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Cisco OSPF FAQ wrote: Q. Why are loopbacks advertised as /32 host routes in OSPF? A. Loopbacks are considered host routes in OSPF, and they are advertised as /32. For more information, refer to section 9.1 of RFC 2328. In Cisco IOS Software Releases 11.3T and 12.0, if the ip ospf network point-to-point command is configured under loopbacks, OSPF advertises the loopback subnet as the actual subnet configured on loopbacks.
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