On June 16, the Housing Financing Fund signed agreements regarding Issuance and Market Making in HFF Bonds. The objective of the agreements is to enhance the HFF access to borrowed money and strengthen price formation in the secondary market. As of July 1st, 2010, five financial institutions have been appointed as “Primary Dealers in HFF bonds”. They are: Arion banki hf., Íslandsbanki hf., NBI hf., MP Investment Bank and Saga Capital Investment Bank The following bullet points describe the content of the Agreement: Primary Dealers have exclusive rights to submit bids at HFF auctions Primary Dealers have exclusive access to HFF Securities Lending Facility. Primary Dealers are obliged to submit bids at each auction for 600 m.kr. nominal value. Primary Dealers are Market Makers in the secondary market for HFF bonds Primary Dealers are obliged to quote on Nasdaq OMX in Iceland bid and ask offers for at least 100 m.kr. nominal value in each HFF bonds. Primary Dealers are in their bid and ask quotes governed by maximum spreads as laid out in the agreements. Primary Dealers are obliged to renew their offers within ten minutes after execution of transaction. If the Primary Dealer's total transaction in one series during that day equals 500 m.kr. at nominal value, the Primary Dealer is permitted to withdraw from the maximum spread requirement for that particular series for the remainder of that day. Market making for HFF150914 will be changed from October 1st, 2010, where Primary Dealers will only have to submit bids for that series. The agreement is valid from July 1st, 2010 to June 30, 2011. Total remuneration paid to all Primary Dealers is 65 m.kr. for the duration of the agreement for the market making part and 0,20% fee is determined from the market markets share of accepted auction bids.