Nearly 70% of existing Dutch RMBS deals include early call options. However, only deals that include a call date in 2012 from larger securitization originators are likely to be called through, according to Societe Generale.

When a call option is included in the bond structure, any degree of risk transfer is calculated as if it will cease at the date of the call option. The degree of risk transferred will gradually decrease until the date of the call option.

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