Australia's prudential regulator has imposed additional capital and liquidity requirements on ING Bank after the bank overstated its liquidity position for several years and at times breached minimum liquidity requirements. The Australian Prudential Regulation Authority ordered ING Australia to maintain an additional A$50 million operational-risk capital buffer and increased its minimum liquidity requirements. ING Australia had reported a liquidity coverage ratio of around 160 percent but later found it was substantially lower and at times fell below the 100 percent regulatory minimum. APRA also required ING to conduct independent reviews of its liquidity-reporting failures and risk-management practices and implement a remediation plan. ING has since raised its liquidity above regulatory minimums, with the additional requirements remaining until APRA is satisfied with the bank's remediation.
ING Groep NVAPRA imposed an A$50M operational-risk capital add-on and higher liquidity requirements on ING Australia over overstated liquidity and breaches of minimums.
ING Group NV ADR