Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 112

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 112
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 against it. These Compensation Schemes are funded, directly or indirectly, by financial services firms operating and/or licensed in the relevant jurisdiction.
Dutch Deposit Guarantee Scheme (‘DGS’):, ING Bank participates in the Dutch Deposit Guarantee Scheme (DGS) which guarantees an amount of EUR 100,000 per person per bank, regardless of the number of 

accounts held. Based on the EU Directive on deposit guarantee schemes, ING pays quarterly risk-weighted contributions into a DGS-fund. The Dutch DGS fund reached its to a target size of 0.8% of all deposits guaranteed under the DGS in July 2024.
In the event of a Dutch bank's failure, depositor compensation is paid from the DGS-fund. If the available financial means of the fund are insufficient, Dutch banks, including ING, may be required to pay extraordinary ex-post contributions not exceeding 0.5% of their covered deposits per calendar year. In exceptional circumstances and with the consent of the competent authority, higher contributions may be required. However, extraordinary ex-post contributions may be temporarily deferred if they would jeopardise the solvency or liquidity of a bank. 
A number of elements of the regulations governing the Dutch DGS changed on 1 September 2024. The Amendment Decree aims to further implement the 2014 European DGS Directive and update provisions relating to the DGS. Key changes include: 
1.Contributions to the DGS fund will be levied quarterly to maintain the fund at its target size, with exceptions for banks whose deposit base has grown.
2.The Dutch Central Bank (DNB) may transfer all or part of the accumulated individual DGS balance of a bank whose deposits are transferred to another bank within the Netherlands. 
3.Non-natural persons without legal personality, such as general or commercial partnerships, will be considered a single depositor, with deposits protected up to EUR 100,000 per bank.
Since 2015, the EU has been discussing the introduction of a pan-European Deposit Guarantee Scheme (EDIS), but no political agreement has been reached on its creation. To strengthen the Banking Union, the common framework for bank crisis management and deposit insurance (CMDI) might be reformed by making changes to three existing key pieces of EU legislation: the Bank Recovery and Resolution Directive (BRRD), the Single Resolution Mechanism Regulation (SRMR), and the Deposit Guarantee Schemes Directive (DGSD). The European Commission published proposals for these reforms on 18 April