We report on observations of the narrow-line Seyfert galaxy NGC 5506 with t
he Rossi X-ray Timing Explorer: The observations cover a time interval of s
imilar to 1000 d during which the source showed strong flux and spectral va
riability. The spectrum clearly shows iron fluorescence emission at 6.4 keV
and significant reflection features. Both the equivalent width of the iron
line and the relative strength of the reflected continuum are higher durin
g low flux states. The variability of the reflection features can be explai
ned by the presence of two reflected components: one that responds rapidly
to flux changes of the primary continuum and a second, slowly variable, com
ponent originating from a distant reflector, e.g. a molecular torus.