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Offsetting financial assets and liabilities | 12 Months Ended
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Dec. 31, 2023
Disclosure of offsetting of financial assets [abstract] |
Offsetting financial assets and liabilities | 40 Offsetting financial assets and liabilities The following tables include information about rights to offset and the related arrangements. The amounts included consist of all recognised financial instruments that are presented net in the statement of financial position under the IFRS netting criteria (legal right to offset and intention to settle net or to realise the asset and settle the liability simultaneously) and amounts presented gross in the statement of financial position but subject to enforceable master netting arrangements or similar arrangements. At ING Group amounts that are offset mainly relate to derivatives transactions, sale and repurchase agreements, securities lending agreements and cash pooling arrangements. A significant portion of offsetting is applied to OTC derivatives which are cleared through central clearing parties. Related amounts not set off in the statement of financial position include transactions where: •The counterparty has an offsetting exposure and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offsetting criteria are otherwise not satisfied, and •In the case of derivatives and securities lending or sale and repurchase agreements, cash and non-cash collateral has been received or pledged to cover net exposure in the event of a default or other predetermined events. The effect of over-collateralisation is excluded. The net amounts resulting after set off are not intended to represent ING’s actual exposure to counterparty risk, as risk management employs a number of credit risk mitigation strategies in addition to netting and collateral arrangements. Reference is made in the Risk Management Credit risk’ section ‘Credit risk mitigation'.
Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements
in EUR million 2023 |  | Gross amounts of recognised financial assets | Gross amounts of recognised financial liabilities offset in the statement of financial position | Net amounts of financial assets presented in the statement of financial position | Related amounts not offset in the statement of financial position | Net amount | Amounts not subject to enforceable netting arrangements | Statement of financial position total ¹
Financial instruments | Cash and financial instruments received as collateral
Statement of financial position line item | Financial instrument |  |  |  |  |  |  |  |
Loans and advances to banks 2 | Reverse repurchase, securities borrowing and similar agreements | 1,840 | -29 | 1,811 |  | 1,811 |  | 3,440 | 5,251
| Other |  |  |  |  |  |  |  |
|  | 1,840 | -29 | 1,811 |  | 1,811 |  | 3,440 | 5,251
Financial assets at fair value through profit or loss |  |  |  |  |  |  |  |  |
Trading and Non-trading | Reverse repurchase, securities borrowing and similar agreements | 76,304 | -34,738 | 41,566 | 235 | 41,063 | 268 | 22,091 | 63,657
| Derivatives 3 | 105,928 | -83,312 | 22,617 | 14,868 | 2,915 | 4,834 | 5,091 | 27,708
|  | 182,232 | -118,049 | 64,183 | 15,103 | 43,977 | 5,102 | 27,182 | 91,365
Loans and advances to customers 4 | Reverse repurchase, securities borrowing and similar agreements |  |  |  |  |  |  | 499 | 499
| Cash pools | 236,233 | -234,617 | 1,616 | 41 | 1,217 | 358 |  | 1,616
|  | 236,233 | -234,617 | 1,616 | 41 | 1,217 | 358 | 499 | 2,115
Other items where offsetting is applied in the statement of financial position 5 |  | 7,124 | -6,428 | 695 | 21 |  | 675 |  | 695
Total financial assets |  | 427,428 | -359,124 | 68,305 | 15,165 | 47,005 | 6,135 | 31,121 | 99,425
1‘The statement of financial position total’ is the sum of ‘Net amounts of financial assets presented in the statement of financial position’ and ’Amounts not subject to enforceable master netting arrangements’. 2 At 31 December 2023, the total amount of ‘Loans and advances to banks’ excluding repurchase agreements is EUR 11,458 million which is not subject to offsetting. 3 Derivative assets and derivative liabilities include certain exchange traded future and option positions with the same underlying. 4 At 31 December 2023, the total amount of ‘Loans and advances to customers’ excluding repurchase agreements is EUR 646,814 million of which the net cash pool position of EUR 1,616 million is subject to offsetting. Cash pools mainly relate to our subsidiary Bank Mendes Gans. 5 Other items mainly include amounts to be settled with Central Clearing Counterparties regarding securities and derivatives transactions and is included in ‘Other Assets – Amounts to be settled’ for EUR 3,869 million in the statement of financial position of which EUR 695 million is subject to offsetting as at 31 December 2023.
Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements
in EUR million 2022 |  | Gross amounts of recognised financial assets | Gross amounts of recognised financial liabilities offset in the statement of financial position | Net amounts of financial assets presented in the statement of financial position | Related amounts not offset in the statement of financial position | Net amount | Amounts not subject to enforceable netting arrangements | Statement of financial position total ¹
Financial instruments | Cash and financial instruments received as collateral
Statement of financial position line item | Financial instrument |  |  |  |  |  |  |  |
Loans and advances to banks 2 | Reverse repurchase, securities borrowing and similar agreements | 2,576 |  | 2,576 |  | 2,549 | 27 | 16,820 | 19,395
| Other | 1 |  | 1 | 1 |  |  | -1 |
|  | 2,576 |  | 2,576 | 1 | 2,549 | 27 | 16,819 | 19,395
Financial assets at fair value through profit or loss |  |  |  |  |  |  |  |  |
Trading and Non-trading | Reverse repurchase, securities borrowing and similar agreements | 51,870 | -21,245 | 30,625 | 102 | 29,813 | 710 | 22,260 | 52,886
| Derivatives | 134,253 | -106,523 | 27,730 | 18,190 | 4,525 | 5,015 | 7,004 | 34,734
|  | 186,123 | -127,768 | 58,355 | 18,292 | 34,337 | 5,726 | 29,264 | 87,619
Loans and advances to customers 3 | Reverse repurchase, securities borrowing and similar agreements | 155 |  | 155 |  | 155 |  | 1,151 | 1,306
| Cash pools | 224,261 | -222,857 | 1,404 | 74 | 889 | 441 |  | 1,404
|  | 224,416 | -222,857 | 1,559 | 74 | 1,044 | 441 | 1,151 | 2,710
Other items where offsetting is applied in the statement of financial position 4 |  | 6,750 | -5,899 | 851 | 74 |  | 777 |  | 851
Total financial assets |  | 419,865 | -356,524 | 63,341 | 18,440 | 37,930 | 6,971 | 47,234 | 110,576
1‘The statement of financial position total’ is the sum of ‘Net amounts of financial assets presented in the statement of financial position’ and ’Amounts not subject to enforceable master netting arrangements’. 2 At 31 December 2022, the total amount of ‘Loans and advances to banks’ excluding repurchase agreements is EUR 15,709 million which is not subject to offsetting. 3 At 31 December 2022, the total amount of ‘Loans and advances to customers’ excluding repurchase agreements is EUR 643,587 million of which the net cash pool position of EUR 1,404 million is subject to offsetting. Cash pools mainly relate to our subsidiary Bank Mendes Gans. 4 Other items mainly include amounts to be settled with Central Clearing Counterparties regarding securities and derivatives transactions and is included in ‘Other Assets – Amounts to be settled’ for EUR 5,191 million in the statement of financial position of which EUR 851 million is subject to offsetting as at 31 December 2022.
Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements
in EUR million 2023 |  |  |  |  | Related amounts not offset in the statement of financial position |  | Amounts not subject to enforceable netting arrangements | Statement of financial position total ¹
| Gross amounts of recognised financial liabilities | Gross amounts of recognised financial assets offset in the statement of financial position | Net amounts of financial liabilities presented in the statement of financial position | Financial instruments | Cash and financial instruments pledged as collateral | Net amount
Statement of financial position line item | Financial instrument |  |  |  |  |  |  |  |
Deposits from banks 2 | Repurchase, securities lending and similar agreements | 29 | -29 |  |  |  |  | 2,064 | 2,064
| Other | 290 | -290 |  |  |  |  |  |
|  | 319 | -319 |  |  |  |  | 2,064 | 2,064
Customer deposits 4 | Repurchase, securities lending and similar agreements |  |  |  |  |  |  |  |
| Cash pools | 249,734 | -234,617 | 15,116 | 13 |  | 15,103 |  | 15,116
|  | 249,734 | -234,617 | 15,116 | 13 |  | 15,103 |  | 15,116
Financial liabilities at fair value through profit or loss |  |  |  |  |  |  |  |  |
Trading and Non-trading | Repurchase, securities lending and similar agreements | 76,581 | -34,738 | 41,844 | 235 | 41,653 | -44 | 14,222 | 56,065
| Derivatives 3 | 101,218 | -82,677 | 18,541 | 14,881 | 3,455 | 204 | 6,607 | 25,148
|  | 177,799 | -117,415 | 60,384 | 15,117 | 45,108 | 160 | 20,829 | 81,213
Other items where offsetting is applied in the statement of financial position 5 |  | 7,285 | -6,773 | 512 | 35 |  | 477 |  | 512
Total financial liabilities |  | 435,137 | -359,124 | 76,013 | 15,165 | 45,108 | 15,740 | 22,892 | 98,905
1‘The statement of financial position total’ is the sum of ‘Net amounts of financial liabilities presented in the statement of financial position’ and ’Amounts not subject to enforceable master netting arrangements’. 2 At 31 December 2023, the total amount of ‘Deposits from banks’ excluding repurchase agreements is EUR 21,193 million of which EUR 0 million is subject to offsetting. 3 Derivative assets and derivative liabilities include certain exchange traded future and option positions with the same underlying. 4 At 31 December 2023, the total amount of ‘Customers deposits’ excluding repurchase agreements is EUR 650,179 million of which the net cash pool position of EUR 15,116 million is subject to offsetting. Cash pools mainly relate to our subsidiary Bank Mendes Gans. 5 Other items mainly include amounts to be settled with Central Clearing Counterparties regarding securities and derivatives transactions and is included in ‘Other Liabilities – Amounts to be settled’ for EUR 6,509 million in the statement of financial position of which EUR 512 million is subject to offsetting as at 31 December 2023.
Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements
in EUR million 2022 |  |  |  |  | Related amounts not offset in the statement of financial position |  | Amounts not subject to enforceable netting arrangements | Statement of financial position total ¹
| Gross amounts of recognised financial liabilities | Gross amounts of recognised financial assets offset in the statement of financial position | Net amounts of financial liabilities presented in the statement of financial position | Financial instruments | Cash and financial instruments pledged as collateral | Net amount
Statement of financial position line item | Financial instrument |  |  |  |  |  |  |  |
Deposits from banks 2 | Repurchase, securities lending and similar agreements |  |  |  |  |  |  | 3,809 | 3,809
| Other |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | 3,809 | 3,809
Customer deposits 3 | Repurchase, securities lending and similar agreements |  |  |  |  |  |  |  |
| Cash pools | 236,219 | -222,857 | 13,362 | 52 |  | 13,310 |  | 13,362
|  | 236,219 | -222,857 | 13,362 | 52 |  | 13,310 |  | 13,362
Financial liabilities at fair value through profit or loss |  |  |  |  |  |  |  |  |
Trading and Non-trading | Repurchase, securities lending and similar agreements | 57,871 | -21,245 | 36,626 | 102 | 31,868 | 4,655 | 12,220 | 48,846
| Derivatives | 127,937 | -103,988 | 23,949 | 18,215 | 4,964 | 770 | 9,967 | 33,917
|  | 185,808 | -125,233 | 60,575 | 18,317 | 36,833 | 5,425 | 22,187 | 82,762
Other items where offsetting is applied in the statement of financial position 4 |  | 8,535 | -8,435 | 100 | 70 |  | 30 |  | 100
Total financial liabilities |  | 430,561 | -356,524 | 74,037 | 18,440 | 36,833 | 18,765 | 25,996 | 100,033
1‘The statement of financial position total’ is the sum of ‘Net amounts of financial liabilities presented in the statement of financial position’ and ’Amounts not subject to enforceable master netting arrangements’. 2 At 31 December 2022, the total amount of ‘Deposits from banks’ excluding repurchase agreements is EUR 52,823 million of which EUR 0 million is subject to offsetting. 3 At 31 December 2022, the total amount of ‘Customers deposits’ excluding repurchase agreements is EUR 640,740 million of which the net cash pool position of EUR 13,362 million is subject to offsetting. Cash pools mainly relate to our subsidiary Bank Mendes Gans. 4 Other items mainly include amounts to be settled with Central Clearing Counterparties regarding securities and derivatives transactions and is included in ‘Other Liabilities – Amounts to be settled’ for EUR 6,715 million in the statement of financial position of which EUR 100 million is subject to offsetting as at 31 December 2022.

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- Definition The disclosure of the offsetting of financial assets and financial liabilities. [Refer: Financial assets; Financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Section Offsetting financial assets and financial liabilities -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS07_g13A-13F_TI -URIDate 2023-03-23 + Details
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