Australia Penalizes ING Unit Over Liquidity Miscalculations

The regulatory intervention includes a A$50 million operational risk capital add-on, a direct penalty for weaknesses in prudential reporting and internal governance. These measures follow a notification from the Amsterdam-based lender in July, which admitted to miscalculating liquidity positions over several years. While the bank had publicly reported a ratio of approximately 160%, the actual underlying figures were significantly lower.

Beyond the financial penalties, ING must now commission an independent review to investigate the root causes of these reporting failures. CEO Melanie Evans acknowledged the deficiencies in the bank’s operations, stating that the organization is working to align its risk management and governance practices with the expectations of Australian regulators.