Reassessment of interest rate derivatives: end-of-January status update

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By the end of January 2019, some 6,400 clients had been informed on the official findings of the reassessment of their interest rate derivatives. If the process continues at this pace, all clients will have received word by the end of the first quarter of 2019.

A total over 7,500 files are up for reassessment, and we have now completed the analyses for 6,600 clients –6,400 of whom have received the outcomes. The 900 remaining files are still being processed.

Advances

If they have accepted, ABN AMRO clients have now received an advance corresponding to an estimate of their expected compensation. For vulnerable clients, the amount concerned 100% of the compensation they were expected to receive, other clients received 100% of the expected ex gratia payment.

Quality first

The quality of execution in this process takes precedence, as both the bank and the Authority for the Financial Markets (AFM) consider this a key factor underpinning the reassessment. This is as true for the final stages of the project as it was when it started.

Reassessment of interest rate derivatives

Dutch banks are conducting the reassessment for entrepreneurs that took out an interest rate derivative in the past. The banks agreed with AFM and politicians to provide compensation through the derivatives recovery framework.

For the latest state of play every month, go to our website. For more sector-wide information and updates, read the latest progress report posted on the AFM website.

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