NAB attracts LCR bank bid, boosting issuance hopes

A €500m covered bond tap from National Australia Bank this week attracted unexpectedly vigorous interest from European bank investors on speculation that, despite coming from outside the European Economic Area (EEA), it will be eligible for inclusion in liquidity buffers. The deal will have been closely watched by other non-EEA issuers wanting to take advantage of demand before final regulatory guidelines are published at the end of September.