Dutch Banking Code
The Banking Code for Dutch banks was adopted by the Board of the Dutch Banking Association
in 2009, expanding on a report titled 'Naar herstel van vertrouwen'(Restoring trust) authored by
the Advisory Committee on the Future of Banks. Rabobank Nederland's governance is in
compliance with the Dutch Banking Code. For additional information about Rabobank's
compliance with the Banking Code, please refer to the chapter Dutch Banking Code in this
Annual Report and a separate appendix to this Annual Report on www.rabobank.com.
Rabobank Group Code of Conduct
Rabobank Group's values and standards are determined by its four core values: respect,
integrity, professionalism and sustainability.These core values are based on its mission and
Mission Statement. The Rabobank Group Code of Conduct expands on the core values and
contains the basic principles for the behaviour of all Rabobank Group employees. All Group
entities use this code or an equivalent based on the code. Employees are regularly reminded of
the core values and the Rabobank Group Code of Conduct. In order to enable our people to act
on the basis of the Rabobank core values and the applicable theoretical frameworks (the
Mission Statement, the Rabobank Group Code of Conduct and specific codes of ethics), they
have access to a number of practical tools and resources, including training courses and the
opportunity to discuss business dilemmas. A copy of the Code of Conduct is distributed to new
employees, while all employees are encouraged to use the Code as a reference when faced
with business dilemmas. The core values and the Rabobank Group Code of Conduct are
integrated into FIR tools.
Part of this ongoing focus on the Rabobank Group Code of Conduct and dealing with dilemmas
is the oath for the moral and ethical conduct declaration ('bankers'oath'). This oath was
introduced on 1 January 2013 and taken by the members of the Rabobank Nederland Executive
Board and Supervisory Board as well as by the members of the local boards of directors and
Supervisory Boards of the local Rabobanks and the Dutch banking subsidiaries of Rabobank
Nederland. In 2015, the bankers' oath will be taken by all employees. The Mission Statement and
the Rabobank Group Code of Conduct are available on www.rabobank.com.
Cross-guarantee system within Rabobank Group
Through their mutual financial association, various legal entities within Rabobank Group make
up a single organisation, including the local Rabobanks, Rabobank Nederland and a number
of Group entities. These legal entities have a mutual relationship of liability as referred to in
Section 3:111 of the Dutch Financial Supervision Act. This relationship is formalised in an
internal cross-guarantee system. This cross-guarantee system stipulates that, if a qualifying
institution should have a shortage of funds to meet its obligations towards creditors, the other
qualifying institutions are required to supplement that institution's funds in order to allow it to
fulfil these obligations.
Local Rabobanks
The local Rabobanks have a cooperative structure and their members are locally-based
customers. These local Rabobanks, their members and their customers make up Rabobank
Group's cooperative core business. Being at the heart of society, they are involved, nearby and
leading in their service offering.
Using various bodies (Regional Delegates Assemblies, Central Delegates Assembly, General
Meeting and different committees) as a platform, the local Rabobanks conduct an intensive
dialogue with each other and with Rabobank Nederland about Group strategy. The local
Rabobanks and Rabobank Nederland have carefully defined rights and obligations with respect
to each other. In addition to decisive management and independent supervision, the
Annual Report 2014 Rabobank Group
