ING Direct 2015 Annual Report Download - page 72

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
As at 31 December 2015, ING Bank has unused lines of credit available including the payment of commercial paper borrowings
relating to debt securities in issue of EUR 14,646 million (2014: EUR 11,532 million).
16 Amounts due to banks
Amounts due to banks include non-subordinated debt due to banks, other than amounts in the form of debt securities.
Netherlands
International
Total
2015
2014
2015
2014
2015
2014
Non-interest bearing
1,299
205
1,063
691
2,362
896
Interest bearing
12,331
9,572
19,115
19,535
31,446
29,107
13,630
9,777
20,178
20,226
33,808
30,003
In 2015, ING increased its participation in the targeted longer-term refinancing operations (‘TLTRO’) with EUR 3 billion (2014: EUR 5.7
billion).
ING participates in the TLTRO of the European central bank. The TLTRO aims to stimulate lending to the real economy in the Eurozone.
The interest rate on the TLTRO’s is fixed over the life of each operation at 15 bps (i.e. MRO level prevailing at the time of allotment of 5
bps plus a fixed spread of 10 basis points). Starting 24 months after each TLTRO, ING has the option to repay any part of the amounts
allotted in that TLTRO at a semi-annual frequency. Parties that utilised the TLTRO’s, but whose eligible net lending in the period from 1
May 2014 to 30 April 2016 is below the benchmark, will be required to repay the TLTRO’s in September 2016.
Reference is made to Note 41 ‘Transfer of financial assets’ for information on securities lending as well as sale and repurchase
transactions.
17 Customer deposits and other funds on deposit
2015
2014
Savings accounts
305,941
295,532
Credit balances on customer accounts
153,323
140,707
Corporate deposits
48,137
51,501
Other
1,339
1,541
508,740
489,281
Netherlands
International
Total
2015
2014
2015
2014
2015
2014
Non-interest bearing
12,360
13,059
13,367
10,417
25,727
23,476
Interest bearing
155,450
149,706
327,563
316,099
483,013
465,805
167,810
162,765
340,930
326,516
508,740
489,281
Savings accounts relate to the balances on savings accounts, savings books, savings deposits and time deposits of personal customers.
The interest payable on savings accounts, which is contractually added to the accounts, is also included.
No funds have been entrusted to ING Bank by customers on terms other than those prevailing in the normal course of business.
Reference is made to Note 41 ‘Transfer of financial assets’ for information on securities lending as well as sale and repurchase
transactions.
Amounts due to banks by type
Customer deposits and other funds on deposit
Customer deposits and other funds on deposit by type
ING Bank Annual Report 2015 70