Interventies | Kredietcrisis : Algemene Rekenkamer

Risk to the State on 31-12-2011
money	guarantees

Interventions	Risk to the State on31-12-2011
	money	guarantees
Takeover of Fortis / ABN AMRO	67,6815 34,7653 32,5463 31,7053 0 0 0	0 32,6113 9501 9501 0 0 0
Capital injection facility	13,7501 7,5651 7,0651 3,5651 0 0 0	0 0 0 0 0 0 0
Bank loan guarantee facility	0 0 0 0 0 0 0	2,7401 47,1014 38,9983 33,1753 0 0 0
Extension bank deposit guarantee scheme	0 0 0 0 0 0 0	0 0 0 0 0 0 0
Prefunding Icelandic bank deposit gua- rantee scheme	1,2361 1,4351 1,4351 9921 0 0 0	0 0 0 0 0 0 0
ING back-up facility	0 15,8572 13,0841 10,2641 0 0 0	0 0 0 0 0 0 0

Aggregate risk to the State on 31-12-2011


82,667 59,622 54,130 46,526	2,740 79,712 39,948 34,125
million €

2008

2009

2010

2011

2012

2013

2014

Interventions	2008						2009						2010						2011						2012						2013						2014

Takeover of Fortis / ABN AMRO					Change in intervention and financial change 03-10-2008 The Dutch State acquired an interest in and granted loans to the Dutch parts of Fortis/ABN AMRO. The State paid €16.8 billion for the shares and lent a sum of approximately €51 billion to FBN.	Change in intervention and financial change 24-12-2008 The State acquired a 33.8% equity interest in RFS Holdings BV from FBN. The purchase price of €6.54 billion was financed from the repayment of long-term loans.			News 26-06-2009 The Minister of Finance told the Dutch House of Representatives that he was planning to recapitalise FBN and ABN AMRO to the tune of approximately €2.5 billion.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Change in intervention and financial change 22-07-2009 The State sold its equity interest in Fortis Corporate Insurance (FCI) to Amlin Plc, a British insurance company, for €350 million. Financial change 02-07-2009 The Minister of Finance announced that Fortis Bank Nederland had repaid the short-term loans.	News 20-10-2009 A headline agreement was reached with Deutsche Bank on the acquisition of parts of ABN AMRO in order to comply with EU competition law (known as the ‘EC remedy’). See the Report published by the Netherlands Court of Audit, House of Representatives, 2009-2010 session, 31 789, no.30.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. News 03-12-2009 The Court of Audit published its report on the findings of its audit of the sale of ABN AMRO entitles to Deutsche Bank in order to comply with EU competition law. News 19-11-2009 The Minister of Finance told the House of representatives that he was planning to recapitalise FBN and ABN AMRO to the tune of approximately €4.4 billion.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. News 13-01-2010 ABN AMRO II (known as the N share) was granted a banking licence. Change in intervention and financial change 31-12-2009 The State terminated the stand-by facility for short-term loans for FBN.	Change in intervention and financial change 01-04-2010 The final step in the process of complying with EU competition law (known as the ‘EC remedy’): transfer of ABN AMRO entities to Deutsche Bank. The State granted ABN AMRO a counter-indemnity worth €950 million. ABN AMRO Bank (accounting for the bulk of the old N share) was separated from RFS Holdings and transferred to the ABN AMRO Group. The entire State interest in FBN was transferred to the ABN AMRO Group. The Mandatory Convertible Notes worth a total of €2.6 billion were converted into ordinary ABN AMRO shares. Change in intervention and financial change 05-03-2010 The State paid €218 million to the other members of the RFS Holdings consortium. The State made a temporary capital payment of €220 million to RFS Holdings. These transactions formed part of the recapitalisation of FBN and ABN AMRO.	Change in intervention and financial change 30-06-2010 The State paid €490 million into ABN AMRO’s share capital as part of the recapitalisation of FBN and ABN AMRO. News 17-06-2010 The Minister of Finance informed the House of Representatives that, as the owner of the share capital of ASR Nederland, he had adopted a new, sustainable remuneration policy for the company’s management board. News 10-05-2010 First report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2010-2011 session, 31980, nos. 3-4).	News 30-07-2010 The European Commission broadened its inquiry into the possible provision of state aid to ABN AMRO. Change in intervention 01-07-2010 Legal merger of ABN AMRO Bank and FBN to form ABN AMRO Bank. Conversion of FBN preference shares held by FBN Preferred Investments into preference shares in ABN AMRO Group. FBN Preferred Investments was renamed as ABN AMRO Preferred Investments.	Change in intervention and financial change 31-10-2010 The State terminated the guarantee given to ABN AMRO in the form of a Capital Relief Instrument. The guarantee formed part of the recapitalisation of FBN and ABN AMRO.	Change in intervention 31-12-2010 The State reduced its interest in RFS Holdings from 33.8% to 1.2505%. Change in intervention and financial change 30-12-2010 The State received coupon interest for its Mandatory Convertible Notes and added this to ABN AMRO’s equity.		News 05-04-2011 Subject to certain conditions, the European Commission gave its consent to a package of aid and the restructuring plan for the ABN AMRO Group.		Change in intervention 15-07-2011 NL Financial Investments (NLFI) founded. NLFI was given the task of managing the State’s shareholdings in ABN AMRO Group N.V., ASR Nederland N.V. and two smaller companies.	Change in intervention and financial change 29-09-2011 The shares in ABN AMRO Group, ASR Nederland and ABN AMRO Preferred Investments were transferred to NLFI and converted into depositary receipts.			News 10-04-2012 Final report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2011-2012 session, 31 980, no. 61). Financial change 09-03-2012 ABN AMRO Group’s Annual Report for 2011: proposal to pay a €250 million dividend on the group’s ordinary shares for the year 2011; proposal to pay a €13 million dividend on class A preference shares.	News 28-06-2012 ABN AMRO has agreed to pay Ageas €400 million under the terms of an agreement reached on the settlement of the legal disputes triggered by the Dutch state’s acquisition of the Dutch parts of Fortis on 3 October 2008.

Capital injection facility					Financial change 28-10-2008 Capital injection of €3 billion for AEGON (House of Representatives, 2008-2009 session, 31 371, no. 3). Financial change 19-10-2008 Capital injection of €10 billion for ING (House of Representatives, 2008-2009 session, 31 371, no. 23). Change in intervention 10-10-2008 The Minister of Finance announced the creation of a capital injection facility, setting the maximum value at €20 billion.	Financial change 12-11-2008 Capital injection of €750 million for SNS REAAL (House of Representatives, 2008-2009 session, 31 371, no. 48).			Financial change May-June 2009 SNS REAAL paid the State €32 million in coupon interest under the terms of the capital injection facility. Financial change May-June 2009 AEGON paid the State €121 million in coupon interest. Financial change mei-juni 2009 ING paid the State €425 million in coupon interest under the terms of the capital injection facility.		Change in intervention 26-10-2009 Under a supplementary agreement reached with the Minister of Finance, ING was entitled to make accelerated repayments, subject to certain conditions.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 30-11-2009 AEGON repaid €1 billion, plus €38 million in coupon interest and a repurchase fee of €81 million, excluding dividend tax. News 18-11-2009 The European Commission approved the restructuring plan for ING as part of the capital injection facility.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. News 28-01-2010 The European Commission gave its final approval to the capital injection for SNS REAAL. News januari 2010 ING and the Dutch State lodged a joint appeal against the EU’s decision to the effect that ING had been supplied with €2 billion in extra state aid.	News 29-04-2010 AEGON’s shareholders adopted a new remuneration policy for management board members, with retroactive effect from 1 January 2010. News 27-04-2010 ING’s shareholders adopted a new remuneration policy for management board members, with retroactive effect from 1 January 2010.	News 10-05-2010 First report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2010-2011 session, 31980, nos. 3-4).	Financial change 30-08-2010 AEGON repaid €500 million, including €9 million in interest and a repurchase fee of €44 million, excluding dividend tax. News 17-08-2010 The European Commission approved the restructuring plan for AEGON.		Financial change 17-11-2010 AEGON paid the State €9 million in dividend tax on the coupon interest and repurchase fee AEGON had paid in August.		Financial change 24-03-2011 The State received €56 million in dividend tax on the repurchase fee paid by AEGON on 15 March 2011. Financial change 15-03-2011 AEGON repaid €750 million, subject to a repurchase fee of €319 million (excl. dividend tax).	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 14-06-2011 The State received €150 million in dividend tax on the repurchase fee paid by ING on 13 May 2011 Financial change 13-05-2011 ING repaid €2 billion, subject to a repurchase fee of €850 million (excl. dividend tax).			News 19-12-2011 The European Commission reconfirmed its approval for the capital support provided to SNS REAAL. Financial change 09-12-2011 The State notified the European Commission that ING had not paid any dividend in respect of the 2009 and 2010 financial years.		News 10-04-2012 Final report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2011-2012 session, 31 980, no. 61). News 02-03-2012 The Court of First Instance of the European Communities quashed the EU’s decision to the effect that ING had been supplied with extra state aid.	News 11-05-2012 The European Commission launched an enquiry into: The review of the arrangements made with the State on the return on the capital injection granted to ING. The position adopted by the Dutch State and ING that Westland Utrecht Bank cannot be sold in the present circumstances. A complaint about ING Direct Italy’s pricing policy. Change in intervention 11-05-2012 The European Commission adopted a new restructuring decision containing a package of restructuring measures for ING. The measures are the same as those set out the Commission’s 2009 decision.	News 23-07-2012 The Dutch State and ING appealed against the new restructuring decision taken by the European Commission on 11 May 2012.		Financial change 26-11-2012 ING made a repayment of €750 million, plus a €375 million premium. News 19-11-2012 The State and ING withdrew their appeal against the European Commission’s restructuring decision of 11 May 2012. News 19-11-2012 The State, ING and the European Commission reached agreement on a new restructuring decision for ING. This means that the enquiry procedure has now been closed.

Bank loan guarantee facility					Change in intervention 23-10-2008 The State created a guarantee facility for financial institutions, setting the maximum value at €200 billion.	Financial change 17-12-2008 Guarantee issued to: NIBC Bank NV Value of guarantee: €0.04 billion Duration / interest: 1 year, fixed rate Amount spent: €0.04 billion Financial change 09-12-2008 Guarantee issued to: Lease Plan Corp. NV Value of guarantee: €1.6 billion Duration / interest: 2 years, fixed rate Amount spent: €1.45 billion Financial change 27-11 / 24-12-2008 Guarantee issued to: NIBC Bank NV Value of guarantee: €1.7 billion Duration / interest: 3 years, fixed rate Amount spent: €1.35 billion	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 23-01-2009 Guarantee issued to: Lease Plan Corp. NV Value of guarantee: €1.5 billion Duration / interest: 3 years, fixed rate Amount spent: €1.25 billion Financial change 19-01-2009 Guarantee issued to: SNS Bank NV Value of guarantee: €2 billion Duration / interest: 3 years, fixed rate Amount spent: €2 billion	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 10-03-2009 Guarantee issued to: ING Bank NV Value of guarantee: €2.35 billion Duration / interest: 5/5 years, fixed/floating rate Amount spent: €2.073 billion Financial change 05-03 / 22-04-2009 Guarantee issued to: SNS Bank NV Value of guarantee: €2 billion Duration / interest: 5 years, fixed rate Amount spent: €2 billion	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 11-05-2009 Guarantee issued to: FBN Value of guarantee: €2.5 billion Duration / interest: 5 years fixed rate Amount spent: €2.5 billion Financial change 06-05-2009 Guarantee issued to: FBN Value of guarantee: €0.2 billion Duration / interest: 2 years, floating rate Amount spent: €0.2 billion		Financial change 28-10-2009 Guarantee issued to: Achmea Hypotheekbank Value of guarantee: €2.17 billion Duration / interest: 5/5 years, fixed/floating rate Amount spent: €2.165 billion Financial change 02-09-2009 Guarantee issued to: FBN Value of guarantee: €3 billion Duration / interest: Commercial paper with maximum term of 1 year Amount spent: €3 billion	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Change in intervention 07-12-2009 The Minister of Finance extended the guarantee facility, subject to amended terms. Financial change 24-11-2009 Guarantee issued to: NIBC Bank NV Value of guarantee: €2 billion Duration / interest: 5/5 years, fixed/floating rate Amount spent: €2.004 billion		Change in intervention 27-04-2010 The Dutch State Treasury Agency and the Financing Directorate of the Ministry of Finance reached agreement on the corporate governance criteria that would be applied in assessing the terms of the guarantee facility.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Change in intervention 21-06-2010 The Minister of Finance extended the guarantee facility to 31 December 2010, subject to amended terms. News 10-05-2010 First report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2010-2011 session, 31980, nos. 3-4).		Financial change 25-09-2010 A loan of €50 million, provided under the terms of the €50 billion guarantee granted to ING on 19 February 2009, matured on 25 September 2009. Financial change 15-09-2010 The loans provided under the terms of the €3 billion guarantee granted to FBN on 9 February 2009 matured during the period between 8 September 2010 and 15 September 2012.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 11-12-2010 The € 53 million guarantee issued to FBN on 5 June 2009 has expired, which means that both the loan and the guarantee have now been terminated. Financial change 10-12-2010 The € 1,600 million guarantee issued to LeasePlan on 19 December 2008 has expired, which means that both the loan and the guarantee have now been terminated.	Change in intervention 01-01-2011 Following the termination of the Bank Loan Guarantee Facility, the Minister of Finance decided that financial institutions should be allowed to buy-back their loans.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 03-03-2011 NIBC paid off €155 million of the €1.5 billion guarantee issued in February 2009. Financial change 03-03-2011 NIBC paid off €336 million of the €1.7 billion guarantee issued in November-December 2008.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 10-06-2011 The € 150 million guarantee issued to FBN on 5 June 2009 has expired, which means that both the loan and the guarantee have now been terminated. Financial change 09-05-2011 The € 200 million guarantee issued to FBN on 6 May 2009 has expired, which means that both the loan and the guarantee have now been terminated.			Financial change 21-12-2011 Achmea paid off €900 million of the €2.17 billion guarantee issued in October 2009. Financial change 19-12-2011 A loan of € 1,014 million, provided under the terms of the € 1.7 billion guarantee granted to NIBC on 27 November and 24 December 2008, matured on 19 December 2011. The remaining € 336 million had already been repurchased on 3 March 2011.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. Financial change 09-02-2012 The € 780 million guarantee issued to ING on 30 January 2009 has expired, which means that both the loan and the guarantee have now been terminated. Financial change 30-01-2012 The € 2,000 million guarantee issued to SNS on 19 January 2009 has expired, which means that both the loan and the guarantee have now been terminated.	More activities Er zijn in deze periode méér gebeurtenissen dan getoond kunnen worden op de tijdbalk. Ga naar de Maand weergave om alle gebeurtenissen te bekijken. News 10-04-2012 Final report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2011-2012 session, 31 980, no. 61). Financial change 02-03-2012 Termination of the Bank Loan Guarantee Facility (following its earlier extension).	Financial change 07-05-2012 The € 1,924 million guarantee issued to LeasePlan on 28 April 2009 has expired, which means that both the loan and the guarantee have now been terminated.	Financial change 02-07-2012 NIBC used the €1.5 billion guarantee issued on 30 March 2009 to repurchase a €250 million loan.														Change in intervention December 2014 Expiry of the last guarantee issued by the State / end of intervention.

Extension bank deposit guarantee scheme					News 15-10-2008 Publication of temporary scheme in Government Gazette no. 211. Change in intervention 07-10-2008 Announcement of extension of bank deposit guarantee scheme to €100,000, with no excess for depositors.			News 07-04-2009 Publication of the Maas Committee report, entitled ‘Restoring Confidence’ and containing recommendations for improving the bank deposit guarantee scheme.	Change in intervention 11-06-2009 Decision to transpose into Dutch law an amendment to Directive 94/19/EC extending the cover to €100,000, and to withdraw the temporary scheme. News 11-06-2009 Publication of a report by a tripartite working group consisting of representatives of the Dutch Central Bank, the Dutch Banking Association and the Ministry of Finance (entitled ‘The Dutch Bank Deposit Guarantee Scheme – A Guarantee for the Future’), containing an analysis of three funding models for the scheme. This report informed the government’s position on the reform of the bank deposit guarantee scheme.	News 09-07-2009 Publication of a government position paper on the future of the financial sector (House of Representatives, 2008-2009 session, 32013, no. 1), announcing the government’s plans for reforming the bank deposit guarantee scheme.					News 10-05-2010 First report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2010-2011 session, 31980, nos. 3-4).	News 12-07-2010 The European Commission announced proposals to reform Directive 94/19/EC in order to improve consumer protection.	Financial change 06-09-2010 Presentation of Guidelines for bank deposit guarantee scheme (House of Representatives 22112, no.1055).		News 03-02-2011 Letter from Minister of Finance to the House of representatives concerning bank deposit guarantee schemes, resolution funds and bank tax (FM/2011/6316).	News 16-03-2011 General Consultation on bank deposit guarantee scheme, resolution funds and bank tax.		Financial change 01-08-2011 Draft proposal for new method of funding the Dutch bank deposit guarantee scheme sent for consultation to banks and other interested parties.				News 10-04-2012 Final report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2011-2012 session, 31 980, no. 61).

Prefunding Icelandic bank deposit gua- rantee scheme					News 8-13 oktober 2008 Court hearing on a petition submitted by the Dutch central bank for the introduction of an emergency scheme for Icesave. The Amsterdam court pronounced the emergency scheme operative on 13 October, thus setting the bank deposit guarantee scheme in motion. Change in intervention 11-10-2008 The Dutch government reached an agreement with the Icelandic authorities under which the Dutch government would lend Iceland approximately €1.3 billion for the purpose of refunding savers under the Icelandic bank deposit guarantee scheme. Signing of Memorandum of Understanding. News begin oktober 2008 Savers holding accounts with the Dutch branch (known as Icesave) of Landsbanki, an Icelandic bank, were no longer able to access their savings.	News 25-12-2008 The Dutch central bank paid Dutch depositors the proportion of their savings for which Iceland was liable. december 2008 The Dutch government lent Iceland €1.236 billion to enable the latter to implement the bank deposit guarantee scheme (under which savings are guaranteed to a value of €20,887). The scheme was administered by the Dutch central bank.	News 15-02-2009 The Dutch central bank disbursed the Dutch State’s share of the bank deposit guarantee scheme, i.e. covering balances of between €40,000 and €100,000 and savers’ 10% excess on balances of between €20,000 and €40,000. Financial change januari-maart 2009 Supplementary loan of €93 million granted to Icelandic authorities (including operational fee to cover operations performed by the Dutch central bank).		Change in intervention 05-06-2009 The Dutch Minister of Finance and the Icelandic authorities reached agreement on payments made under the Icesave bank deposit guarantee scheme.	Change in intervention 28-08-2009 The Icelandic parliament attached further conditions to the guarantee given by the Icelandic state.	Change in intervention 19-10-2009 The Dutch Minister of Finance reached a supplementary agreement reached with the Icelandic government on the terms of the loan, in order to meet the wishes of the Icelandic parliament.	News 30-12-2009 The Icelandic parliament passed a Bill enabling the Icelandic state to issue a guarantee.	News 05-01-2010 The Icelandic President refused to sign the Act passed by parliament.	News 12-04-2010 Publication of a report by an Icelandic special committee of inquiry into the collapse of Iceland’s banks. News 09-04-2010 Second Icelandic referendum: the latest deal was rejected, with 60% of voters voting against the agreement and 40% voting in favour. News 06-03-2010 Referendum on Icesave. Icelandic voters rejected the repayment terms.	News 26-05-2010 The EFTA Surveillance Authority sent a letter of formal notice to Iceland on compliance with the obligations arising from the bank deposit guarantee scheme. News 10-05-2010 First report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2010-2011 session, 31980, nos. 3-4).			News 09-12-2010 The Dutch and Icelandic governments reached agreement on the third version of the loan agreement. For the second time, the Icelandic President subsequently refused to sign the agreement, and called a referendum.		News 12-04-2011 The Minister of Finance made clear that there was no longer any scope for negotiations. With no solution in sight, the Dutch State was now forced to take recourse to the ESA in order to exercise its rights (House of Representatives, 2010-2011 session, 31371, no. 360). News 09-04-2011 The Icelandic people rejected the Icesave agreement reached by negotiators from Iceland, the UK and the Netherlands in December 2010 (House of Representatives, 2011-2012 session, 31371, no. 360).			Financial change 28-10-2011 Iceland’s high court of justice confirmed that depositors, including the Dutch State, would receive preferential treatment in the winding-up of Landsbanki’s insolvent estate.	News 15-12-2011 The EFTA Surveillance Authority began proceedings against Iceland at the EFTA Court, on the grounds that Iceland had misused the deposit guarantee scheme. Financial change 15-12-2011 The Dutch State recovered €443 million from the estate of Landsbanki, the insolvent parent company of the Icesave internet savings bank.		News 10-04-2012 Final report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2011-2012 session, 31 980, no. 61).	Financial change 31-05-2012 The Dutch state received a second payment of €197 million from the bankrupt estate of Landsbanki, the parent company of internet savings bank Icesave.		Financial change 17-10-2012 The Netherlands received a third payment of €93.5 million from Landsbanki’s bankrupt estate.

ING back-up facility							Change in intervention 26-01-2009 The Dutch State and ING signed an agreement on the creation of a back-up facility (term sheet).	Change in intervention 31-03-2009 Signing of detailed contract between the Dutch State and ING (long documentation). News 15-03-2009 The European Commission extended its temporary approval of the back-up facility for ING, as complying with the rules on state aid.			Financial change 24-10-2009 Adjustment of fees under the restructuring plan for the European Commission.	News 18-11-2009 The European Commission approved the back-up facility.			News 10-05-2010 First report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2010-2011 session, 31980, nos. 3-4).						News 17-06-2011 Announcement of sale of ING Direct US (Transaction term sheet: ING Direct US IABF Restructuring)				Change in intervention and financial change 17-02-2012 ING sold its US subsidiary, ING Direct US, to an American bank called Capital One. The sale is part of the restructuring plan for ING.	News 10-04-2012 Final report published by the Temporary Parliamentary Committee Investigating the Financial System (‘De Wit Committee’) (House of Representatives, 2011-2012 session, 31 980, no. 61).

Legend

Change in interventionChange in intervention Change in intervention An event leading to a change in the nature of the intervention, such as a decision on the creation, amendment or termination of an intervention.	Change in intervention and financial changeChange in intervention and financial change Change in intervention and financial change An event that not only leads to a change in the nature of the intervention but also has a financial impact on the intervention.	AuditedAudited Audited Period (budget year) on which the Minister of Finance has reported to the House of Representatives.
Financial changeFinancial change Financial change An event that has a financial impact on the intervention, such as a receipt or an expenditure, or the issue or termination of a guarantee.	NewsNews News A relevant event that does not affect the nature of the intervention nor has any financial impact on it.	More activitiesMore activities More activities More events occurred on this date than fit on the timeline. Use this icon to switch to the monthly view, where all the events are displayed.