Governance

The clearing activities of ABN AMRO operate from ABN AMRO Clearing Bank N.V., a 100% subsidiary of ABN AMRO Bank N.V. The clearing activities are therefore legally separated from the Group’s general banking activities.

ABN AMRO Clearing Bank N.V. is a fully licensed and regulated Dutch bank with its registered office in Amsterdam. It has branches in Singapore and London and 100% subsidiaries in Tokyo, Sydney, Hong Kong, Singapore and Chicago. ABN AMRO Clearing also has offices in New York, Paris, São Paulo and Frankfurt.

ABN AMRO Clearing Bank N.V. does not operate a proprietary trading desk and is therefore an independent third party clearing member that does not compete with our clients.

ABN AMRO Group N.V. has issued a 403 declaration with respect to the continued support of ABN AMRO Clearing’s contractual obligations.

Dutch banking code

The principles of the Banking Code are applied by the ABN AMRO Group in full to all relevant entities within its group of companies on a consolidated basis. In accordance with ABN AMRO’s management framework, all members of the group are an integral part of the ABN AMRO organisation. The management framework entails that the bank’s policies and standards related to compliance with internal and external regulations and best practices are applicable to the full group and consequently are defined at group level for implementation within the different parts of the organisation.

Please refer to the website of ABN AMRO and / or the annual report of ABN AMRO Group N.V. for additional details on the application of the Dutch Banking Code.