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ING gets 2017 CET1 requirement from ECB

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ING gets 2017 CET1 requirement from ECB

The ECB instructed ING Groep NV to have a minimum common equity Tier 1 ratio of 9.0% in 2017 as part of the central bank's 2016 Supervisory Review and Evaluation Process.

The ratio requirement includes the Pillar 2 requirement but not the nonmandatory Pillar 2 guidance, which was not disclosed. Under the new maximum distributable amount framework, the group's trigger level will decline to 9.0% in 2017 from 10.25% in 2016 but rise to 11.75% in 2019.

ING recorded phased-in and fully loaded CET1 ratios of 13.5% as of Sept. 30.