Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 49

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 49
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 EU and political
agreement on the proposals was reached in June 2023. On May 30, 2024, the European Council announced it had adopted the proposals. As a result, the amendments to the CRR implementing the Basel III Finalization largely apply from January 1,
2025. However, on June 18, 2024, the European Commission announced that it intends to postpone the entry into force of the market risk framework by one year until January 1, 2026 and on June 12, 2025 it announced a further intended one-year postponement of the entry into force until January 1, 2027. The amendments to the CRD IV Directive will need to be implemented into national law and are set to largely apply from January 11, 2026.

In light of the above, DNB has set a minimum floor on the risk-weighting of (part of) the mortgage loan portfolios of Dutch banks, such
as ING Bank, using internal risk models for said risk-weighting, for a period of at least one year. This measure effectively came into force in The Netherlands as of January 1, 2022, and is currently set to expire on December 1, 2026, but
DNB can decide whether or not to extend the measure, each time for a period of two years.

Although the timing for adoption, contents and
impact of the above proposals remain subject to considerable uncertainty, the implementation of this new risk assessment framework may impact the calculation of the Group’s risk-weighted assets and, consequently, the Group CET1 Ratio. For more
information on regulatory action and its potential impact on the value of the Securities, see the risk factor “—Regulatory action in the event of a bank failure could materially adversely affect the value of our debt securities and capital securities” below and “Regulation and Supervision — Bank recovery and resolution directive,” starting on page 61 of the 2024 Form 20-F incorporated herein by
reference.

The Issuer may redeem the Securities at its option in certain situations.

The Securities may be redeemed at the Issuer’s option, in whole but not in part, on the First Reset Date and on any Interest Payment
Date thereafter. The Securities may also be redeemed at any time if at least 75% or more of the aggregate principal amount of the Securities of the series issued have been redeemed or purchased and cancelled. In considering whether to exercise its
option to redeem the Securities on any relevant date