Erste Europäische Pfandbrief- und Kommunalkreditbank Aktiengesellschaft in Luxemburg („EEPK“) renamed as Commerzbank Finance & Covered Bond S.A. („CFCB“) as from 15 February 2016.The company has a Moody‘s Issuer‘s rating of A1, Outlook stable.CFCB has no longer a Lettres de Gage Rating. Furthermore, the Lettres de Gage are not ECB eligible because of regulatory changes relating to CRD IV/CRR (Art. 129).

Commerzbank Strategy 2024: As part of its strategic realignment, Commerzbank AG will relocate or discontinue most of its business activities in Luxembourg to Germany by 2024. The Luxembourg location also includes the subsidiary Commerzbank Finance & Covered Bond S.A. ("CFCB") which will remain unchanged. The main business of CFCB is the issueance of Luxembourg Covered Bonds (Lettres de Gage) as funding for the local Public Finance Portfolio. The discontinuation of public finance business in the Group also stopped CFCB?s issuance of Covered Bonds in 2013. In this context, the Bank takes advantage of market opportunities to reduce its portfolio in a value-preserving manner. Commerzbank AG will of course comply with its legal, regulatory and economic obligations arising from this business at any time.