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BRIEF-ING, Dutch state agree securities deal
November 1, 2013 / 7:16 AM / 4 years ago

BRIEF-ING, Dutch state agree securities deal

AMSTERDAM, Nov 1 (Reuters) - ING Groep NV : * Ing and Dutch state reach agreement on unwinding of illiquid assets back-up

facility * The iabf in its current form will be terminated * Ing - regular fee payments will be settled and the other restrictions as part

of the iabf agreement will no longer be applicable * Ing -the release of what remains of the provision after this transfer will

not have a material impact on ing’s results. * Ing - will transfer to Dutch state EUR 0.4 billion of remaining provision it

formed in 2009 for additional guarantee fees * Ing - on pro forma basis, unwinding of iabf is expected to add about 10 basis

points to ing bank’s core tier 1 ratio * Ing - at current market prices, the portfolio has market value of

approximately EUR 6.4 billion

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