ING Group discloses binding MREL requirements
02 Julio 2018 - 1:01AM
ING Group NV has received formal notification from De
Nederlandsche Bank (DNB) of its binding minimum requirement for own
funds and eligible liabilities (MREL). The MREL requirement has
been established to ensure that banks in the European Union have
sufficient own funds and eligible liabilities to absorb losses in
the case of potential bank failure. The MREL requirement is set for
ING Group at a consolidated level, as determined by the Single
Resolution Board (SRB).
This MREL requirement has been set at € 91.24 billion,
corresponding to 29.03% of ING Group's risk weighted assets at 31
December 2016 and is comes into effect inmediately.
The requirement is in line with our expectations, and consistent
with our funding plans and single point of entry approach. ING
Group believes that it already complies with these MREL
requirements. Future requirements will be subject to ongoing
regulatory review and clarification.
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Investor
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Christoph Linke |
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ING Group Investor
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+31 20 576 6396 |
Christoph.Linke@ing.com |
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ING
PROFILE ING is a global financial institution with a
strong European base, offering banking services through its
operating company ING Bank. The purpose of ING Bank is empowering
people to stay a step ahead in life and in business. ING Bank's
more than 51,000 employees offer retail and wholesale banking
services to customers in over 40 countries. ING Group shares are
listed on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels
and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's strategy, evidenced
by ING's ranking as a leader in the banks industry group by
Sustainalytics. ING Group shares are included in the FTSE4Good
index and in the Dow Jones Sustainability Index (Europe and World),
where ING is also among the leaders in the banks industry
group. IMPORTANT LEGAL INFORMATION Elements of
this press release contain or may contain information about ING
Groep N.V. and/ or ING Bank N.V. within the meaning of Article
7(1) to (4) of EU Regulation No 596/ 2014. Projects may
be subject to regulatory approvals. Certain of the statements
contained herein are not historical facts, including, without
limitation, certain statements made of future expectations and
other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. Actual results, performance or events may differ
materially from those in such statements due to a number of
factors, including, without limitation: (1) changes in general
economic conditions, in particular economic conditions in ING's
core markets, (2) changes in performance of financial markets,
including developing markets, (3) potential consequences of
European Union countries leaving the European Union or a break-up
of the euro, (4) changes in the availability of, and costs
associated with, sources of liquidity such as interbank funding, as
well as conditions in the credit and capital markets generally,
including changes in borrower and counterparty creditworthiness,
(5) changes affecting interest rate levels, (6) changes
affecting currency exchange rates, (7) changes in investor and
customer behaviour, (8) changes in general competitive
factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical
risks and policies and actions of governmental and regulatory
authorities, (11) changes in standards and interpretations
under International Financial Reporting Standards (IFRS) and
the application thereof, (12) conclusions with regard to
purchase accounting assumptions and methodologies, and other
changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
exposure, (13) changes in ownership that could affect the
future availability to us of net operating loss, net capital and
built-in loss carry forwards, (14) changes in credit ratings,
(15) the outcome of current and future legal and regulatory
proceedings, (16) operational risks, such as system
disruptions or failures, breaches of security, cyber attacks, human
error, changes in operational practices or inadequate controls
including in respect of third parties with which we do business,
(17) the inability to protect our intellectual property and
infringement claims by third parties, (18) the inability to
retain key personnel, (19) business, operational, regulatory,
reputation and other risks in connection with climate change,
(20) ING's ability to achieve its strategy, including
projected operational synergies and cost-saving programmes and
(21) the other risks and uncertainties detailed in the most
recent annual report of ING Groep N.V. (including the Risk Factors
contained therein) and ING's more recent disclosures,
including press releases, which are available on www.ING.com. Many
of those factors are beyond ING's control. Any forward looking
statements made by or on behalf of ING speak only as of the date
they are made, and ING assumes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information or for any other reason.Any forward looking statements
made by or on behalf of ING speak only as of the date they are
made, and ING assumes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information or for any other reason. This document does not
constitute an offer to sell, or a solicitation of an offer to
purchase, any securities in the United States or any other
jurisdiction. |
- ING discloses binding MREL requirements.pdf
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