ING reports outcome of EU-wide Transparency Exercise
November 29 2019 - 12:32PM
29 November 2019
ING reports outcome of 2019 EU-wide Transparency
Exercise
ING Groep N.V. notes the announcements made today by the
European Banking Authority and the European Central Bank (ECB)
regarding the information of the 2019 EU-wide Transparency Exercise
and fulfilment of the EBA Board of Supervisors’ decision.
Background 2019 EU-wide Transparency ExerciseAt
its meeting in April 2019, the EBA Board of Supervisors approved
the package for the 2019 EU-wide Transparency Exercise, which since
2016 is performed on an annual basis and published along with the
Risk Assessment Report (RAR). The annual transparency exercise will
be based solely on COREP/FINREP data on the form and scope to
assure a sufficient and appropriate level of information to market
participants.
The outcome of the exercise related to ING Group can be found in
the annexes on the EBA website.
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 supervisory reporting channels.
Note for editors
For further information on ING, please visit www.ing.com.
Frequent news updates can be found in the Newsroom or via the
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Press enquiries |
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Investor enquiries |
Christoph Linke |
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ING Group Investor Relations |
+31 20 576 6415 |
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+31 20 576 6396 |
Christoph.Linke@ing.com |
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Investor.Relations@ing.com |
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 53,000
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 Leader in the banks industry group by
Sustainalytics and ‘A’ rating in MSCI’s ratings universe. ING Group
shares are included in major sustainability and Environmental,
Social and governance (ESG) index products of leading providers
STOXX, Morningstar and FTSE Russell.
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.
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 the United Kingdom leaving the
European Union or a break-up of the euro, (4) changes in the fiscal
position and the future economic performance of the US including
potential consequences of a European sovereign debt crisis (5)
potential consequences of a European sovereign debt crisis (6)
changes in the availability of, and costs associated with, sources
of liquidity such as interbank funding, (7) changes in
the conditions in the credit and capital markets generally,
including changes in borrower and counterparty creditworthiness,
(8) changes affecting interest rate levels, (9) inflation and
deflation in our principal markets, (10) changes affecting
currency exchange rates, (11) changes in investor and customer
behaviour, (12) changes in general competitive factors, (13)
changes in or discontinuation of ‘benchmark’ indices, (14) changes
in laws and regulations and the interpretation and application
thereof, (15) changes in compliance obligations including, but not
limited to, those posed by the implementation of DAC6, (16)
geopolitical risks, political instability and policies and actions
of governmental and regulatory authorities, (17) changes in
standards and interpretations under International Financial
Reporting Standards (IFRS) and the application thereof, (18)
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, (19) changes in ownership that could
affect the future availability to us of net operating loss, net
capital and built-in loss carry forwards, (20) changes in credit
ratings, (21) the outcome of current and future legal and
regulatory proceedings, (22) 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,
(23) risks and changes related to cybercrime including the effects
of cyber-attacks and changes in legislation and regulations related
to cybersecurity and data privacy, (24) the inability to protect
our intellectual property and infringement claims by third parties,
(25) the inability to retain key personnel, (26) business,
operational, regulatory, reputation and other risks in connection
with climate change, (27) ING’s ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (28) 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, (29)
this document may contain inactive textual addresses to internet
websites operated by us and third parties. Reference to such
websites is made for information purposes only, and information
found at such websites is not incorporated by reference into this
document. ING does not make any representation or warranty with
respect to the accuracy or completeness of, or take any
responsibility for, any information found at any websites operated
by third parties. ING specifically disclaims any liability with
respect to any information found at websites operated by third
parties. ING cannot guarantee that websites operated by third
parties remain available following the publication of this
document, or that any information found at such websites will not
change following the filing of this document. 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. 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 reports outcome of 2019 EU-wide Transparency Exercise
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