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Transfer of financial assets, assets pledged and received as collateral | 12 Months Ended
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Dec. 31, 2023
Disclosure of transferred financial assets that are not derecognised in their entirety [abstract] |
Transfer of financial assets, assets pledged and received as collateral | 39 Transfer of financial assets, assets pledged and received as collateral Financial assets pledged as collateral The financial assets pledged as collateral consist primarily of Loans and advances to customers pledged to secure Debt securities in issue, deposits from the Dutch Central Bank and other banks, as well as debt securities used in securities lending or sale and repurchase transactions. They serve to secure margin accounts and are used for other purposes required by law. Pledges are generally conducted under terms that are usual and customary for collateralised transactions including standard sale and repurchase agreements, securities lending and borrowing and derivatives margining. The financial assets pledged are as follows:
Financial assets pledged as collateral |  |
in EUR million | 2023 | 2022
Banks |  |
– Cash and balances with central banks | 322 | 364
– Loans and advances to banks | 3,305 | 4,007
Financial assets at fair value through profit or loss | 23,641 | 17,079
Financial assets at fair value through OCI | 1,896 | 2,142
Securities at amortised cost | 2,672 | 3,578
Loans and advances to customers | 73,860 | 98,917
Other assets | 357 | 596
| 106,052 | 126,682
In 2023 the financial assets pledged as collateral reduced due to the partial repayment of ING's TLTRO III. In addition, in some jurisdictions ING Bank N.V. has an obligation to maintain a reserve with central banks. As at 31 December 2023, the minimum mandatory reserve deposits with various central banks amount to EUR 11,653 million (2022: EUR 11,108 million). Financial assets received as collateral The financial assets received as collateral that can be sold or repledged in absence of default by the owner of the collateral consists of securities obtained through reverse repurchase transactions and securities borrowing transactions. These transactions are generally conducted under standard market terms for most repurchase transactions and the recipient of the collateral has unrestricted right to sell or repledge it, provided that the collateral (or equivalent collateral) is returned to the counterparty at term.
Financial assets received as collateral
in EUR million | 2023 | 2022
Total received collateral available for sale or repledge at fair value |  |
– equity securities | 33,234 | 22,847
– debt securities | 119,908 | 103,723
of which sold or repledged at fair value |  |
– equity securities | 20,526 | 18,613
– debt securities | 86,448 | 66,636
Transfer of financial assets The majority of ING's financial assets that have been transferred, but do not qualify for derecognition are debt and equity instruments used in securities lending or sale and repurchase transactions.
Transfer of financial assets not qualifying for derecognition
| Securities lending | Sale and repurchase
| Equity | Debt | Equity | Debt
in EUR million | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022
Transferred assets at carrying amount |  |  |  |  |  |  |  |
Financial assets at fair value through profit or loss | 3,894 | 2,087 |  |  | 7,357 | 6,357 | 11,780 | 7,178
Financial assets at fair value through other comprehensive income |  |  | 328 | 499 |  |  | 470 | 453
Loans and advances to customers |  |  |  |  |  |  | 2,396 | 4,637
Securities at amortised cost |  |  | 431 | 435 |  |  | 465 | 261
Associated liabilities at carrying amount 1 |  |  |  |  |  |  |  |
Financial liabilities at fair value through profit or loss | n/a | n/a | n/a | n/a | 11,010 | 6,245 | 9,467 | 8,932
1 The table includes the associated liabilities which are reported after offsetting, compared to the gross positions of the encumbered assets. The table above does not include assets transferred to consolidated securitisation entities as the related assets remain recognised in the consolidated statement of financial position. Transferred financial assets that are derecognised in their entirety are mentioned in Note 45 'Structured entities'.

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- Definition The disclosure of transfers of financial assets. [Refer: Financial assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Section Transfers of financial assets -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS07_g42A-42S_TI -URIDate 2023-03-23 + Details
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