| Project Detail |
This summary describes ING Bank N.V.’s (ING) equity ownership of its subsidiary in Ukraine, Joint stock company “ING Bank Ukraine” (ING Ukraine). The MIGA guarantee is expected to provide regulatory capital relief to ING on a consolidated level by reducing the amount of Risk Weighted Assets (RWAs). The tenor of the guarantee is expected to be up to 1 year and 1 day (the Project). ING is a global financial institution with a strong European base, offering retail and wholesale banking services. Its subsidiary banks outside of the Netherlands are required to maintain reserves at the central banks in their respective jurisdictions. Mandatory reserves in ING Ukraine contribute to ING’s overall RWA at the consolidated level, resulting in less headroom for other assets at a given level of capital. |
