Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 Figure 10: Unsecured long-term bonds by currency. Unsecured long-term bonds by currency at year-end 2016 Euro 55% US dollar 15% Japanese yen 7% Australian dollar 7% Pound sterling 6% I Other 10% Of the HQLA liquidity buffer 73% (2015: 62%) consists of deposits at central banks, mainly held at the DNB, the Federal Reserve Bank of New York, the Swiss National Bank and the Bank of England.The most liquid category of the buffer (Level 1 assets) constitutes approximately 99% of the HQLA buffer (and 72% of the total buffer). The liquidity buffer reported contains unencumbered assets only and is managed by theTreasury department. In addition to the HQLA buffer, a significant amount of eligible, retained RMBS notes, secured by residential mortgages issued by Rabobank, are held as a buffer for liquidity purposes, furthermore, Rabobank holds a portfolio of securities obtained by short term secured financing transactions, mostly equity (25 billion) that can be liquidated. This portfolio is not included in Table 51: Liquidity buffer. Funding strategy edtf 21 The current funding strategy strives for diversification of the funding in products, tenor, markets and currencies. As part of the strategic framework 2020, Rabobank targets to reduce its wholesale funding in the coming years. In 2016, wholesale funding decreased from EUR 203 billion to EUR 191 billion. Table 52 shows the various funding sources.The domestic retail banking business is to a large extent funded by deposits from retail customers. In 2016, funds entrusted by customers of the domestic retail banking business increased considerably, mainly due to an increase in current accounts and short term deposits from small businesses and corporates. funds entrusted by customers of the domestic non-retail banking business decreased, mostly due to a decrease in deposits form financial customers, funds entrusted from private persons received internationally decreased slightly. This, and a decrease in assets, contributed to a reduction in the dependency on wholesale funding. edtf 20 Table 52: Funding mix. Access to funding Adjusted for cash pooling As published in billions of euros atyear-end 2016 atyear-end 2015 atyear-end 2015 Funds entrusted 347.5 337.1 345.4 Domestic retail banking business 223.3 212.4 215.2 - Private individuals 131.1 130.3 130.3 - Other customers 92.2 82.1 84.9 Domestic non-retail banking 52.7 50.8 56.2 International* 71.5 73.9 73.9 - Private individuals 28.9 31.5 31.5 - Other customers 42.7 42.4 42.4 Interbankfunding 21.6 18.5 18.5 Repos 0.6 1.1 1.1 Wholesale funding (including TLTRO) 190.9 203.1 203.1 Short-term debt securities 45.8 53.1 53.1 - Of which CD/CP 42.0 48.0 48.0 - Of which ABCP 3.8 5.1 5.1 Long-term wholesale funding 145.1 150.0 150.0 - Of which Medium Term Notes 109.2 119.4 119.4 - Of which RMBS and other ABS 17.1 15.1 15.1 - Of which TLTRO 2.0 0.0 0.0 - Of which subordinated debt securities 16.9 15.5 15.5 361 10. Liquidity risk

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Jaarverslagen Rabobank | 2016 | | pagina 362