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ABN Amro to recognize €183M incidental net loss in Q1

ABN AMRO Bank NV will recognize a roughly €183 million incidental net loss in the first quarter due to a U.S. client that failed to meet the minimum risk and margin requirements following "extreme stress and dislocations" in the market.

The Dutch bank said March 26 that the unnamed client of its ABN AMRO Clearing business traded options and futures.

ABN AMRO Clearing closed out the positions of this client following the failure, which came amid unprecedented volumes and volatility in financial markets due to the coronavirus pandemic.