About this Report Chairman's Foreword Corporate Management Report Appendices Governance Consolidated Financial Company Financial Statements Statements situation has remained unchanged. Furthermore, the receivers sent a letter (August 10th) in which they describe on what (possible) grounds their (future) claim(s) towards Rabobank in its capacity of lender will be based. Rabobank is of the opinion that no provision should be recognized per December 31, 2018. Libor/Euribor Rabobank has been involved for a number of years in several regulatory proceedings in relation to benchmark-related issues. Rabobank is cooperating, and will continue to cooperate, with the regulators and authorities involved in these investigations. On October 29,2013, Rabobank entered into settlement agreements with a number of these authorities in relation to their investigations into the historical Libor and Euribor submission processes of Rabobank. All amounts payable under these settlement agreements were fully paid and accounted for by Rabobank in 2013. Rabobank, along with a large number of other panel banks and inter-dealer brokers, has been named as a defendant in a number of putative class action suits and individual civil court cases brought before the Federal Courts in the United States. These proceedings relate to US Dollar (USD) Libor, British Pound Sterling (GBP) Libor, Japanese Yen (JPY) Libor, Tibor (note: Rabobank was never a member of the TIBOR panel), and Euribor. Rabobank and/ or its subsidiaries have also received complaints and writs of summons ordering Rabobank to appear before various Dutch, Argentine, United Kingdom, Irish, and Israeli courts in civil proceedings (inc. class action suits) relating to interest rate benchmarks. Since the class action suits and civil proceedings listed above are intrinsically subject to uncertainties, it is difficult to predict their outcomes. Rabobank takes the stance that it has substantive and convincing legal and factual defenses against these claims. Rabobank has the intention to continue to defend itself against these claims. Rabobank Group considers the Libor/Euribor case to be a contingent liability. No provision has been made. Other Cases Rabobank is subject to other legal proceedings for which provisions have been recognized.Thesecasesare individually less significant in size and are therefore not separately disclosed. The total provision for those cases amounts to EUR 92 million. In addition to the contingent liability cases described above for which an assessment regarding a possible outflow is not yet possible, Rabobank has identified other less relevant cases in terms of size as a contingent liability. The maximum amount claimed for those contingent liability cases amounts to EUR 101 million. Annual Report 2018 - Company Financial Statements 221

Rabobank Bronnenarchief

Annual Reports Rabobank | 2018 | | pagina 223