De Volksbank takes note of outcome 2017 EU-wide Transparency Exercise
De Volksbank N.V. (de Volksbank) notes the announcements made today by the European Banking Authority (EBA) and De Nederlandsche Bank (DNB) regarding the information of the 2017 EU-wide Transparency Exercise and fulfilment of the EBA Board of Supervisors’ decision.
Background 2017 EU-wide Transparency Exercise
At its meeting in May 2017, the EBA Board of Supervisors approved the package for the 2017 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 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.
The (non-)performing and forborne exposure figures as reported in the 2017 EU-wide Transparency Exercise templates are based on de Volksbank’s financial reporting (FINREP). During the period in which the EBA transparency exercise took place, de Volksbank was still analysing these figures. The results of this analysis were not available at the time of finalisation of the transparency exercise. The definitive (non-)performing and forborne exposure figures in the FINREP may, therefore, deviate from the figures as reported in the 2017 EU-wide Transparency Exercise template.