ING reports outcome of EU-wide Transparency Exercise
November 24 2015 - 12:50PM
ING Bank notes the announcements made today by the
European Banking Authority (EBA) and De Nederlandsche Bank (DNB)
regarding the information of the 2015 EU-wide Transparency Exercise
and fulfilment of the EBA Board of Supervisors' decision.
The outcome of the exercise related to ING Bank
can be found in the annexes, which can be viewed/downloaded via
ING's corporate website.
Background 2015 EU-wide
Transparency Exercise
The Board of Supervisors of the EBA decided in its
meeting of 24 of February 2015 to carry out a Transparency Exercise
in 2015. In its April meeting, the Board of Supervisors agreed on
the form and scope of the transparency exercise to be conducted in
September-November 2015 to assure a sufficient and appropriate
level of information to market participants. A testing phase was
carried out with participating banks between May and July 2015 in
order to design the process and templates.
The data collection relies as much as possible on
the information reported to the EBA on a regular basis through the
supervisory reporting framework (FINREP, COREP) and most of the
templates were centrally filled in by the EBA and sent afterwards
for verification by banks and supervisors. Banks had the chance to
correct any errors detected and to resubmit correct data through
the regular COREP/FINREP reporting channels. The only exception to
that process covers the templates on Sovereign Exposures and
Leverage Ratio which banks had to fill in by themselves.
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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 and holding a significant stake in the
listed insurer NN Group NV. The purpose of ING Bank is empowering
people to stay a step ahead in life and in business. ING Bank's
more than 52,000 employees offer retail and commercial banking
services to customers in over 40 countries.
ING Group shares are listed (in the form of
depositary receipts) on the exchanges of Amsterdam (INGA NA,
ING.AS), Brussels and on the New York Stock Exchange (ADRs: ING US,
ING.N).
Sustainability forms an integral part of ING's
corporate strategy, which is evidenced by ING Group shares being
included in the FTSE4Good index and in the Dow Jones Sustainability
Index (Europe and World). where ING is among the leaders in the
Banks industry group.
Important legal information
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, 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) consequences of a potential
(partial) break-up of the euro, (4) ING's implementation of the
restructuring plan as agreed with the European Commission, (5)
changes in the availability of, and costs associated with, sources
of liquidity such as interbank funding, as well as conditions in
the credit markets generally, including changes in borrower and
counterparty creditworthiness, (6) changes affecting interest rate
levels, (7) changes affecting currency exchange rates, (8) changes
in investor and customer behaviour, (9) changes in general
competitive factors, (10) changes in laws and regulations, (11)
changes in the policies of governments and/or regulatory
authorities, (12) conclusions with regard to purchase accounting
assumptions and methodologies, (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) ING's ability to achieve projected operational
synergies and (16) the other risks and uncertainties detailed in
the Risk Factors section contained in the most recent annual report
of ING Groep N.V. 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. The securities of NN Group have
not been and will not be registered under the U.S. Securities Act
of 1933, as amended (the "Securities Act"), and may not be offered
or sold within the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act. |
PDF version of press
release
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ING Group via Globenewswire
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