ING Direct 2015 Annual Report Download - page 235

Contents
Who we are
Report of the
Management
Board
Corporate
Governance
Consolidated
annual accounts
Parent company
annual accounts
Other
information
Additional
information
Notes to the parent company annual accounts of ING Bank N.V. - continued
20 Contingent liabilities and other commitments
2015
2014
Discounted bills
Guarantees
47,905
44,593
Irrevocable letters of credit
4,862
5,302
Other
209
331
Contingent debts
52,976
50,226
Irrevocable facilities
46,836
39,770
99,812
89,996
2015
2014
Group companies
34,480
31,509
Third parties
18,496
18,717
52,976
50,226
2015
2014
Group companies
14
15
Third parties
46,822
39,755
46,836
39,770
21 Other
Guarantees
ING Bank has issued guarantees as participant in collective arrangements of national banking funds and as a participant in required
collective guarantee schemes. For example, ING Bank N.V. provided a guarantee to the German Deposit Guarantee Fund
(‘Einlagensicherundsfonds’ or ‘ESF’) under section 5 (10) of the by-laws of this fund, where ING Bank N.V. indemnifies the Association of
German Banks Berlin against any losses it might incur as result of actions taken with respect to ING Germany. The ESF is a voluntary
collective guarantee scheme for retail savings and deposits in excess of EUR 100,000.
ING Bank N.V. has issued statements of liabilities in connection with Section 403 Book 2 of the Dutch Civil Code and other guarantees
for a number of group companies.
Fiscal unity
ING Bank N.V. forms a fiscal unity with ING Groep N.V. and several Dutch banking entities for corporation tax purposes. ING Bank N.V.
and ING Groep N.V. and its banking subsidiaries that form part of the fiscal unity are jointly and severally liable for taxation payable by
the fiscal unity.
Contingent liabilities by type
Contingent debts
Irrevocable facilities
ING Bank Annual Report 2015 233