7 9 Subordinated liabilities 20 Equity - - - - - - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 Other provisions Provision for Restructuring tax and legal in millions of euros provision issues Other Total Opening balance on 1 January 2016 44 159 73 276 Changes due to legal merger 284 198 11 493 Additions 554 557 124 1,235 Withdrawals (386) (36) (32) (454) Releases (78) (131) (14) (223) Closing balance on 31 December 2016 418 747 162 1,327 Opening balance on 1 January 2015 38 183 83 304 Additions 63 26 42 131 Withdrawals (52) (49) (6) (107) Releases (5) (1) (46) (52) Closing balance on 31 December 2015 44 159 73 276 This represents the loans relating to the issue ofTrust Preferred Securities and subordinated loans. In millions of euros 2016 2015 Loans related to the issue ofTrust Preferred Securities III, VI 409 1,853 Subordinated loans 16,847 15,479 Balance on 31 December 17,256 17,332 In millions of euros 2016 2015 This item can be broken down as follows: Capital 600 Premium 5,402 Rabobank Certificates 5,948 5,949 Capital Securities 7,821 8,002 Revaluation reserves 431 792 Statutory reserve 752 641 Other reserves 22,678 (3,479) Profit for the year 1,960 908 Total equity 39,590 18,815 Capital This section includes the fully issued and paid-up share capital. All shares have been issued to local Rabobanks. As of 1 January 2016, as a consequence of the legal merger between Rabobank and the local Rabobanks, the shares became void. Capital in millions of euros 2016 2015 Changes during the year: Opening balance 600 600 Changes due to legal merger (600) Closing balance 600 Premium In the following table details of the issues of subordinated liabilities are shown: Subordinated liabilities Notional Year of (in millions) Currency Coupon issuance Year of maturity 1,500 USD 3.75% 2016 2026 2025, early 225 AUD 5.00% 2015 repayment 2020 2025, early repayment 475 AUD Variable 2015 possible 2020 1,500 USD 4.375% 2015 2025 1,250 USD 5.25% 2015 2045 1,000 GBP 4.625% 2014 2029 2026, early repayment 2,000 EUR 2.50% 2014 possible in 2019 50,800 JPY 1.429% 2014 2024 1,000 EUR 3.875% 2013 2023 1,750 USD 4.625% 2013 2023 1,250 USD 5.75% 2013 2043 1,000 EUR 4.125% 2012 2022 500 GBP 5.25% 2012 2027 1,500 USD 3.95% 2012 2022 1,000 EUR 3.75% 2010 2020 1,000 EUR 5.875% 2009 2019 Premium in millions of euros 2016 2015 Changes during the year: Opening balance 5,402 5,402 Changes due to legal merger (5,402) Closing balance 5,402 Rabobank Certificates Rabobank Certificates represent participation rights issued by Rabobank via the foundation Stichting Administratie Kantoor Rabobank Certificaten and belong to the Common Equity Tier 1 capital of Rabobank.The Rabobank Certificates have been listed on Euronext Amsterdam since 27 January 2014. The initial opening price on 27 January 2014 amounted to 105.00% (EUR 26.25). On 31 December 2016, the trading price amounted to 114.18% (EUR 28.55). At year-end 2016, the total number of certificates was 237,961,365 with a nominal value of EUR 25 each. The distribution paid per certificate in 2016 was EUR 1,625 (2015: EUR 1,625). The Executive Board is entitled not to pay the distribution. Unpaid distributions will not be paid at a later date. The amounts listed in the table below are based on the nominal value of EUR 25 per Rabobank Certificate. 285 Notes to the statement of financial position

Rabobank Bronnenarchief

Jaarverslagen Rabobank | 2016 | | pagina 286