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Solvency supervisionThe regulations of the Dutch Central Bank on solvency supervision require, in broad terms, that a bankmaintains own funds in an amount equal to at least 8 per cent. of its risk-weighted assets and operations. Theseregulations also impose limitations on the aggregate amount of claims (including extensions of credit) a bankmay have against one debtor or a group of related debtors. Since the implementation of the FinancialSupervision Act, the regulations have become more sophisticated, being derived from the new capitalmeasurement guidelines of Basel II as described under “Basel standards” above and as laid down in EUdirectives described above under “European Union standards”. For credit risk Rabobank uses the AdvancedInternal Ratings Based Approach. For operational risk, Rabobank uses the most refined approach, theAdvanced Measurement Approach.Liquidity supervisionThe regulations of the Dutch Central Bank relating to liquidity supervision require that a bank maintainssufficient liquid assets against certain liabilities of the bank. The basic principle of the liquidity regulations isthat liquid assets must be held against “net” liabilities of banks (after netting out claims and liabilities in amaturity schedule) so that the liabilities can be met on the due dates or on demand, as the case may be. Theseregulations impose additional liquidity requirements if the amount of liabilities of a bank with respect to onedebtor or group of related debtors exceeds a certain limit.Structure supervisionThe Financial Supervision Act provides that a bank must obtain a declaration of no-objection from theMinister of Finance (or in certain cases from the Dutch Central Bank) before, among other things: (i) reducingits own funds (eigen vermogen) by way of repayment of capital or distribution of reserves or makingdisbursements from the item constituting the cover for general banking risks as referred to in article 2:424 ofthe Dutch Civil Code; (ii) acquiring or increasing a qualified holding in a regulated institution such as a bankor other regulated financial institution, if the balance sheet total of that institution at the time of the acquisitionor increase amounts to more than 1 per cent. of the bank’s consolidated balance sheet total; (iii) acquiring orincreasing a “qualified holding” in another enterprise than those mentioned under (ii) if the amount paid forthe acquisition or the increase together with any amounts paid for prior acquisitions and prior increasesexceeds 1 per cent. of the consolidated own funds of the bank; (iv) acquiring all or a substantial part of theassets and liabilities of another enterprise or institution if this amounts to more than 1 per cent. of the bank’sconsolidated balance sheet total; (v) merging with another enterprise or institution if the balance sheet totalthereof amounts to more than 1 per cent. of the bank’s consolidated balance sheet total; or (vi) proceeding tofinancial or corporate reorganisation. For the purposes of the Financial Supervision Act, “qualified holding” isdefined to mean the holding, directly or indirectly, of an interest of at least 10 per cent. of the issued sharecapital or voting rights in an enterprise, or a similar form of control.In addition, any person is permitted to hold, acquire or increase a qualified holding in a bank, or to exerciseany voting power in connection with such holding, only after such declaration of no objection has beenobtained.Administrative supervisionThe Dutch Central Bank also supervises the administrative organisation of the individual banks, their financialaccounting system and internal controls. The administrative organisation must be such as to ensure that a bankhas at all times a reliable and up-to-date overview of its rights and obligations. Furthermore, the electronicdata processing systems, which form the core of the accounting system, must be secured in such a way as toensure optimum continuity, reliability and security against fraud. As part of the supervision of theadministrative organisation, the Dutch Central Bank has also stipulated that this system must be able toprevent conflicts of interests, including the abuse of inside information.310