ING Direct 2015 Annual Report Download - page 75

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
Other provisions
Litigation
Other
Total
2015
2014
2015
2014
2015
2014
Opening balance
190
175
99
139
289
314
Additions
105
30
14
5
119
35
Releases
–81
–16
–27
–51
–108
–67
Utilised
–17
–11
–2
–1
–19
–12
Exchange rate differences
–2
1
–1
1
–3
2
Changes in the composition of the group and other changes
–8
11
24
6
16
17
Closing balance
187
190
107
99
294
289
In general, Other provisions are of a short-term nature. The amounts included in other provisions are based on best estimates with
regard to amounts and timing of cash flows required to settle the obligation.
In 2015, included in Other provisions – Litigation, is a provision related to floating interest rate derivatives that were sold in the
Netherlands. Reference is made to Note 28 ‘Other operating expenses’ and Note 44 ‘Legal proceedings’.
Other
Other liabilities – Other relates mainly to year-end accruals in the normal course of business.
Changes in other provisions
ING Bank Annual Report 2015 73