden Bank N.V. | Hypenn | Hypenn RMBS V B.V. | Residential Mortgages 01-06-2016 | ING Bank N.V. | Orange Lion | Orange Lion XIII RMBS B.V. | Residential Mortgages 01-06-2016 | ING Bank N.V. | Orange Lion | Orange Lion XIV RMBS B.V. | Residential Mortgages 01-06-2016 | ING Bank N.V. | Orange Lion | Orange Lion XV RMBS B.V. | Residential Mortgages 21-06-2016 | Delta Lloyd Bank N.V. | Arena | Arena NHG 2016-I B.V. | Residential Mortgages 30-06-2016 | Obvion N.V. | Green Storm | Green Storm 2016 B.V. | Residential Mortgages 20-07-2016 | Obvion N.V. | Purple Storm | Purple Storm 2016 B.V. | Residential Mortgages 29-09-2016 | Obvion N.V. | STORM | Storm 2016-II B.V. | Residential Mortgages 20-10-2016 | Credit Agricole Netherlands | Matsuba | Matsuba 2016 B.V. | Consumer Loans 16-11-2016 | Achmea Bank N.V. | Dutch Residential Mortgage Portfolio | Dutch Residential Mortgage Portfolio II B.V. | Residential Mortgages 15-12-2016 | Nationale-Nederlanden Bank N.V. | Hypenn | Hypenn RMBS VI B.V. | Residential Mortgages 21-12-2016 | Obvion N.V. | STRONG | Strong 2016 B.V. | Structured Finance