Publication of SNS Bank disclosure templates related to the 2015 EU-wide Transparency Exercise

SNS Bank notes the announcements made today by the European Banking Authority and De Nederlandsche Bank (DNB) regarding the information of the EU-wide Transparency Exercise 2015 and fulfilment of the EBA Board of Supervisors’ decision.

The disclosure templates for SNS Bank are published on a mixed financial holding basis. To better reflect its current financial position, SNS Bank has also made available the templates on a stand-alone basis.

The disclosure templates related to the 2015 EU-wide Transparency Exercise, which was carried out by the EBA for more than one hundred European banks, include information on capital, credit risk, market risk and exposure to sovereigns as of December 2014 and June 2015. On those dates, SNS Bank was still a wholly-owned subsidiary of SNS REAAL and SNS Bank’s disclosure templates therefore include financial data and regulatory capital ratios on a mixed financial holding basis.

On 30 September 2015, SNS Bank was transferred from SNS REAAL to the Dutch State. As from that date, the financial data and regulatory capital ratios are similar to the stand-alone values. A number of key ratios included in the disclosure templates published by the EBA differs materially from the stand-alone ratios. The first half 2015 stand-alone Common Equity Tier 1 ratio and leverage ratio were 20.4% and 4.3% respectively.

As the stand-alone financial data are a better reflection of the current financial position of SNS Bank, SNS Bank has also made available the disclosure templates on a stand-alone basis.

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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