ING discloses binding MREL requirements
Amsterdam, 2 July 2018, 08:00 am CET
ING Groep N.V. 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 immediately.
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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