ING Groep N.V. has acknowledged the announcements made by the European Banking Authority (EBA) and the European Central Bank (ECB) concerning the 2024 EU-wide Transparency Exercise. This exercise is conducted annually since 2016, alongside the Risk Assessment Report, as per the decision of the EBA Board of Supervisors.
The transparency exercise relies on COREP/FINREP data to provide a sufficient level of information to market participants. ING Group's specific results from this exercise are available in the annexes on the EBA website.
According to the procedure, templates were initially completed by the EBA and then sent to banks and supervisors for verification. Banks had an opportunity to identify and correct any errors before resubmitting accurate data through standard supervisory reporting channels. Additionally, they could provide specific information needed to clarify individual data points.