Rabobank Nederland's Australian Branch launched a debt instrument designed to meet the Basel III net stable funding ratio rules yesterday.Under the rule, banks are encouraged to extend their liability base beyond one year, which is classified as stable funding.Rabobank has issued a five-year note that allows investors to "put" their investment with a minimum of 12 months notice.It includes a step-up feature designed to encourage investors to hold them until maturity.Rabobank's director of long-term funding, Patrick Mitchell, said in a statement that a number of investors have mandates that do not allow holdings with long maturities."This product has been designed to fit within their parameters and also comply with the proposed net stable funding rules," Mitchell said.Rabobank's Stable Funding Notes are senior unsecured obligations.The initial margin is 62 basis points over the three-month bank bill swap rate, stepping up to 150 basis points in year two and 200 points in years three to five.