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a.s.r. mentioned in its Annual Report 2015 that the Dutch Central Bank (DNB) planned to impose a fine on a.s.r. Bank. It has recently been announced that DNB has imposed a € 350,000 fine on a.s.r. Bank for a situation that occurred early in 2015.
At that moment, a.s.r. Bank became aware that the regulatory capital had been calculated erroneously. As a result, its solvency position at year-end 2013 and its positions published in subsequent reports had to undergo downward adjustments. a.s.r. Bank notified DNB immediately after having established this fact and took measures right away to once again meet the solvency capital requirements.
a.s.r. Bank has opposed the DNB’s decision to impose a fine and is particularly discontented with the level of the fine as a.s.r. Bank immediately reported the error itself and corrected the calculation. a.s.r. Bank’s clients were not affected by the above measures.