Though RMBS transactions still dominate Dutch issuance - eight of the 13 public transactions from the Netherlands in 2001 were mortgage-backeds - other asset classes are now emerging, with CMBS, operating lease transactions and whole business securitizations now on the country's agenda, sources say.

"A lot of commercial real estate funds are looking at securitization, and corporates are considering securitizing their property portfolios," says Robert Plehn, head of securitization at ING Barings. "Car leasing companies are also considering securitization."

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