29 Irrevocable facilities
30 Main subsidiaries
Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3
De Lage Landen Financial Services B.V.
De Lage Landen Financiering B.V.
De Lage Landen International B.V.
De Lage Landen Trade Finance B.V.
De Lage Landen US Participations B.V.
De Lage Landen Vendorlease B.V.
FGH Bank N.V.
Rabo Groen Bank B.V.
Rabo Merchant Bank N.V.
Rabo Mobiel B.V.
Rabobank International Plolding B.V.
On 1 January 2016, the local Rabobanks and the Coöperatieve
Centrale Raiffeisen-Boerenleenbank B.A. entered into a legal
merger. Furthermore, on 1 January 2016, the name of the
Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.
was changed into Coöperatieve Rabobank U.A.
Fiscal unit for corporate tax purposes
For corporate tax purposes Rabobank forms a fiscal unit with
a number of domestic subsidiaries. Under the fiscal unit, each
participating legal entity is jointly and severally liable for the
fiscal unit's corporate tax liabilities.
A liquidity guarantee was issued by Rabobank for Rabo Groen
Bank B.V.
In the past, Rabobank has guaranteed the liabilities of a number
of group companies. Even though these guarantees have
come to an end, Rabobank remains liable for the fulfilment of
obligations entered into by the group companies during the
term of the guarantees.
In connection with theTrust Preferred Securities, Rabobank
guarantees theTrust concerned, on a subordinated basis, that
the payments from the LLC to theTrust will be made and - in
the event that the LLC goes into liquidation - that the LLC
Class B Preferred Securities will be repaid and the associated
payments on theTrust Preferred Securities will be made (the
'Guarantees'). Under the so-called Contingent Guarantee,
Rabobank guarantees the LLC that it will pay the amounts owed
under the Guarantees, if these amounts have been due and
unpaid for more than 180 days.
Internal liability (cross-guarantee system)
In accordance with the Dutch Financial Supervision Act (Wet
op het financieel toezicht), various legal entities belonging
to Rabobank Group are internally liable under an intra-
group mutual keep well system. Under this system the
participating entities are bound, in the event of a lack of funds
of a participating entity to satisfy its creditors, to provide the
funds necessary to allow the deficient participant to satisfy
its creditors.
As on 31 December 2016, the participants are:
Coöperatieve Rabobank U.A., Amsterdam
Rabohypotheekbank N.V., Amsterdam
Raiffeisenhypotheekbank N.V., Amsterdam
De Lage Landen International B.V., Eindhoven
De Lage Landen Financiering B.V., Eindhoven
De Lage Landen Trade Finance B.V., Eindhoven
De Lage Landen Financial Services B.V., Eindhoven
This item relates to all irrevocable facilities that could lead
to lending.
In millions of euros
2016
2015
Unused credit facilities
42,881
42,701
Other
2,321
2,748
Total irrevocable commitments
45,202
45,449
Of which group companies
10,779
12,853
All subsidiaries listed in the table are consolidated. In 2016,
none of the subsidiaries experienced any significant restrictions
in the payment of dividends or the redemption of loans and
repayment of advances. The option of subsidiaries to pay
dividend to Rabobank depends on various factors, including
local regulatory requirements, statutory reserves and financial
performance.
On 31 December 2016
Main subsidiaries
The Netherlands
DLL International B.V.
Rabo Vastgoedgroep N.V.
FGH Bank N.V.
Obvion N.V.
Rabohypotheekbank N.V.
North America
Rabobank Capital Funding LCC III
Rabobank Capital Funding Trust IV
Utrecht America Holdings Inc.
Australia and New Zealand
Rabobank Australia Limited
Rabobank New Zealand Limited
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292 Rabobank Jaarverslag 2016
