THE HAGUE, Netherlands, December 28, 2015 /PRNewswire/ --
The Dutch Central bank (DNB) has designated BNG Bank as a bank of national systemic importance. BNG Bank owes its relatively high systemic importance score to its comparatively large size and its many links with society. Its status as a bank of national systemic importance means that BNG Bank, on top of the minimum capital requirement, will be required to maintain a systemic importance buffer equal to 1% of its risk-weighted assets. The bank already meets this requirement by a considerable margin.
In April 2014, DNB announced which banks were designated as being of national systemic importance. At that time, this group did not yet include BNG Bank. The fact that it is now considered to be of systemic importance is due to the substitution of DNB's systemic importance framework by the EBA framework.
BNG Bank is the bank of and for local authorities and public sector institutions. The bank makes a sustainable contribution to minimizing the costs of social provisions for the public. BNG Bank-issued debt securities have been awarded the highest possible credit rating by Moody's (Aaa) and Standard & Poor's (AAA) and an AA+ rating by Fitch. This makes BNG Bank one of the world's most creditworthy banks.
SOURCE BNG Bank