ING Direct 2015 Annual Report Download - page 56

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 Consolidated annual accounts of ING Bank - continued
Investments held-to-maturity increased by EUR 5.6 billion. The increase is attributable to the reclassification from Investments
Available-for-sale as mentioned above and additional investments in Government bonds.
Exposure to debt securities
ING Bank’s exposure to debt securities is included in the following balance sheet lines:
2015
2014
Available-for-sale investments
82,566
92,683
Held-to-maturity investments
7,826
2,239
Loans and advances to customers
9,625
10,579
Amounts due from banks
1,857
2,584
Available-for-sale investments and Assets at amortised cost
101,874
108,085
Trading assets
14,316
21,584
Designated as at fair value through profit and loss
1,080
1,124
Financial assets at fair value through profit and loss
15,396
22,708
117,270
130,793
1 Excludes exposures to debt securities classified as held for sale.
ING Bank’s total exposure to debt securities included in available-for-sale investments and assets at amortised cost of EUR 101,874
million (2014: EUR 108,085 million) is specified as follows by type of exposure:
Available-for-sale
investments
Held-to-maturity
investments
Loans and advances to
customers
Amounts due from
banks Total
2015
2014
2015
2014
2015
2014
2015
2014
2015
2014
Government bonds
46,104
54,860
5,500
315
874
889
52,478
56,064
Sub-sovereign,
Supranationals and
Agencies
20,337 22,893 1,619 297 257 22,253 23,150
Covered bonds
11,949
10,828
350
1,567
2,119
2,810
1,787
2,526
16,205
17,731
Corporate bonds
1,177
802
1,036
919
2,213
1,721
Financial institutions’
bonds
1,865
2,902
363
386
64
58
2,292
3,346
ABS portfolio
1,134
398
357
357
4,936
5,318
6
6,433
6,073
Bond portfolio
82,566
92,683
7,826
2,239
9,625
10,579
1,857
2,584
101,874
108,085
As of 2015, the asset class Sub-sovereign Supranationals and Agencies (‘SSA’) is disclosed separately in order to align with ING’s
Investment Portfolio Management approach. SSA comprise amongst others, multilateral development banks, regional governments,
local authorities and US agencies. Under certain conditions, SSA bonds may qualify as ‘Level 1 High Quality Liquid Assets’ for LCR and
were previously largely disclosed as financial institutions or government bonds. The comparative amounts were adjusted accordingly.
Approximately 91% (2014: 90%) of the exposure in the ABS portfolio is externally rated AAA, AA or A.
Borrowed debt securities are not recognised in the balance sheet and amount to nil (2014: nil).
Reference is made to Note 41 ‘Transfer of financial assets’ for information on securities lending as well as sale and repurchase
transactions.
Debt securities1
Debt securities by type and balance sheet lines - Available-for-sale investments and Assets at amortised cost
ING Bank Annual Report 2015 54