46 Costs of external auditor 47 Remuneration of the Supervisory Board and the Executive Board - - - - - - - - - - - - - - - - - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 In the normal course of Rabobank's business operations, banking transactions are carried out with related parties. These involve loans, deposits and transactions in foreign currencies. These transactions are conducted against commercial terms and conditions and market prices. The volumes of related party transactions, year-end outstanding balances and the corresponding income and expenses during the year are presented in the following table.Transactions and balances outstanding with members of the Executive Board and members of the Supervisory Board are disclosed in Section 47. Transactions with pension funds are disclosed in Section 27. The audit fees listed above relate to the procedure applied to Rabobank and its consolidated group entities by PwC and other member firms in the global PwC network, including their tax services and advisory groups. These audit fees relate to the audit of the financial statements, regardless of whether the work was performed during the financial year. In 2015, the audit firm Ernst Young Accountants LLP in the Netherlands invoiced the below amounts to Rabobank, its subsidiaries and other companies it consolidates, within the meaning of section 382a of Book 2 of the Dutch Civil Code. These amounts do not include fees for financial statements audits, other audit engagements, tax consultancy services and other non-audit services charged by other auditors and other Ernst Young business units in millions of euros 2015 Financial statements audit 7 Other audit engagements 1 Other non-audit services Total 8 The members of the Supervisory Board and the Executive Board are listed in Section 53 of these consolidated financial statements. Rabobank regards the members of the Executive Board and the Supervisory Board as key management personnel. The members of the Executive Board are among the identified staff as disclosed in Section 39. In 2016, the remuneration of members and former members of the Executive Board amounted to 7.5 (2015: 6.4). The increase is related to the expansion of the board with one extra member. Investments in associates Other related parties in millions of euros 2016 2015 2016 2015 Loans Outstanding at beginning of year 361 360 Provided during the year 178 9 Redeemed during the year (88) (8) Other 52 Gross loans as of 31 December 503 361 Less: loan impairment allowance (68) (58) Total loans as of 31 December 435 303 Deposits from banks and deposits from customers Outstanding at beginning of the year 7,269 6,822 Received during the year 411 829 29 Repaid during the year (576) (382) Other 77 Debts as of 31 December 7,181 7,269 29 Other assets 6 39 Credit guarantees and other guarantees issued by Rabobank 70 28 Income Net interest income 12 10 Fee and commission income 227 234 Trading income - Other - Total income from transactions with related parties 239 244 Expenses Interest expense 331 347 Fee and commission expense - Impairments 11 25 Total expenses from transactions with related parties 342 372 Expenses for services provided by Rabobank's independent auditor, PricewaterhouseCoopers Accountants N.V. ('PwC') and its member firms and/ or affiliates to Rabobank and its subsidiaries in 2016 are specified as follows: in millions of euros 2016 PwC Other PwC Netherlands network firms Total Audit fees 6.2 8.0 14.2 Audit related fees 0.5 0.1 0.6 Tax advisory fees - 0.8 0.8 Other non-audit services - 2.4 2.4 Total 6.7 11.3 18.0 239 Notes to the consolidated financial statements

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Jaarverslagen Rabobank | 2016 | | pagina 240